Financing to accelerate product expansion and M&A strategy
NEW YORK, January 12, 2023 – Consumer Edge, a data insights and analytics company focused on the global consumer, announced the close of over $60 million in equity financing from funds managed by CoVenture, an asset management firm investing across the capital stack of tech-enabled companies. The funding provides Consumer Edge with additional capital to accelerate organic growth and continue executing on accretive, tuck-in acquisitions.
“As a founder, I was very focused on finding the right partner given this is the first institutional capital raise for the business,” said Bill Pecoriello, CEO and Founder of Consumer Edge. “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.”
Consumer Edge provides key stakeholders across the investment and corporate landscapes with best-in-class data insights products and tools to enable enhanced strategic decision making. With its global capabilities and breadth of coverage, Consumer Edge is uniquely positioned to provide customers with multinational views on consumer spending and behavior. Over the past three years, Consumer Edge has delivered an organic ARR CAGR of approximately 30% while establishing deeply entrenched relationships with a broad array of leading hedge fund, private equity, venture capital, asset management, and corporate clients. Consumer Edge recently completed two acquisitions and is actively evaluating additional opportunistic acquisitions aimed at further expanding its product suite, geographic reach, and data sources.
Dan Bailey, Managing Director at CoVenture, shared: “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.”
Mr. Bailey joined Consumer Edge’s Board of Directors following the closing of the financing.
Guggenheim Securities served as a financial advisor for Consumer Edge with Goodwin Procter serving as legal counsel. Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel for CoVenture.
About Consumer Edge
Founded in 2009 by CEO Bill Pecoriello, Consumer Edge is a data insights company delivering unparalleled views into global consumer spending behavior coupled with deep industry knowledge and analytical expertise. Our solutions provide key stakeholders across the investment and corporate landscapes with best-in-class tools to enable enhanced strategic decision making. Our product suite of data feeds, templates, and visualization platforms delivers unrivaled consumer spending intelligence by fusing numerous privacy-compliant data types across geographies. This unique set of capabilities allows for actionable insights driven by our near real-time market intelligence and benchmarking capabilities at the merchant, brand, and item levels.
CoVenture is a multi-disciplinary alternative asset management firm focused on providing financing solutions across the entire capital stack. We support companies at various stages in their respective lifecycles, with the ability to provide the first round of institutional capital to early-stage companies as well as back more established businesses with tailored solutions. CoVenture and its affiliates manage over $2 billion in investor commitments across multiple credit and equity strategies. For more information visit https://coventure.vc/.