New York, USA-based data insights and analytics company, Consumer Edge, raised more than USD 60 million in equity financing. The company announced the fundraise on January 12, 2023. Asset management firm investing across the capital stack of tech-enabled companies, CoVenture led the financing for the company.
As a part of the deal, Dan Bailey, Managing Director at CoVenture, joined Consumer Edge’s Board of Directors.
Guggenheim Securities acted as a financial advisor for Consumer Edge, with Goodwin Procter serving as legal counsel. Meanwhile, Skadden, Arps, Slate, Meagher & Flom LLP provided legal counsel for CoVenture.
Purpose of financing for Consumer Edge
With the latest equity financing led by CoVenture, Consumer Edge seeks to accelerate organic growth and business operations.
Meanwhile, the company has plans to continue executing accretive, tuck-in acquisitions. It is actively evaluating additional opportunistic acquisitions aimed at further expanding its product suite, geographic reach, and data sources.
What the Consumer Edge’s official has to say
Speaking on the recent development, Pecoriello, CEO and Founder of Consumer Edge, said, “As a founder, I was very focused on finding the right partner given this is the first institutional capital raise for the business. CoVenture was a clear and obvious fit given their speed of execution, strong understanding of the sector, and positioning as a value-additive and long-term partner with highly relevant industry relationships.”
What the lead investor has to say
Dan Bailey, Managing Director at CoVenture, further added, “While there continues to be a robust growth opportunity for Consumer Edge within the public markets, the white space opportunity within the private markets is even more compelling. It’s our belief that the use of alternative data by private markets investors, as well as corporate decision-makers, will increasingly become mission-critical and that Consumer Edge, in particular, is well-positioned to capitalize on this secular trend towards greater reliance on data-driven decision-making. We couldn’t be more excited to be partnering with Bill and the entire Consumer Edge team as they embark on this next stage of growth.”
About Consumer Edge
CEO Bill Pecoriello launched the company in 2009. It is a data insights company delivering unparalleled views into global consumer spending behaviour coupled with deep industry knowledge and analytical expertise. Over the past three years, Consumer Edge has delivered an organic ARR CAGR of approximately 30%. Besides, the company established deeply entrenched relationships with a broad array of leading hedge funds, private equity, venture capital, asset management, as well as corporate clients.
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