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Morning Consult, the Washington, D.C.-based research and polling firm, has raised a $60 million Series B round that values the company at over $1 billion.

Why it matters: It's a rare tech success story coming out of D.C.

  • "We took a very different approach to building the tech first," says Michael Ramlet, co-founder and CEO of the firm, "in a field that was ripe for disruption," he noted, referencing the $90 billion global market research industry.

Details: The round is being led by Advance Venture Partners to accelerate the company's investments in global data collection and its presence in Asia, Europe, the Middle East and Africa, and to scale its data set, says Ramlet.

  • Additional investors in the round include Susquehanna Growth Equity and Lupa Systems.
  • The company is hoping to expand its data collection capabilities in 15 of the countries with the largest economies, to 50, by year's end. It also wants to grow its proprietary data set of 20 million interviews to 35 million in that time.

The big picture: Morning Consult launched with little outside capital. The company launched via a friends-and-family round of $30,000 in 2014.

  • It raised a $31 million Series A funding round last year, bringing its total private funding to $91 million. At the time of its Series A round, it was valued at $306 million, three times less than its current valuation.

Go deeper

Scoop: The Chernin Group raising $1 billion for new investments

Data: The Chernin Group; Chart: Andrew Witherspoon/Axios

The Chernin Group (TCG), an investment firm that specializes in consumer brands in media and tech, is raising $1 billion to drive its third round of investments, sources tell Axios. It's adding three new partners as it looks to invest in more brands and new technologies, like blockchain.

Why it matters: A string of successful investments over the past few years has helped the firm expand to more investments in companies at a later stage.

Jun 8, 2021 - Health

Mastercard Foundation donates $1.3 billion to Africa's COVID-19 response

A Red Cross volunteer takes the temperature of a man in Kampala, Uganda, on April 1, 2020. Photo: Sumy Sadurni/AFP via Getty Images

The Mastercard Foundation announced a $1.3 billion donation aimed at improving Africa's coronavirus response Tuesday, the Washington Post reports.

Why it matters: The funding will be distributed over three years and is intended to help acquire vaccines for more than 50 million people and improve manufacturing and delivery systems.

Dan Primack, author of Pro Rata
Jun 7, 2021 - Economy & Business

Private equity firms strike $30 billion deal for Medline

Illustration: Aïda Amer/Axios

When news broke last month that groups of buyout firms were bidding around $30 billion to buy medical supplies firm Medline Industries, we speculated that it could kick off a new "Golden Age" of private equity, an era that directly preceded (but didn't cause) the financial crisis.

Driving the news: Medline has picked its patrons, a consortium led by The Blackstone Group, The Carlyle Group and Hellman & Friedman. But the details make this feel more like a growth equity deal on steroids than a mega-LBO of yesteryear.

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