202301 Dec

Madeinvote Secures 2.5 Million Euros for its Automated Market Research Software

Summary

Unlike the historical method of interviewing a paid panel, social networks allow brands to better target participants and avoid under-representation, assures Guillaume David, founder and CEO of Madeinvote. Madeinvote will push the survey on social networks and optimize advertising to question as many people as possible corresponding precisely to this target about their practice and the equipment they need. He specifies that respondents are not paid to ensure a certain objectivity.Since its creation, the company has conducted 500 studies in more than fifty different countries for approximately 200 clients. Companies like LOr\xe9al, Heineken or Lidl but also banks like Cr\xe9dit Agricole, consulting firms like BCG and classical research institutes: Ipsos and Ifop in particular, which subcontract the start-ups services when they need very targeted respondents.In June 2023, a strategic shift, Madeinvote bought the company Poll&Roll and its software to automate the creation and analysis of market studies, including data cleaning and quality controls (identification of false respondents). We identified that our clients needed to re-appropriate the results through a PowerPoint to present them to their CEO, for example., explains Guillaume David.They are also preparing an autoscripting tool which will allow the draft work of the questionnaire, carried out with the client, often on a word document, to be directly transformed into a completed survey and ready to be published.Structuring the marketing of the softwareBut the fundraising will mainly be used to structure the marketing of this platform, which for the moment was not reallyin the words of the CEO, by creating a dedicated marketing and sales team.In addition to selling consulting and respondents, we will sell the software to our clients, said the founder who sees it a profitability trajectory more easily and quickly accessible.

Source: Gamingdeputy

Funding

$653.55K
Amount
Dec 01 2023
Date
-
Investor
Madeinvote
Company

Classifications

Companies