BMLL Secures $21 Million Funding Led By Optiver
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BMLL, a provider of historical financial market data and analytics, has announced that it has raised $21 million in its latest funding round, which was led by global market maker Optiver. This funding comes nearly two years after the company completed a $26 million Series B round.
Over the past 18 months, BMLL has reportedly expanded its data offerings, adding more than 40 equities and futures datasets globally.
BMLL Enhances Data Integration To Boost Trading Strategies
This growth now lets the company cover 98% of the MSCI All Country World Index. The company says its data and tools help more than 100 trading places around the world and are used by different market players, brokers, and regulators.
Paul Humphrey, the Chief Executive Officer of BMLL, talked about the investment. He said the company has a very diverse group of supporting investors who know a lot about global markets and technology. He also stated that BMLL is ready to grow its business more as it expands its data services, futures coverage, and products all over the world.
The funding round also included support from other investors like Nasdaq Ventures, FactSet, and IQ Capital’s Growth Fund, with CTC Venture Capital joining in as a new investor.
BMLL Embraces “Buy-to-Build” Trend To Enhance Data Accessibility
This investment shows a new trend in the financial world where companies want to buy data instead of making it themselves. Instead of building and keeping their own data systems, businesses are looking for special providers like BMLL that offer ready-to-use data.
The recent funding round comes after BMLL’s last big round where the firm raised $26 million in October 2022. That round had big names like FactSet, Nasdaq Ventures, and IQ Capital’s Growth Fund joining in. Later, Snowflake Ventures added their support in September 2023.
BMLL has been growing its partnerships and data services this year. In June, the company shared news about a partnership with INQDATA, a cloud-based data provider. This partnership helps financial market players get BMLL’s rich historical data easily in their kdb+ system.
Earlier this year, BMLL teamed up with CCData, a group that specializes in digital asset data solutions. This partnership helps users find and use data more easily across regular and digital asset markets, giving them a better view of the financial world.
In January, BMLL finished the first part of a plan to help customers access their data better. The firm made three datasets available on the Snowflake Marketplace, allowing customers to easily access BMLL’s data.