NEW YORK, July 23, 2020 /PRNewswire/ -- Market research innovator quantilope today announced a $28 million Series B fundraising round, bringing its total amount raised to $40 million.
The Series B investment was led by Digital+ Partners with Silicon Valley Bank providing debt financing and participation from quantilope's existing investors at Dawn Capital, Senovo, and Surplus - a mark of continued trust and excitement in quantilope's technology. The funds will be used to further expand quantilope's offering in Europe and the US with a focus on growth in the American market. quantilope will also leverage the capital to further develop their technology through AI, automating additional research methodologies, and creating a greater emphasis on support, empowerment, and collaboration in the supplier/client relationship.
"The entire quantilope team is super excited to announce our Series B funding, a major step towards achieving and accelerating our mission to enable agile insights at a global scale," explained quantilope CEO Peter Aschmoneit. "Now more than ever, we see the need for fast and deep consumer insights for brands to stay closely connected to their consumers radically changing motivations, needs, and behaviors. The future of insights is about speed, efficiency, high-quality data, and collaboration among teams. quantilope is leading the way."
quantilope is an agile insights platform automating advanced consumer research methodologies on an end-to-end platform for holistic project management. quantilope's automated end-to-end platform delivers results 3x faster than traditional research agencies with an average turnaround time of 1 – 5 business days. This includes the questionnaire design, panel management, live reporting, in-depth analysis, and data visualizations.
"We believe that quantilope is exceptionally well positioned to modernize the market of market research by digitizing the workflow of consumer insights generation," stated Thomas Jetter, partner at Digital+ Partners. "Above all, the combination of an excellent team with strong technical competence and a mature technology platform convinced us. We are delighted to be on board and to further support quantilope on its way to becoming the leading international Agile Insights platform."
"quantilope's leading platform and its team continues to convince us of their strong future. We are very confident that they'll successfully scale and expand their business globally. We're pleased to be part of their growing success story and are here to continue to provide support, when they need it," said General Manager of Silicon Valley Bank's Germany Branch, Oscar Jazdowski.
quantilope was founded in Hamburg, Germany in 2014 and expanded into the US in 2019 following an initial Series A investment. quantilope has served over 200 clients world wide and in the past year their US-based client list has increased more than 450%. In 2020, quantilope earned a spot on the Deloitte Tech Fast 50 list in Germany and debuted on the GRIT report's Top 50 Most Innovative Companies List. The GRIT report is the most comprehensive and widely read analysis of the insights industry, ranking the leaders disrupting the market research space.
"quantilope has grown more than tenfold since Senovo's first investment - made possible by a new approach to agile and innovative market research. We are very impressed with the success of the team and look forward to supporting them in the future to contribute to innovative market research," explained Markus Grundmann, Partner of Senovo Capital.
"The current market research industry is valued at over $47 billion globally with the largest markets in the US, followed by the UK and Germany," said Aschmoneit. "The massive industry illustrates the demand for consumer insights to drive informed decision making and fuel growth for brands and organizations across all sectors. A demand that quantilope is eager and ready to serve."
About quantilope: quantilope is an agile insights platform automating advanced research methodologies including Conjoint, MaxDiff, TURF, Implicit Association Tests, Tracking and more. Our end-to-end platform maps the entire market research process from the research question to the questionnaire design, professional panel management, live reporting, in-depth analysis, and data visualization. The average project turnaround time is 1 – 5 business days.