CHICAGO, Nov. 21, 2022 /PRNewswire/ — QualSights, the fastest growing insights company in America, announced today it has raised a $7.7 million Series A funding round, led by 4490 Ventures, an early-stage venture capital firm based in Madison, Wisconsin, to support QualSights’ strategic growth and hiring.
QualSights is an insights technology platform that helps brands grow using patented technology that captures offline consumer behavior data while removing the limitations that keep brands from generating richer insights. QualSights is a trusted partner to many Fortune 500 clients in CPG, Pharmaceutical, Technology and other industries, helping with product innovation, renovation and optimization around the world.
“It has been a pleasure to witness QualSights’ unprecedented approach and growth in the field of consumer insights,” said Dan Malven, Managing Partner at 4490 Ventures. “QualSights’ team has created a suite of technologies that address a major gap in consumer behavior understanding. These advances will allow brands to get access to data they’ve never had before and truly understand how everyday people use products post-purchase. It is a brilliant, globally scalable and defensible innovation.”
QualSights Founder and CEO Nihal Advani said working with 4490 has been an exciting and important step in the QualSights story and he looks forward to continued success in the partnership as the company continues to grow.
“This Series A will enable us to introduce our technology to more brands and further propel QualSights as the leading insights technology platform,” Advani said. “The investment will help us accelerate hiring to expand our sales and marketing teams while continuing to further invest in R&D.”
Joining Nihal Advani and Dan Malven on the QualSights Board of Directors are industry veterans Mitch Barns (former CEO of Nielsen), Gian Fulgoni (former CEO of IRI and Comscore), Rishad Tobaccowala (former Chief Growth Officer of Publicis Groupe), Sanjay Khosla (former President of Kraft Foods) and Mohanbir Sawhney (Associate Dean at Kellogg School of Management).
Headquartered in Chicago, QualSights has received a series of accolades this year, including its ranking as the fastest growing company in Illinois, the fastest growing software company in the Midwest and the ninth fastest growing software company in the US, by Inc. 5000. QualSights was also recently recognized as the #1 Qualitative Research Supplier worldwide by GreenBook, a highly esteemed industry insights organization that recognizes standout companies in its GRIT Report.
QualSights is an insights technology platform that helps brands grow by generating deeper and more authentic insights from consumers anywhere in the world in a remarkably fast and cost-effective manner. QualSights’ patented technology blends the depth and authenticity of qualitative research with the speed and agility of quantitative research. In addition to enabling the capture of offline behavioral data from consumers using a combination of in-context video and passive IoT sensors, QualSights offers a powerful suite of AI tools as well as an easy-to-use presentation builder that helps brands analyze data faster than ever before and quickly present compelling stories. QualSights is used by numerous Fortune 500 clients in CPG, pharmaceutical, technology and other industries to help with product innovation, renovation, and optimization. Visit QualSights online at www.QualSights.com and on LinkedIn and Twitter.