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Data-Gathering Startup Premise Raises $50 Million, Led by Valor

  • Series C funding adds to $16.5 million previously raised
  • Gates Foundation, World Bank among organizations using data

Premise, a startup that gathers global economic data, raised $50 million in a funding round led by Valor Equity Partners.

The San Francisco-based company, whose board includes former U.S. Treasury Secretary Lawrence Summers, works with organizations such as the Bill & Melinda Gates Foundation, the World Bank and Standard Chartered Bank to gather economic information in the developing world. The company expects to end 2015 with annual recurring revenue of more than $10 million.