In the US, MFour Mobile Research has received $5m in funding, which it will use to expand its business, products and staff numbers.
Based in Newport Beach, California MFour uses GPS technology to collect information at the 'point of emotion'; and offers the Surveys On The Go app, which provides access to an all-mobile panel. MFourDIY, launched a year ago, allows researchers to program and field mobile surveys to more than one million active consumers.
The investment, from Kayne NewRoad Ventures Fund, will be used to launch new mobile ad measurement products, with more than $2m dedicated to marketing MFour's mobile DIY platform; and to expand internationally and scale staff levels by adding to the Labs & Engineering, Operations and Sales departments. The team is set to increase to more than 100 employees by the end of Q2, 2017, double its size in the second quarter of 2016.
CEO and co-founder Chris St. Hilaire (pictured) comments: 'We're just getting started. Market research needs to realize that you can't field representative surveys with online panel anymore. Mobile is the future, and researchers need to get on board or find a new profession'.
Web site: www.mfour.com .