L2 announced early today the closing of a $16.5 million round of funding from General Catalyst Partners to accelerate the development of its subscription business intelligence service and expand its global presence. The company will deploy the investment to deepen its benchmarking of digital footprints of leading prestige and consumer brands and to fuel the company’s growth in Europe, Asia, and Latin and North America
Since its founding in 2010, L2 has been benchmarking brands’ digital competency using proprietary research methodology. L2 now tracks more than 5,000 global brands, and counts some of the most iconic prestige and consumer brands as members.
L2’s Digital IQ Index (DIQ) provides brand managers with data driven insights on their digital performance. It captures more than 850 data points across a brand’s digital footprint including site & e-commerce, digital marketing, mobile & tablets and social media.
General Catalyst has backed innovative technology companies Kayak, Airbnb, Warby Parker, Snapchat, Datalogix, and HubSpot, and has a track record of leveraging its experience to help founders build market-leading business. The following publications have covered the news:
Boston Business Journal Former Akamai CEO Paul Sagan Closes First VC Deal Since Joining General Catalyst
Venture Wire L2 Tracks Down $16.5M to Expand Brand Intelligence Service
Fortune Deals of the Day