DOYLESTOWN, Pa.--(BUSINESS WIRE)--Powerlytics, the big data provider of financial insights and analytics into the 144 million households and 27 million businesses that comprise the American economy, today announces that it has raised a strategic round of capital from CME Group (NASDAQ: CME), the world's leading and most diverse derivatives marketplace. Powerlytics will use the funding to accelerate product development, strategic alliances, client services, sales and marketing.
“CME Group’s investment represents further validation of our market intelligence platform by one of the largest and most prestigious financial services companies in the world,” says Kevin Sheetz, CEO and co-founder of Powerlytics. “We are extremely pleased that CME has shown confidence in Powerlytics by providing us with capital to expand the development and distribution of our existing market intelligence platform. CME Group is a valuable strategic investor that strengthens our team, and we look forward to the benefit of their insights and relationships.”
The investment in Powerlytics is the fourth transaction completed this year by Liquidity Ventures I, LLC, the strategic investment arm of CME Group. Their focus is on providing capital to select technology companies, offering support and corporate knowledge, while seeing how innovative technology entities are impacting the financial industry. As part of the agreement, Mark Fields, managing director of CME Group's strategic investment group, will become an observer to the Powerlytics board of directors.
Fields comments, “CME Group recognizes the significant opportunity for big data to revolutionize the financial services industry. In surveying the market, it became clear to us that Powerlytics has a strong value proposition and we are excited to support their growth.”
Powerlytics provides the most comprehensive, accurate and granular consumer and business financial data available in the U.S. Our proprietary big data analytics platform analyzes anonymized financial information from publicly available U.S. government sources and reconstructs it into easily understood financial statements that provide a comprehensive financial view of the 144 million households and 27 million businesses that comprise the American economy. Major U.S. corporations and financial services providers are using Powerlytics’ data to manage risk, discover potential markets, drive corporate strategy, benchmark performance and enhance both business and consumer target marketing. Visit http://blog.powerlytics.com/ or www.powerlytics.com for more information.