dscout Raises $70 Million Growth Equity Investment From Guidepost
Lightning Partners advises leading provider of experience research software
CHICAGO, March 17, 2022 -- dscout, the fast-growing remote experience research technology platform, announced today it has secured $70 million in Series C funding led by Guidepost Growth Equity. The new capital will fuel the company's rapid market expansion, continued technology and product development, and hiring initiatives. Chris Cavanagh, general partner of Guidepost, will join the company's board, as well as Brett Schnittlich, former president and board member of Guidepost portfolio company, Lucid, which was acquired in December 2021 by Cint Group AB for $1.1 billion.
With 73 percent of consumers pointing to a product's experience as the main purchasing driver, organizations around the world are looking for ways to scale quality experience research to meet the growing demands of the market. This is why hundreds of the world's most innovative companies – in industries ranging from technology to financial services to healthcare and CPG – turn to dscout's experience research technology platform to scale their research efforts and design superior products and experiences.
Dscout provides organizations with the technology tools and services to recruit for and conduct moderated and unmoderated research and analysis with flexibility and depth, producing human insights critical to the product innovation process. The infusion of capital will accelerate dscout's investment in further democratizing the platform, enabling team members across every role and organization to access and gather actionable research insights.
"Guidepost is a true partner to dscout, pulling from their deep experience scaling innovative platforms, particularly in the broader research technology space," said Michael Winnick, dscout founder and CEO. "With both Chris and Brett joining the board, we gain not just financial support, but industry and operational expertise that will influence how our product and business can continue to harness technology to bring deep insight into organizations with unprecedented speed and scale."
"Modern businesses know that deep human understanding is the foundation of building incredible products and services. The old way of doing things – basic surveys, collecting surface-level data without focusing on why the data exists – is no longer enough to stay competitive," said Chris Cavanagh, Guidepost general partner. "Dscout has fundamentally transformed the way in which organizations conduct research and gather deep, critical insights and its growth and performance to date leave no doubt that it will continue to grow its lead in the experience research and innovation sector."
dscout was advised on the transaction by Lightning Partners and Goodwin Procter LLP. Guidepost Growth Equity was advised by Kirkland & Ellis LLP.
dscout is a leader in experience research, enabling the world's most innovative companies to unlock human insight at scale. dscout's flexible remote research technology platform allows organizations to handpick research participants, field a multitude of moderated and unmoderated methodologies, accelerate analysis, and create impactful, media-rich research deliverables. Learn more at dscout.com.
Guidepost Growth Equity is a leading growth equity firm that partners with technology companies offering innovative solutions in large, dynamic markets including application software, data and information services, infrastructure software and services, and tech-enabled services. Current and prior investments include Dyn (acquired by Oracle), Jive Communications (acquired by LogMeIn), Lucid (acquired by Cint Group AB), Mineral, OutSystems, ProtoLabs (IPO on NYSE), and WP Engine. Guidepost Growth Equity provides the flexible capital, operational support, and strategic guidance necessary to support the continued success of growth-stage businesses and has over $1.6 billion of capital under management. For more information, please visit our website at guidepostgrowth.com.
About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.