Press Release – Rating Agency Early Metrics Closes 7 Million Euro Funding Round
By Anais Masetti - 19 December 2018
For immediate release 12 December 2018: Early Metrics, the international startup rating agency, today announces the closing of its first funding round led by Pléiade Investissement. Today’s funding will enable the business to anchor its leading position in a growing market and expand its international reach in Europe and beyond.
Early Metrics, the leading rating agency for innovative startups, has raised 7 million euros, 5 million of which is in equity and 2 million via bank financing. The business measures the growth potential and robustness of young innovative tech companies. The rating is based on extra-financial criteria and supports decision-makers from big corporates and investors.
Since its launch in 2014, Early Metrics has seen triple-digit annual growth, primarily self-funded. In four years, more than 2,400 startups have been rated on behalf of 280 clients. These include brands such as Crédit Agricole, Barclays and L’Oréal. The business has expanded internationally and now has offices in France, the United Kingdom, Israel and Germany.
Antoine Baschiera, CEO and co-founder of Early Metrics, comments: “During our early years, my partner Sébastien and I focused our efforts on validating our unique rating model whilst growing revenue. In our opinion, these are the key determinants of success in the first years of a startup, so much more important than fundraising.
“It is only now, with a robust rating model, four open countries and strong commercial traction that we have decided to open up our capital to align our financing strategy with our strong growth ambition. The key challenge for us was to select relevant shareholders with no time constraints and real reinvestment capabilities. We are very happy to welcome experienced investors who are experts in our sector and can support us in the long term. ”
Joining Early Metrics:
- – Pléiade Venture and Pléiade Investissement, represented by Emmanuelle Guez. Pléiade is a group of entrepreneurial investors involved in the long-term growth of their holdings.
- – RAISE Ventures, represented by Gonzague de Blignières. RAISE Ventures is an investment vehicle dedicated to innovative and fast-growing startups. According to the RAISE model, the management team pays 50% of its profit-sharing to fund the RAISESHERPAS endowment fund, dedicated to entrepreneurship.
- – CF Partners, represented by Rodolphe Carle, an investment holding of the brothers Rodolphe and Edouard Carle, who founded Babilou among others.
- – Fimalac, represented by Marc Ladreit de Lacharrière, which develops 5 areas of activity: private equity with Warburg Pincus, digital media and entertainment through Webedia, live entertainment through the organization of shows and the operation of theatres (FIMALAC Entertainment), the hotel and leisure sector through the Barrière Group, and a real estate portfolio, mainly offices. For almost two decades, Fimalac was the sole shareholder and then the majority shareholder of Fitch Ratings, the world’s third largest rating agency.
- Gonzague de Blignières, Co-Founder of RAISE, commented: “Early Metrics has been in the RAISE ecosystem since its inception and I have had the pleasure of following its development and accompanying its founders until today. In the last three years, Antoine and Sébastien have proven their capacity for execution and internationalization by generating strong traction in a nascent market. With the creation of RAISE Ventures, a vehicle dedicated to young high-growth companies, it is only natural that we made the decision to become a shareholder to further support the promising journey of Early Metrics. “
François Poirier concludes on behalf of Pléiade Venture and Pléiade Investissement: “We are very happy to become a shareholder in Early Metrics. We have recognized what we love, a profession of the future and a team that inspires trust and support in its customers. We intend to live together a business adventure in the very long term, comparable to what we have been experiencing for 20 years, with Cojean, Divalto, Generix or SmartTrade. ”
These new resources and associated support will enable Early Metrics to anchor its leading position in a growing market and expand its international reach in Europe and beyond. Lastly, this capital increase will make it possible to address new market segments.