The Hamburg-based tech start-up Quantilope, which specializes in agile market research, has raised USD 8 million in a Series A financing round led by Europe’s largest B2B software investor Dawn Capital, a press release said Monday (November 5, 2018). The existing investors Senovo and Surplus are also aboard the Software-as-a-Service (SaaS) bringing the total funds to over USD 12 million.
Global expansion plans
The latest funds will go towards software development and the expansion of use cases to various organizations. Markus Grundmann, partner of the existing investor Senovo, said: “There is a strong cross-industry trend in companies to base the decision-making process on data, which explains Quantilope’s extraordinary success in market research and beyond.” Global market volume comes to USD 44 billion at present.
Machine learning and artificial intelligence
Quantilope’s automated tool combines quantitative market research methods with machine learning and artificial intelligence to generate real-time, detailed information – consumer needs, buying motives, trends and habits. Companies can receive feedback in one to three days instead of three to six weeks and save 50 to 70 per cent of costs, according to the start-up. More than 100 companies use Quantilope at present. Peter Aschmoneit, Lucas Bremer and Thomas Fandrich founded the software company in 2014 with headquarters in Hamburg and Vilnius, Lithuania.
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