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An explosion in the data-driven economy offers crisis-stricken Europe hopes of recovery, but policymakers who lack the means to measure the phenomenon face challenges in a sector bracing for new regulation.

Services linked to information and communication technologies have consistently outperformed an otherwise lacklustre economy, growing by 5% to 10% in 2012, according to the Organisation for Economic Co-operation and Development’s Internet Economy Outlook, published last October.

The explosion in supply of tablet PCs and smartphones, and the opportunities for online data storage in the cloud, have helped buoy the ICT sector even during the 2008 financial crisis. The OECD report says larger firms recorded 6% growth in annual revenue  between 2000 and 2011.

42Floors, the Y-Combinator-incubated startup that has built a search engine for the office rentals market, has raised another $12.3 million — funding that founder Jason Freedman says the company will use to take its service to markets outside of San Francisco and New York, including its first international move to London by the end of this year. The Series B round was led by new investor NEA, with participation from existing backers Bessemer Venture Partners and Thrive Capital, as well as new investor Columbus Nova Technology Partners.