Two Sigma Acquires Data Partner Liberty Source

Brad Olson and Jeff Wecker to join Liberty Source Board of Directors

NEW YORK –  September 28, 2021 – Two Sigma announced today that it has acquired Liberty Source, an onshore, socially responsible alternative to traditional business process outsourcing (BPO). Liberty Source provides data workflow management services for data-driven organizations and is an established data partner of Two Sigma.

Through this agreement, Liberty Source plans to expand its data services offering while advancing its mission to provide jobs to military spouses and veterans. As a certified B Corp and Public Benefit Corporation, the company employs primarily veterans and spouses of active-duty service members. Liberty Source will continue to operate as an independent entity.

“Liberty Source has been an important partner for Two Sigma’s data pipeline and ingestion processes, supporting our engineering team with crucial data workflow management services and the collection, curation and structuring of data, all delivered through a highly disciplined and talented workforce,” said Jeff Wecker, Chief Technology Officer at Two Sigma. “Liberty Source’s unique offering and dedication to providing jobs to military spouses and veterans – an underserved yet talented segment – offers a competitive advantage in the industry, and we are excited to continue to grow the organization and advance its mission.”

“This deeper partnership with Two Sigma marks the start of an exciting chapter for our company, our clients and our employees, and we are grateful for this opportunity to work more closely with a long-time, valued client. The acquisition will enable us to accelerate our long-term strategy execution and deliver best-in-class solutions to the market,” said Robert Siegel, President and Chief Operating Officer at Liberty Source.

Two Sigma acquires Liberty Source from Digital Divide Data (DDD), a social enterprise that delivers digitization, data preparation, and data annotation services to clients worldwide. This is DDD’s second successful spin out of a social enterprise company. “We look forward to the next phase of growth for Liberty Source in partnership with Two Sigma”, said Jeremy Hockenstein, CEO and Co-Founder of DDD.

About Two Sigma

Two Sigma is a financial sciences company, combining rigorous inquiry, data analysis, and invention to solve the toughest challenges in investment management, insurance, securities, private equity, and venture capital. Founded in 2001 by David Siegel and John Overdeck, Two Sigma employs over 1600 creative minds, and has offices in New York, Houston, Portland, London, Tokyo, Hong Kong and Shanghai. For more Information visit

About Liberty Source

Liberty Source is an onshore, socially responsible alternative to traditional business process outsourcing (BPO). The company provides data workflow management and data analysis services to clients, including but not limited to: workflow design; delivery of data; the collection, curation, cleaning and/or structuring of data; entity mapping; validation tasks; web research; building datasets; data quality management and other similar BPO services.

The company is incorporated as a Public Benefit Corporation, a for-profit entity designed and engaged as a responsible and sustainable enterprise, managed for the benefit of its clients, its shareholders and the broader public interest. Liberty Source is transforming the way corporate executives engage with the outsourcing industry and is revolutionizing career paths for the military community.

About Digital Divide Data

Digital Divide Data (DDD) is a US based non-profit with the mission of using technology and digital skills to bridge the divide between economically and socially marginalized youth and employment opportunities that lead to a sustainable and viable future. Recognized as a pioneer in Impact based outsourcing, DDD has trained and supported over 7,000 youth in Kenya, Cambodia, and Laos over the past 10 years, increasing their lifetime earnings by a projected total of more than US$350 million.

To create an impact with underserved communities, DDD provides commercial BPO services, including content digitization, labeling and annotation of datasets for machine learning, back office data processing, graphics and photo editing, data curation and structuring, and web scraping. DDD’s delivers outstanding data quality and client service by serving as an extension to the client’s data operations team – combining humans-in-the-loop, process excellence, and best-in-class data security. For more Information visit

This article is not an endorsement by Two Sigma of the papers discussed, their viewpoints or the companies discussed. The views expressed above reflect those of the authors and are not necessarily the views of Two Sigma Investments, LP or any of its affiliates (collectively, “Two Sigma”). The information presented above is only for informational and educational purposes and is not an offer to sell or the solicitation of an offer to buy any securities or other instruments. Additionally, the above information is not intended to provide, and should not be relied upon for investment, accounting, legal or tax advice. Two Sigma makes no representations, express or implied, regarding the accuracy or completeness of this information, and the reader accepts all risks in relying on the above information for any purpose whatsoever. Click here for other important disclaimers and disclosures.

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