Interest from Europe and the US means the Hamburg tech startup will open its first international office in the first quarter of 2019.
German Software-as-a-Service startup Quantilope has raised $8 million in a Series A funding round led by Dawn Capital, bringing its total funding amount to more than $12 million.
The latest round will be used to develop the Hamburg-based startup’s software, increase its usage across organisations, and expand its platform to outside of Germany.
Existing investors Senovo and Surplus also participated in the Quantilope funding round.
Quantilope CEO Peter Aschmoneit: “We are now empowering users across organisations to make insight-driven decisions in areas such as demand planning for ecommerce stores, car design for automotive manufacturers or marketing at consumer products firms.”
“Quantilope makes sure the voice of the consumer is heard when directional decisions are made”, added Norman Fiore at Dawn Capital. “In our conversations with consumer goods executives, it became clear that they are looking to dramatically reduce the time to market for new products.
“From new product choice to packaging to marketing strategy, Quantilope is allowing rapid market research iterations to ensure market success,” Fiore added.
Aschmoneit told WirtschaftsWoche that following the Quantilope funding round the company is looking to open offices in a new but unspecified international location in the first quarter of next year.
“So far, the focus was on business in the German-speaking area,” he said. “However, we get great interest from potential customers in much of Europe and the US.”
Quantilope’s “Agile Insights” software provides real-time insights for its clients — who include Wacom, Ernst & Young, and GfK — to learn about and respond faster to customer behaviours.
Their end-to-end SaaS tool uses AI and machine learning to support decision-making across marketing, product management, demand planning, HR, business development, and consulting.
Across the single Agile Insights platform, clients can manage tasks such as questioning, panel management, data collection, visualisation, and communications.
Its tools range from brand tracking, to measure the perception of a client’s brand over time; TV pretest, to measure the effectiveness of TV advertising; and demand score, to “recognise tomorrow’s product tops and flops”.
The company says that the research analytics market is now worth $44 billion.