Enterprise

Democratizing Market Research with AI

Date
April 2, 2018
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Remesh Is Putting Real-Time Conversational Consumer Insights Directly in the Hands of Marketing and Product Development Teams

When you come across a team that has a laser-like focus and the technical ability to wholly improve on an outdated business service, you pay attention. When we met the team at Remesh, it was immediately evident that they weren’t just building another “AI-powered” business. Remesh is actively disrupting the $45 billion market research industry at a time when large brands are keen to invest in technology to improve insights, automate their market research activities, and drive down costs. Remesh is already working with some of the world’s great brands, global agencies and consulting firms, who are excited about the high quality and real-time insights the company can deliver. We’re incredibly excited to have just led the company’s $10M Series A round of investment.

Co-founders Andrew Konya and Gary Ellis impressed us immediately with their product vision and execution to date. Andrew, who came up with the idea for Remesh while studying for his physics PhD at Kent State University, is an excellent technologist who has long been focused on how to gather and distill the wisdom of a crowd; he was originally inspired by friends in Israel and the Middle East who asked him to help them build a tool to share on-the-ground community sentiments with political leadership. He and Gary are hyper-focused on bringing together a world-class technology and product team to build out their proprietary conversational insights platform, and a success driven SaaS sales team to help empower large brand and consulting clients with Remesh’s transformative technology platform.

Remesh uses machine learning and natural language processing to drastically reduce the time (and cost) it takes to deliver actionable insights for marketers and product development teams. What used to take a month can now be accomplished in a couple of days, and can often be done at as low as a quarter of the cost, meaning the entire product development cycle through go-to-market can be informed by high-quality, responsive market research.

The core of the company’s platform is a synchronous chat interface that allows a moderator to “talk” to ~1,000+ participants at the same time. The moderator can ask a group of respondents (today sourced from sample providers or a client’s own customer base) an open-ended question, and Remesh’s AI platform analyzes the qualitative responses real time, delivering back the most statistically significant qualitative answer to the question. Based on these real-time answers, the moderator can take the line of questioning in any direction. And it’s not just big brands with substantial budgets that are benefiting from Remesh’s tech. Smaller companies and start-ups, that to-date have been priced out of large scale surveys and focus groups, can access Remesh’s on-demand self-serve tool, which we believe will “democratize” market research and grow the overall market.

We are excited about Remesh’s strong traction to date, and their huge potential to revolutionize and grow the market research industry, and we’re fortunate to have the opportunity to welcome Remesh to the GC family!