BMLL, an independent provider of historical Level 3 data and analytics for global equity and futures markets, has closed its Series B funding round, raising $26 million.

Announced on Tuesday, the funding round was led by Nasdaq Ventures, FactSet and IQ Capital’s Growth Fund. Further, ACF Investors and other new and existing investors also participated in the funding round .

Jefferies was the financial advisor of the funding round, while Taylor Wessing was the legal advisor to BMLL.

Established in 2014, BMLL raised $11.7 million earlier, according to Crunchbase. IQ Capital and ACF Investors, along with QVentures, Samos Investments, and Force Over Mass Capital, were the company's previous investors.

“The investment is testament to the increasing need for more sophisticated tools to understand how markets truly behave and drive performance,” said BMW's CEO, Paul Humphrey.

“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 came when BMLL was on track for aggressive growth, and its revenue has significantly grown in the past 12 months. However, the company did not reveal any of those numbers.

Growth Plans

The company will use the investment proceeds to focus on expanding its data coverage across global markets. Specifically, it will support investment in acquiring new global data sets and growing its engineering capabilities. It will expand its North American presence by opening a New York office.

BMLL offers services to several Tier-1 clients, including investment banks, exchanges and buy-side firms. Some of its clients are 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.

“It has been our mission to democratize 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,” Humphrey added.

“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.”

BMLL, an independent provider of historical Level 3 data and analytics for global equity and futures markets, has closed its Series B funding round, raising $26 million.

Announced on Tuesday, the funding round was led by Nasdaq Ventures, FactSet and IQ Capital’s Growth Fund. Further, ACF Investors and other new and existing investors also participated in the funding round .

Jefferies was the financial advisor of the funding round, while Taylor Wessing was the legal advisor to BMLL.

Established in 2014, BMLL raised $11.7 million earlier, according to Crunchbase. IQ Capital and ACF Investors, along with QVentures, Samos Investments, and Force Over Mass Capital, were the company's previous investors.

“The investment is testament to the increasing need for more sophisticated tools to understand how markets truly behave and drive performance,” said BMW's CEO, Paul Humphrey.

“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 came when BMLL was on track for aggressive growth, and its revenue has significantly grown in the past 12 months. However, the company did not reveal any of those numbers.

Growth Plans

The company will use the investment proceeds to focus on expanding its data coverage across global markets. Specifically, it will support investment in acquiring new global data sets and growing its engineering capabilities. It will expand its North American presence by opening a New York office.

BMLL offers services to several Tier-1 clients, including investment banks, exchanges and buy-side firms. Some of its clients are 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.

“It has been our mission to democratize 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,” Humphrey added.

“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.”