Knit Announces $9M Funding Round & Launches 'Report-Ready Insights,' Powered by Researcher-Driven AI

AUSTIN, Texas, Sept. 18, 2024 /PRNewswire/ -- Knit, the platform dedicated to streamlining the consumer research process using AI, today announced the closing of a $9 million funding round and partnerships with brands like T-Mobile, NASCAR, the WNBA, Mars Wrigley, Overtime, and JBL. The round was led by Revolutions's Rise of the Rest Seed Fund, with participation from new investors Osage Venture Partners, GFT Ventures, Visible Ventures, and Massive Ventures and existing investors Silicon Road Ventures, Felton Group, and Alumni Ventures.

Knit enables insights professionals and researchers to conduct agency-quality research in days, not weeks, marrying quantitative and qualitative data in the same survey for comprehensive, thorough insights. In the past year, Knit has onboarded more than 30 enterprise brands and grown its annual recurring revenue 5X. The team has used the funds to launch its latest offering: Report-Ready Insights, which helps researchers run agency-quality quantitative and qualitative research at DIY costs, by taking the most time-intensive research tasks off their plate through Researcher-Driven AI.

"At Knit, our goal has always been to make researchers' jobs easier," says Aneesh Dhawan, Co-Founder and CEO of Knit. "We're excited about Report-Ready Insights because it does just that – allowing our customers to go from business questions to stakeholder-ready top line reports in days, without compromising speed, cost, or quality. It's ultimately changing the way research is done." 

Through Knit, a researcher's expertise and institutional knowledge are the engine, and Knit's AI is the navigator, optimizing the research process so it's faster, more customizable, and more focused on what matters most.

"The market is filled with 'off-the-shelf' AI analysis tools, which often lead to generic outputs, forcing the researcher to spend time, money, and manual efforts converting data to stakeholder reports. What we are doing is different." says Raahish Kalaria, Co-Founder and CTO of Knit. "Knit is taking a unique approach to AI - one that begins with the human researcher."

"We're excited to continue to back Knit as they redefine the landscape of consumer insights," says David Hall, Managing Partner, Revolution's Rise of the Rest Seed Fund. "We've been impressed by Knit's rapid adoption among leading brands. Their innovative approach to AI-assisted research clearly resonates, and we're excited to support their continued momentum as they launch Report-Ready Insights."

"We're inspired to see Knit pushing the boundaries of consumer insights with their researcher-driven AI," says Ross Kimbel, Managing Director and Partner at Silicon Road Ventures. "The team's ability to quickly partner with top brands and deliver insights is a testament to their deep customer and market understanding. We're proud to back them as they continue to shape the future of the insights industry with their launch of Report-Ready Insights."

"Knit is changing the game on how brands gather, assess and act on consumer insights with remarkable speed and precision," says Sean Dowling, Managing Partner at Osage Venture Partners (OVP), who joined Knit's Board of Directors upon OVP's investment. "Their unique AI-driven platform stands out in a crowded market of solutions. Their growth reflects the real value they're delivering, and we're excited to be part of their journey as they continue to innovate in this space."

Knit recently presented alongside Mars Wrigley at the Corporate Research Conference (CRC) on customer research innovations in New York on September 16-17, 2024. The team will also present with T-Mobile at The Market Research Event (TMRE) on October 8, 2024.

ABOUT KNIT
Knit is the end-to-end, AI-native platform automating the consumer research process. Founded in 2021, Knit believes AI has the power to democratize rigorous, agency-level research across enterprise organizations - enabling brands to make better and more data-backed decisions for their customers. For more information about Knit, visit https://goknit.com.

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SOURCE Knit