Investment enables the growing data collection firm to continue building premium solutions that address critical industry needs, while aggressively expanding its sales and client services teams.
NEW ORLEANS, Nov. 15, 2022 /PRNewswire/ — Rep Data, a full-service data collection firm for primary research, today announced that it has closed a $6.25 million Series A round led by Recurring Capital Partners. This funding round will accelerate the company’s core vision of improving respondent data quality, the most persistent pain point in the research technology space. In addition, Rep Data will further its vision of making the market research process efficient, accurate and reliable, and elevating expert, premium service across all stages of the data collection process.
Patrick Stokes, Founder and CEO of Rep Data, said, “Rep Data has already made significant progress on our two founding principles of excellent service and unparalleled data quality. This funding allows us to continue investing in premium talent, and truly put our money where our mouth is as we continue to lead data collection practices in the market research space. We will be making further investments to boost data quality, building a protective layer between survey panels and live survey opportunities, plus addressing other pivotal needs in the industry for reliable, consistent service and expert collaboration.”
Founded in 2020 by market research industry veterans, Rep Data has experienced significant organic growth, with year-over-year revenue growth of 140%, growing its team to 43 people and serving 350 clients globally since inception. The company’s leadership team is comprised of senior level executives with deep industry experience gained at established market research companies such as Qualtrics, FocusVision, Lucid, Dynata and many others. This funding is indicative of how pertinent Rep Data’s approach is to the ongoing and future success of primary research projects across all industries.
Bradley McBride, Managing Director at Austin, TX-based Recurring Capital Partners, said, “In the current market environment, real-time consumer insights are a mission-critical input to business decisions. Rep Data’s rapid growth underscores our conviction that they are uniquely positioned to deliver those reliable insights to organizations of all types. We’re thrilled to partner with a first-class management team as the company increasingly leverages technology alongside decades of industry experience to create a true market leader in the market research space.”
Rep Data provides full-service data collection solutions for primary researchers, helping expedite data collection for primary quantitative research studies, with a hyper-focus on data quality and consistent execution. The company’s mission is to be a reliable, repeatable data collection partner for market research agencies, management consultancies, Fortune 500 corporations, advertising agencies, brand strategy consultancies, universities, communications agencies, public relations firms and more. repdata.com
Recurring Capital Partners, based in Austin, Texas, provides growth capital to SaaS and other technology-enabled companies with recurring revenue models. RCP provides both debt and equity financing to meet the unique needs of a growing technology business. The RCP team, advisors and investors couple significant operating and investing experience to focus on results founders and management teams care about: accelerating growth, controlling business and personal risks, and maximizing value for all stakeholders. For more information, please visit www.recurring.capital.
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SOURCE Rep Data