Numerator Acquisition, Valuation, Funding & Investors

Numerator was acquired by Kantar for $1.5B in April 2021, a 8.5x multiple on $176M of revenue.

Numerator acquisition price

$1.5B

Acquired by Kantar · Apr 2021

Numerator revenue at acquisition

$176M

Last twelve months · Apr 2021

Numerator revenue multiple at acquisition

8.5x

EV/Revenue · Apr 2021

Cumulative funding Numerator raised

$21M

across 2 funding rounds

Numerator Overview

About Numerator

Numerator is a Chicago-headquartered market intelligence provider aggregating data from 500 million annual purchase receipts via its InfoScout panel. Acquired by Vista Equity Partners in 2018, it links CPG sales for Nike and Procter & Gamble to promotions tracked across Walmart and Amazon. Clients access weekly path-to-purchase analytics covering 2,500 product categories.


Founded

1990

HQ

United StatesChicago, IL

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$176M (Apr 2021)

Valuation

$1.5B (acquired Apr 2021)

Numerator Acquisition

Numerator was acquired by Kantar for $1.5B on 19 April 2021.

The acquisition price implies a 8.5x revenue multiple on $176M of revenue.

Before the acquisition Numerator had raised $21M across 2 funding rounds.

Numerator acquisition details
AcquirerDateTypePriceEV/Revenue
  • Kantar
19 Apr 2021Strategic M&A$1.5B8.5x

Numerator Funding History

Numerator has raised a total of $21M across 2 funding rounds.

Numerator's first fundraising round was a $5M Series A in May 2013. The most recent completed round was a $16M Series B in June 2014.

Numerator funding rounds

Numerator funding rounds
DateStageInvestorsRaised
Jun 2014Series BHorizon Partners; MHS Capital; Bain Capital Ventures$16M
May 2013Series ABain Capital Ventures (lead); Founder Collective; dunnhumby Ventures$5M

Who has invested in Numerator?

5 investors have backed Numerator across its funding rounds, including Bain Capital Ventures, Founder Collective, MHS Capital, dunnhumby Ventures and Horizon Partners.

Lead investors include Bain Capital Ventures.


Numerator Investors

Investors in Numerator by funding rounds participated
InvestorHQRoundsRoleFirst check
Bain Capital VenturesUnited StatesSan Francisco, CA2LeadMay 2013
Horizon PartnersUnited StatesSan Francisco, CA1ParticipantJun 2014
MHS CapitalUnited StatesSan Francisco, CA1ParticipantJun 2014

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Acquisitions by Numerator

Numerator has acquired 2 companies to date.

Last acquisition by Numerator was on December 20th 2021. Numerator acquired HatchTank for undisclosed valuation.


Latest Acquisitions by Numerator

HatchTank
Information Machine LLC
Description
HatchTank is a qualitative research platform that facilitates online focus groups and consumer interviews via web and mobile interfaces. Headquartered in New York, it supports interactive stimuli like image uploads, video clips, and concept testing in real-time sessions. Clients from brands such as Procter & Gamble and Unilever use it for agile market research, with features for observer access and collaborative moderation.
Information Machine LLC is a developer of an API that integrates item-level purchase streams into mobile and web applications. The platform passively collects data from loyalty card transactions, online purchases, receipt scans, and barcode inputs. Upon user requests, it enriches purchase history with product details like nutrition facts and pricing, delivering comprehensive information to app developers serving consumer-facing services.
HQ CountryCanadaUnited States
HQ City
Calgary
New York City, NY
Deal Date20 Dec 202116 Dec 2020
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Numerator Competitors

Numerator competitors include listed companies like Ipsos and Clarivate, and private ones like Alida, Mu Sigma, Morning Consult and Sutherland.

Public and private companies comparable to Numerator
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AlidaCanadaTorontoPrivate--$1.5B-
Mu SigmaIndiaBangalorePrivate$200M-$1.5B7.5x
IpsosFranceFrancePublicly listed$2.9B$429M$1.7B0.7x
ClarivateUnited KingdomUnited KingdomPublicly listed$2.5B$829M$1.2B2.2x
Morning ConsultUnited StatesWashington, DCPrivate$50M-$1B-
SutherlandUnited StatesRochester, NYPrivate--$1B-

Numerator Public Comps

Numerator is no longer listed, but its public comps include Ipsos, Clarivate, Beijing Dataway Horizon, Latent View Analytics, GlobalData, Mitsubishi Research, Enento Group, YouGov, Fintel and CRISIL.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ipsos$2.9B$429M0.7x0.7x4.8x4.5x
Clarivate$2.5B$829M2.1x2.2x6.3x5.3x
Beijing Dataway Horizon$54M($3M)9.8x-(184.5x)-
Latent View Analytics$111M$27M4.4x4.0x17.8x18.2x
GlobalData$433M$140M1.7x1.7x5.3x5.0x
Mitsubishi Research$781M$88M0.6x0.6x5.3x5.7x
Enento Group$176M$50M3.3x3.2x11.6x9.2x
YouGov$522M$99M1.3x1.2x6.6x5.8x

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Common questions about Numerator

When was Numerator founded?Numerator was founded in 1990.
Where is Numerator headquartered?Numerator is headquartered in Chicago, IL, United States.
Is Numerator publicly listed?No, Numerator was acquired by Kantar in April 2021.
Who acquired Numerator?Numerator was acquired by Kantar in April 2021.
How much was Numerator acquired for?Numerator was acquired for $1.5B in April 2021, a 8.5x revenue multiple.
How much funding has Numerator raised?Numerator has raised $21M across 2 funding rounds.
What was Numerator's last funding round?Numerator's last funding round was a $16M Series B in June 2014.
Who are Numerator's investors?Numerator's investors include Bain Capital Ventures, Horizon Partners, MHS Capital, Founder Collective and dunnhumby Ventures.
Which companies are comparable to Numerator?Companies comparable to Numerator include Alida, Mu Sigma, Ipsos, Clarivate, Morning Consult and Sutherland.
How many companies has Numerator acquired?Numerator has acquired 2 companies, including HatchTank and Information Machine LLC.

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