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Bounce Insights, an Irish startup that provides AI-powered market research solutions, has secured €4.2 million in a Series A funding round led by ACT Venture Capital. The funding will be used for strategic expansion into the US market, opening a New York office to accommodate its 25-person team. Bounce Insights is aiming to more than triple its global headcount by the end of 2026.
Along with ACT Venture Capital, other investors in the round include Irrus Investments, Enterprise Ireland, the Digital Irish Venture Fund, and Ian Kiernan, founder of MRops.
Launched in 2022 by Rónán Dowling-Cullen, Charlie Butler, Brandon Dooley, Josh Stafford, and Brian O’Mahony, Bounce Insights will seek to disrupt the old ways of doing market research by offering proprietary data along with expert insights powered by generative AI. New funding will help continue to innovate and scale its platform in response to a growing need for faster, cheaper, market research solutions.
Rónán Dowling-Cullen, co-founder and co-CEO of Bounce Insights, was visibly excited about the future when saying, “This funding is fuel that will allow us to continue to ship new product fast, expand our offering for clients, and grow the team to execute on a massive opportunity. We are raring to go; it’s going to be an exciting few years.”
Bounce Insights’ platform has proven a game-changer in the market research arena. This way, the platform automates 90% of the research process and facilitates actionable insights for brands without taking too much of either cost or time as with typical traditional market research agencies. Indeed, Bounce Insights says that it provides results seven times faster and at a 40% lower cost than the ordinary approaches. In this connection, the company has been working with top brands like Coca-Cola, Diageo, Tesco, Mondelez, Unilever, and Marks & Spencer.
Co-Founder and Co-CEO Charlie Butler will be based in New York, overseeing the company’s early operations in the region, as part of the company’s US expansion. Butler noted how Bounce Insights is using cutting-edge technology to enhance market research: “We leverage generative AI and proprietary datasets to not only replace the number of humans in the market research process, but build a superior offering for brands.”. It is an industry dominated by repeatable tasks, and we are going to change that.
The biggest differentiator of Bounce Insights is the ability to combine qualitative and quantitative data in a seamless manner. This unique combination of data allows brands to make informed decisions based on comprehensive consumer insights with unmatched speed and accuracy.
To fuel its growth trajectory, Bounce Insights is hiring in key areas, including software engineering, sales, and research across its offices in Dublin, London, and North America. This will help the company scale quickly to meet growing demand for its AI-driven market research solutions.
Mairéad Roche from ACT Venture Capital, one of the investors in the funding round, said: “Marketing decisions are investment decisions, the best of which are made from a mix of quantitative and qualitative data. Bounce’s AI-infused platform gives global household-name brands access to consumer insights with unrivaled agility and accuracy.”
Since its founding, Bounce Insights has raised a total of €6.1 million in funding, and expansion into the US market heralds the future revolutionization of the way brands undertake market research. The firm is positioning itself as a leader in the ever-evolving AI-powered space for research, reducing the expense and complexity of valuable insights for consumers.
As Bounce Insights continues growing and refining its product offerings, the company’s vision of transforming market research through generative AI and automation becomes a reality. The US expansion marks a major milestone in the company’s journey, and with a rapidly growing customer base and a strong investment backing, Bounce Insights is set to continue its impressive growth trajectory.
Source: eu-startups
