Software company Remesh, whose platform uses artificial intelligence to create real-time market research, has raised $25 million in new funding to support expanded product offerings and growth.
The funding round, following what the company said was three years of 2.5x annual growth, was led by General Catalyst, with participation from LionBird, North Coast Ventures and several new investors.
Founded in 2014, Remesh has raised more than $38 million to fuel its growth in the $71 billion market research industry.
“Tightening constraints of time, manpower and resources are rendering traditional market research paradigms obsolete,” said Andrew Konya, co-founder and CEO of Remesh. “Today’s executives and insights teams need a new way to understand people. This round of funding helps bring us closer to a world where anyone can instantly understand a population.”
Remesh’s platform gives clients the ability to connect live to up to 1,000 members of a target audience, using machine learning to analyze and organize real-time responses in order to understand what customers or employees want. It was built based on years of feedback from brands, and includes features like a one-click export report after each session.
The company recently hired new VPs of marketing and delivery. Proceeds from the latest funding round will be used to expand the staff and accelerate Remesh’s U.S. expansion, including opening up a new Cleveland office later this year. The company, based in New York City, has more than 600 clients and its platform has delivered 2 million insights to date.