BMLL, an independent provider of historical Level 3 data and analytics for global equity and futures markets, today announced it has closed its Series B funding round and has secured $26 million.
The funding round was lead by Nasdaq Ventures, FactSet and IQ Capital’s Growth Fund. Additionally, ACF Investors and other new and existing investors also participated in the funding round.
Jefferies acted as the financial advisor of the funding round, while Taylor Wessing was the legal advisor to BMLL.
Paul Humphrey, CEO, BMLL, commented:
Paul Humphrey Source: LinkedIn
The investment is testament to the increasing need for more sophisticated tools to understand how markets truly behave and drive performance. Our granular Level 3 data and analytics capabilities help market participants unlock the full potential of the predictive power of historic pricing data and make more informed decisions.
The funding comes at a period of fast growth. The company pointed out that its revenue has significantly grown in the past 12 months, but it did not reveal any numbers.
The investment will help BMLL expand its data coverage across global markets. The funding will support investment in acquiring new global data sets and growing its engineering capabilities. The company noted that plans to expand its North American presence by opening a New York office.
BMLL provides services to several Tier-1 clients, such as banks, brokers, hedge funds, exchanges and buy-side firms. The company’s clients include the Financial Conduct Authority (FCA ), NYU’s Quant Team and Kepler Cheuvreux’s teams. In addition, it partnered with Aquis Exchange, SIX Group and Jefferies.
Paul Humphrey, CEO of BMLL, added:
It has been our mission to democratise access to Level 3 data and analytics capabilities and the latest funding will support our aim to make these insights available to a wider audience. We are immensely proud of the outstanding industry recognition we have gained over time, and I’d like to thank my team for their unwavering dedication to customer services, our esteemed clients for their support, and our investors for backing our vision.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
