Euromoney acquires 10% stake in Estimize 

euromoneyEuromoney Institutional Investor PLC, (“Euromoney” or “the group”), the international online information and events group, today announces that it is acquiring a 10 percent equity stake in Estimize, the most comprehensive financial estimates platform, for a consideration of US$3.6m, funded from its existing cash resources. The investment is part of a US$6m Series B round aimed at expanding the capital base of Estimize. Other key investors include Contour Venture Partners and Longworth Venture Partners. As part of the transaction, Euromoney will receive Series B preferred stock, a board observer seat and full information rights.

Estimize (, founded in 2011 by former quantitative hedge fund analyst Leigh Drogen, sources estimates from over 7,000 hedge fund, brokerage, and independent analysts as well as a diverse community of individuals. By being more representative of market expectations, its consensus has proved to be more accurate than I/B/E/S (Institutional Brokers’ Estimate System) over 69% of the time, according to research by Deutsche Bank (“The Quant View Paper”, March 2014), and its underlying technology is regarded as highly innovative by various US academic institutions. Estimize data is available on major financial research platforms including Bloomberg and is frequently cited in top-tier financial media outlets. In 2014, Estimize recorded unaudited revenues of US$71k, a loss before tax of US$1.24m and gross assets of US$496k. The firm has 20 employees.

For the full press release click Investigate