In New York, consumer insights platform Morning Consult has raised $60m in a Series B round of funding, which values the company at $1.01 billion. Funds will be used for development of its data collection technology and expansion into the EMEA and APAC regions.
Founded in 2014, Morning Consult surveys tens of thousands of respondents across the globe every day to assess trends in opinion in real time, and determine how their decisions impact business, politics and the economy. The company's flagship product, Morning Consult Brand Intelligence (MCBI), features daily tracking of brand metrics for nearly 4,000 brands in fifteen countries; and is complemented by Morning Consult Economic Intelligence, which offers a daily gauge of consumers' confidence in the economy, businesses and their own financial futures. It also offers a Political Intelligence solution tracking dynamics across all legislative levels.
New funding has been led by Advance Venture Partners, with participation from Susquehanna Growth Equity and Lupa Systems, adding to the $31m raised a year ago. Morning Consult's CEO and co-founder Michael Ramlet (pictured) comments: 'We're only just beginning to disrupt an antiquated $90 billion industry. This round will power our development of additional AI applications, the continued growth of our global data collection infrastructure, and the launch of EMEA and APAC region commercial operations'.
Web site: www.morningconsult.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.