Premise raises $11M for its crowdsourced economic data platform

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Premise, the company trying to reinvent macroeconomic indicators in developing countries, has raised an $11 million series B round led by Social+Capital along with Google Ventures, Harrison Metal, Andreessen Horowitz and Bowery Capital. As we explained when the company launched in October, it uses smartphone-armed agents around the world who snap strategic photos that Premise then analyzes to determine the economic health of a region. Co-founder and CEO David Soloff is speaking at our Structure Data conference next week in New York, where the company will also receive a Structure Data Editor’s Choice award.

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Frank Nurock

Allot of customers are using premise to keep an accurate eye on inflation. This also relates to identifying food and water issues as they happen.

What an amazing concept.

Thanks for the read Derrick.

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