BMLL Secures Funding
Posted by Colin Lambert. Last updated: October 26, 2022
Data and analytics provider BMLL has closed a $26 million Series B funding round led by Nasdaq Ventures, FactSet and IQ Capital’s growth fund.
The firm, which provides level 3 data for futures markets, says the investment will help it focus on customer needs for more data coverage across an increasing number of global markets. It adds the funding will support investment in acquiring new data sets globally; growing the BMLL engineering capabilities to integrate these new data and analytics capabilities into existing products for an ever-expanding universe of customers; and build out North America with the opening of a New York office.
“The investment is testament to the increasing need for more sophisticated tools to understand how markets truly behave and drive performance,” says Paul Humphrey, CEO of BMLL. “Our granular Level 3 data and analytics capabilities help market participants unlock the full potential of the predictive power of historic pricing data and make more informed decisions.
“It has been our mission to democratise access to Level 3 data and analytics capabilities and the latest funding will support our aim to make these insights available to a wider audience,” he continues. “We are immensely proud of the outstanding industry recognition we have gained over time, and I’d like to thank my team for their unwavering dedication to customer services, our esteemed clients for their support, and our investors for backing our vision.”
Jonathan Reeve, head of content and technology solutions at FactSet, adds, “Data-driven decisions are the lifeblood of our industry and the driving force behind our product development and the collaborations we build. FactSet is pleased to support the growth and success of BMLL, which shares our commitment to empowering the financial community to make more informed investment decisions through accessing high-quality data and analytics.”