Data and analytics provider BMLL has secured a $21 million strategic investment in its latest funding round to drive further growth.
Paul Humphrey
The latest funding round included Optiver as lead investor, with co-participation from existing investors FactSet, Nasdaq Ventures, IQ Capital’s Growth Fund, as well as additional investment from CTC Venture Capital.
As part of the move, Optiver has also joined BMLL’s board of investors.
The investment comes at a time of continued accelerated growth for BMLL. Over the last 18 months, the business added more than 40 equities and futures datasets globally and today covers 98% of the MSCI All Country World Index.
BMLL has also grown its global footprint, opened a US-base and increased its client roster.
“We are thrilled to welcome Optiver as a significant shareholder and are delighted to have the ongoing support from our existing investors who have backed the latest round,” said Paul Humphrey, chief executive at BMLL.
“We have an incredibly diverse team of supporting investors, with deep-seated global market and technology expertise, and we are poised to scale the business further, as we build out and scale our data feed business and futures coverage and wider product offering globally.”
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This investment follows BMLL’s Series B round in October 2022, which secured a $26 million strategic investment from FactSet, Nasdaq Ventures and IQ Capital’s Growth Fund. Snowflake Ventures joined the Series B round in September last year.
BMLL has previously raised $36 million through Series A and seed funding rounds.
“The high quality of BMLL’s data, their advanced analytics tools and their best-in-class team have together significantly improved our ability to generate insights that influence our strategies,” said Pat Cooney, managing director at Optiver Europe.
“We believe these benefits can extend beyond our firm and provide substantial value to other market participants as well.”