Bounce Insights, an Irish startup specialising in AI-powered market research, has announced a €4.2 million funding round led by ACT Venture Capital. This funding will fuel the company’s expansion into the US market, including the opening of a New York office to support its 25-person team and plans to triple its headcount globally by the end of 2026.
Other participants in the round include Irrus Investments, Enterprise Ireland, and Digital Irish Venture Fund, along with Ian Kiernan, founder of MRops.
Rónán Dowling-Cullen, Co-Founder and Co-CEO of Bounce Insights, commented on the latest funding: “This funding is fuel that will allow us to continue to ship new product fast, expand our offering for clients and grow the team to execute on a massive opportunity. We are raring to go, it’s going to be an exciting few years.”
According to Bounce Insights, their platform, which combines proprietary data, generative AI, and in-house expertise, automates 90% of the market research process. Bounce Insights reportedly delivers actionable insights to brands seven times faster and at 40% lower cost compared to traditional research agencies. Current clients include Coca-Cola, Diageo, Tesco, Mondelez, Unilever, and Marks & Spencer.
Founded in 2022 by Rónán Dowling-Cullen, Charlie Butler, Brandon Dooley, Josh Stafford, and Brian O’Mahony, Bounce Insights has raised €6.1 million to date.
As part of the company’s US expansion, Co-Founder and Co-CEO Charlie Butler will relocate to New York to lead the company’s early operations there. He said: “We leverage generative AI and proprietary datasets to not only replace the number of humans in the market research process, but build a superior offering for brands. It is an industry dominated by repeatable tasks, and we are going to change that.”
According to Bounce Insights, their success lies in their ability to provide a seamless blend of qualitative and quantitative data. To support its growth, Bounce Insights is prioritising hiring in software engineering, sales, and research roles across Dublin, London, and North America.
Mairéad Roche of ACT Venture Capital shared her enthusiasm for the platform: “Marketing decisions are investment decisions, the best of which are made from a mix of quantitative and qualitative data; Bounce’s AI infused platform gives global household-namebrands access to consumer insights with unrivalled agility and accuracy.“
Read the orginal article: https://www.eu-startups.com/2024/12/dublin-based-bounce-insights-raises-e4-2-million-to-expand-its-ai-powered-market-research-platform-into-the-us/
