Machine learning enables £110m investment round for research company
Inspiration
Research platform Atheneum has secured a £110m growth capital funding round to accelerate global expansion and quadruple UK headcount.
Atheneum delivers qualitative and quantitative research solutions for businesses around the world through its proprietary machine learning software and cloud-based insights platform.
The funding round was led by Guidepost Growth Equity, with existing investors from Crosslantic Capital Management, Michael Brehm, Vogel Communications Group and the Atheneum management team also participating.
Atheneum has built significant global capabilities in recent years with a particular strength in life sciences and technology.
The company helps users quickly understand cutting edge industry trends and the critical market information needed to drive operational excellence and product innovation.
Mathias Wengeler, Atheneum Co-Dounder and CEO, said: “We are excited for the next phase of growth and to further disrupt the fast growing, $22bn data and intelligence market.
“Our vision is to build a fully digital cockpit for primary research, a one stop shop to gather raw data from surveys, virtual focus groups to in-depth interviews – all delivered by our evolving suite of products.”
Founded in 2010, Atheneum’s management team includes Mathias Wengeler, Ammad Ahmad and Marta Margolis, who have spearheaded global growth.
The company now employs 500 staff across 11 offices including London, Munich and Shanghai and New York.
Atheneum grew by 45% in 2020 despite the coronavirus pandemic, with the injection of growth capital expected to turbocharge growth in the US and other key markets.
Ammad Ahmad, Atheneum Co-Founder and COO, added: Companies have long turned to data and insights to break ranks from the competition and capture growth opportunities.
“As an expert networks platform we are making it easier, faster and more accessible for all businesses to tap into rich resources of intelligence to support agile companies around the world to reach their growth goals faster.
“Our work begins where Google searches end.”
Key takeaways:
- Atheneum is using machine learning software and cloud computing to tap into the fast-growing $22bn market for data and intelligence
- Like a lot of knowledge-based companies, Atheneum actually grew in 2020 despite COVID-19
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