Funds for Alternative Data Provider Yipit

New York-based YipitData, which analyses information from receipts, credit cards, the web, public earnings announcements and a series of other datasets, has secured funding in the form of a debt facility from CIBC Innovation Banking.

The company employs around 500 people and was founded in 2013. Its key customers are investment funds and large corporations looking for alternative data on disruptive sectors including ridesharing, e-commerce marketplaces, payments and streaming video. Its CEO is co-founder Vinicius Vacanti (pictured).

CFO Steven Seperson says of the latest news: 'While our previous credit facility was not set to mature for another few years, we took this opportunity to reduce our borrowing costs. This new debt commitment demonstrates the strength of our business and provides us with the flexibility to support our strategy'.

The funding, whose amount was not disclosed, will be used to expand the firm's footprint and further develop its technology. Yipit closed a massive Series E round two and a half years ago, totalling around $475m and led by global investment firm Carlyle.

Web site: www.yipitdata.com .