Founded in 2015, Second Measure analyses anonymised purchases to offer tools that monitor company performance and consumer behaviour.

The Bay Area-headquartered company also has an office in New York.

The acquisition of Second Measure will add consumer transaction data analytics to expand Bloomberg’s company research. Investors can use the tools to obtain industry insights and validate investment theses, according to Bloomberg.

The financial terms of the deal have not been disclosed.

Shawn Edwards, chief technology officer at Bloomberg, said: “Our clients are increasingly incorporating non-traditional data in their investment and business strategy decisions. 

“By combining our strengths, we will be able to expand access to this intelligence.”

Mike Babineau and Lillian Chou, co-founders of Second Measure, added: “This provides a tremendous opportunity to bring new data, tools, and methods to the market.”