A San Francisco company with a D.C.-area presence that pays people to snap photos of products on store shelves and record observations, such as prices in their local markets, is expanding.
Premise Data, a small, fast-growing data and analytics company, is moving its Washington-area operations from Arlington to the District and says it plans to double its local workforce.
Premise Data’s services include price monitoring, product tracking and movement patterns. It gives companies insights into where their products are ending up on shelves and what retailers are charging for them. It also provides analysts, economists and governments with real-time data on consumer prices and inflation.
Premise currently has 25 employees at its Rosslyn office on N. Fort Myer Drive in Rosslyn, where it occupies about 1,400 square feet.
Its new space, which it will occupy in November, is more than triple that, at 6,500 square feet. Its new location is in Penn Quarter, at 909 E Street NW.
The company, founded in 2012, has backers that include Valor Equity Partners and Google Ventures.
Premise Data’s board members include former U.S. Treasury Secretary Larry Summers.
It mines data using a network of paid contributors who do everything from taking pictures to answering client questions about their products in the marketplace, via smartphone apps.
Its network of app-based contributors work in markets worldwide.
“We are working to expand our capacity to inform our clients on day-to-day trends in real-time, in any region,” said CEO Maury Blackman. “We’re harnessing data in a way that adds value for our customers and our contributors.”
It says it is on pace to process more than 100 million submissions this year, with more than 100,000 accepted submissions a day.
The company also has offices in Seattle and Portland, Oregon.
