Denver, CO (PRWEB) June 12, 2013
GutCheck, which brands of all sizes use to instantly assemble targeted, on-demand communities for timely, rich insights, announced today that it has completed a $4 million Series B equity financing. This financing includes new investors, Grotech Ventures and Crawley Ventures, along with existing investors Highway 12 Ventures and Village Ventures. GutCheck will use the cash infusion to expand sales, marketing and engineering to meet increasing customer demand.
GutCheck has “completely disrupted the market for on-line research communities by reducing the time-to-insights from weeks to hours,” said Joseph R. Zell, Grotech Ventures general partner. “We invested in the company because it has a significant competitive advantage with its technology-enabled solution and a breadth of clients small to large who use their solution routinely for real insights that are positively impacting their business decision making.”
GutCheck had a very successful year in 2012 and is raising the additional funds in order to fuel greater growth. Over the course of the past year the company launched its on-demand community solution, gaining significant traction in the marketplace while expanding its customer ranks to include corporate customers like Proctor & Gamble, as well as digital and creative agencies like 360i and Kaleidoscope.
The company is currently on track to triple sales in 2013, and is already ahead of projections for the second quarter. “The completion of our Series B funding is perfectly timed to allow us to grow the company and to meet the ever-growing need for agile market research,” said Matt Warta, CEO of GutCheck. “I am proud to lead the company as we leverage what we’ve learned and grow to meet the needs of our customers and target markets.”
“For years, products were marketed based on instinct or ‘gut’ alone, and you saw a lot of failures,” Zell added. ”Something like only 11 percent of Fortune 1000 companies are using feedback from their customers to refine and market their products, messages and services. GutCheck is changing that, because of its solution and its price point. The solution gives these Fortune 1000 companies the ability to be agile, refining their marketing concepts based on feedback from actual customers, gaining insights from targeted consumers in-the-moment, and optimizing products so that it pleases the people who are most likely to buy. That’s valuable, and GutCheck’s phenomenal growth is a testament to the value it brings to these brands.”
GutCheck delivers a unique agile research solution that gives marketers, researchers, and agencies rich, consumer insights without spending weeks waiting for answers. The company won the top prize at DEMO in March 2011, and today customers work with GutCheck to refine product concepts, optimize marketing messaging and decipher social media sentiment to help them make brand business decisions faster and smarter. For press inquiries, please visit: http://www.gutcheckit.com.