11 September 2019 – Alternative data product platform BigOne Lab closed its multi-million-dollar financing round with strategic investment from S&P Global (NYSE: SPGI) and capital injection from its current investor, China Growth Capital. BigOne Lab will use this funding to develop new products, explore new datasets, and expand its customer outreach efforts.
Rapidly increasing digitalization has created an ocean of unstructured and under-analyzed data. Alternative data usually refers to any valuable data that supplements traditional financial information sourced from financial statements and analyst reports. According to the technology intelligence firm IDC, global data volume will increase from 33 Zettabytes in 2018 to 175 Zettabytes in 2025. Deloitte predicted in 2017 that global alternative data procurement will reach $7 billion by 2020.
Founded in 2016, BigOne Lab has developed a comprehensive suite of datasets tracking companies’ key operating metrics. BigOne Lab aims to empower its clients’ investment and corporate research with alternative data delivered through a combination of customized data solutions and the highly automated and visualized data insight SaaS platform. To date, BigOne Lab is actively tracking over 100 companies across 10 sectors, covering more than 200,000 consumer brands. Its data products have been incorporated into the critical decision-making processes of dozens of top investment managers and large corporates across the globe, including the largest asset managers in the world, leading global hedge funds, and leading Chinese venture capital firms.
“BigOne Lab is excited to receive this strategic investment from S&P Global, a leading provider of transparent and independent ratings, benchmarks, analytics, and data,” Mu Chen, founder and CEO of BigOne Lab, said. “This investment will further our mission to productize more alternative data on China and build a multi-data-type platform for investment and corporate research users.”
“Over the years, BigOne Lab and its team have focused on alternative data products. We are dedicated to providing the global standard of research on China’s capital market and companies,” Mu added. “S&P Global has a rich expertise and network in financial information technologies. Its products are shaping the financial industry on a global scale. We see this strategic investment as a cornerstone to our common goals — promoting a high-quality flow of information and enhancing investment research on Chinese companies.”
“S&P Global is committed to enhancing its presence in China across all of its businesses,” Ewout Steenbergen, Chief Financial Officer at S&P Global, said. “Our investment in BigOne Lab aligns with our growth strategy of bringing essential intelligence to the Chinese market.”
“Ever since our last round of investment, we have witnessed solid growth in BigOne Lab’s product development and sales expansion,” says Jake Xie, head of enterprise software and services investment at China Growth Capital. “BigOne Lab has also demonstrated an outstanding level of entrepreneurship and innovation, and continues to cultivate demand from a diverse group of clients that increasingly rely on data to improve research and decision-making capabilities. We reaffirm our belief in BigOne Lab and its market potential.”
We just sent you an email. Please click the link in the email to confirm your subscription!