Consumer Edge, a provider of consumer alternative data intelligence, announced its acquisition of Earnest Analytics, a transaction and healthcare data platform. The deal brings together two established players in the data intelligence space, with Consumer Edge gaining access to Earnest’s extensive transaction and healthcare data offerings. Financial terms of the transaction were not disclosed.
Strategic Expansion
Consumer Edge, founded in 2009 and known for its consumer-focused data intelligence, has been pursuing a strategy of selective acquisitions to enhance its market position. The company, backed by Treville Capital Group, views this acquisition as an opportunity to broaden its data capabilities and client offerings.
“We couldn’t be more energized about this next chapter,” said Kevin Carson, Founder of Earnest Analytics. “Together with Consumer Edge, we’ll unlock even greater value for our clients and take our shared vision of intelligent, accessible, and transformative data to the next level.”
Bill Pecoriello, CEO and Founder of Consumer Edge, emphasized the strategic importance of the acquisition: “This is a transformative moment for Consumer Edge. We are excited to welcome Earnest into the Consumer Edge family. This acquisition will empower us to accelerate innovation and product development, broaden our reach, and drive even greater value for our customers and partners.”
Earnest Analytics’ Data Portfolio
Founded in 2012, Earnest Analytics (formerly known as Earnest Research) has built a comprehensive suite of data products that measure consumer and healthcare economies. The company’s New York-based team of over 100 employees has developed several key data assets, including:
- Transaction Data: Products like Orion Consumer Spend and Vela Gamma Consumer Spend track consumer spending patterns, market share, and customer lifetime value since 2016
- Healthcare Data: Leo and Hydrus Medical Claims data providing insights on medical procedures, patient persistence, and healthcare utilization trends
- Product Data: Scanner data on Consumer Packaged Goods (CPG) tracking company, brand, and category sales
- Web Data: Specialized datasets for auto sellers, homebuilders, and retail pricing
These data assets serve a diverse client base including institutional investors, companies, and consultants who leverage Earnest’s platform for earnings predictions, market analysis, and strategic planning.
Industry Impact
The acquisition aligns with broader trends in the alternative data industry, where consolidation has been increasing as firms seek to offer more comprehensive data solutions to clients.
“Earnest Analytics has earned a stellar reputation for transforming complex data into clear, strategic insights,” noted Pecoriello. “Their outstanding team, powerful technology platform, and deep expertise in healthcare and transaction data perfectly complement Consumer Edge’s strengths.”
Earnest Analytics is backed by investors that include Pivot Investment Partners, Greycroft, Osage Venture Partners, and Bonfire Ventures. The company last raised $15M in Series B funding in 2019.
Looking Forward
Following the acquisition, Consumer Edge plans to integrate Earnest Analytics’ data offerings into its existing platform while maintaining Earnest’s strong presence in the healthcare data analytics space. The combined entity will continue to serve clients across financial services, corporate strategy, and management consulting sectors.
For the alternative data industry, this acquisition represents another step toward consolidation in a space that has seen significant growth and investment in recent years. Both companies emphasized that their shared focus on data quality and actionable insights would remain central to their combined operations going forward.
