SAN DIEGO, June 26, 2020 /PRNewswire-PRWeb/ -- We are delighted to announce that GroupSolver has raised $2M which marks the 3rd fundraising round since its inception. The round was led by Eterus Capital, Slovak private equity fund, with Tech Coast Angels and others contributing.
The completed financing brings fresh growth capital to a start-up that doubled its revenue last year and achieved profitability. "We are excited to continue our journey of transforming online surveys into a smarter and more effective insights tool. This capital infusion will help us keep up with market demand while speeding-up introduction of several transformative product features our customers have asked for," said Rasto Ivanic, GroupSolver's co-founder and CEO. "Innovating quickly for the post-COVID consumer will be a major differentiator of success for our customers. GroupSolver's ability to make their consumer research faster and more insightful is proving to be a critical ingredient of such success."
Eterus Capital has now joined Neulogy Ventures and Tech Coast Angles in supporting the growing business. "GroupSolver has shown a stellar operational and financial performance since its founding in 2014. Its unique capabilities in providing insights to global leaders such as Adidas, Amazon, Google, or IRi provide a truly solid foundation for future growth. The transaction was conducted as an increase in the company's equity capital, which is aimed to accelerate GroupSolver's expansion of its SaaS offering and service delivery capabilities" said Boris Kostík, Director at WOOD & Company.
"We are thrilled for GroupSolver," said Caitlin Wege, President of Tech Coast Angels - San Diego. "Rasto and the team think consciously about their business decisions, keeping financial viability at the forefront, while delivering growth. This new capital infusion comes at the perfect time; the launchpad is in place; now, it is time to lift off and reach further into the market with product expansion, and distribution. GroupSolver has always been agile; this will add speed and continued innovation."
GroupSolver is a market research technology company based in San Diego, with operations in Utah and Slovakia. It has built an intelligent market research platform (think "online survey with a brain") that helps businesses answer their burning why, how, and what questions faster and with more confidence. By combining machine learning and crowd intelligence, the GroupSolver® technology helps decision-makers and researchers find insights that traditionally remain hidden from online surveys or focus groups.
Learn more at: https://www.groupsolver.com
About Eterus Capital:
Eterus Capital is a Slovak private equity fund focused on investments in growth-phase small and medium-sized companies that have been operating in the market since 2008. The fund is managed by WOOD & Company, a leading investment group with a strong position in the Central European market. The fund also focuses on providing transaction advisory, securities trading, and asset management.
Learn more at: https://eterus.sk/en/
About Tech Coast Angels:
Tech Coast Angels (TCA), the largest angel investor group in the U.S., has been fueling the growth of innovative companies and entrepreneurs in Southern California since 1997. TCA identifies, mentors and funds early-stage companies to help get their ideas to market, and where TCA members devote their time, expertise and capital to help companies grow and succeed.
TCA members number over 450 and consist of experienced CEOs, senior executives, current and former entrepreneurs, venture capitalists, and other professionals. Members not only invest but frequently serve on boards and assist companies with relationships, strategy, supply chain, team building, and additional fundraising.
Since 1997, TCA members have invested over $250 million in more than 450 companies and have helped attract more than $1.7 billion in additional capital/follow-on rounds, mostly from venture capital firms.
Learn more at: http://www.tcasandiego.com
SOURCE GroupSolver, Inc.