On-demand market research provider GutCheck has raised a $4 million round of financing led by Icon Venture Partners and including existing investors. Details of the financing weren’t disclosed, but the funding was an up round. The Denver-based company has now raised $10 million in total funding, including a $4 million Series B round last year from Grotech Ventures, Crawley Ventures, Highway 12 Ventures and Village Ventures. As part of the recent deal, Jeff Hinck, general partner of Icon, has joined the board.
GutCheck Nets New $4 Million Investment for Expansion of On-Demand Market Research Platform
Company delivered strong 2013 financials, added to its leadership team and tripling staff as one of the fastest growing consumer research firms in the country
DENVER – January 28, 2014 – GutCheck, the leading on-demand research community platform, announced today that it has secured an unsolicited $4 million in new investment from Silicon Valley-based Icon Venture Partners and existing investors. This investment joins an additional $4 million in Series B financing announced in May 2013. GutCheck will use the cash infusion to continue aggressive sales, marketing and product development expansion to meet customer demand.
Icon Venture Partners, founded in 2012 by veteran investors Charles Beeler and Jeff Hinck, invests in high growth enterprise technology companies. “GutCheck is exactly the type of company we see profiting from the continued trend among corporations to do more with less,” said Jeff Hinck, General Partner of Icon Venture Partners. “GutCheck’s cloud-based market research solution is being embraced by many of the most successful and well-known consumer brands because it’s turning consumer insights research on its head with an agile approach to an old-school industry.”
With this investment by Icon, Hinck joins the GutCheck board of directors which includes other investors from Grotech Ventures, Crawley Ventures, Highway 12 Ventures and Village Ventures.
GutCheck also announced that it completed its fiscal year 2013 with almost four times revenue growth over results in 2012. CEO Matt Warta noted that the aggressive growth included a tripling of staff and the addition of new sales and product engineering leadership. “It’s been an amazing year for us capped by the addition of this $4 million investment,” said Warta. “We are forecasting even greater growth in 2014 in order to meet the significant demand coming from our consumer products clients here in the U.S. and abroad.”
GutCheck is an on-demand research community solution that provides immediate insights from specific consumer segments at any time and with quality that is superior to traditional online communities. Unlike these offerings that want for speed and accuracy, GutCheck delivers highly actionable feedback in days and without the need to invest hundreds of thousands of dollars upfront. For more information: http://gutcheckit.com.