Private equity firm Beringer Capital has spent an undisclosed sum to acquire a majority stake in Toronto, Canada-based Dig Insights.
Dig also has offices in Vancouver, Chicago and London, and was established in 2010 by friends and colleagues, Paul Gaudette, Ian Ash, Dominic Atkinson and Michael Edwards. Its Upsiide AI-assisted innovation insights platform helps marketing and insight teams test the market potential of concepts and designs, and last year it added a new feature called Idea Split comparing ideas against specific business metrics; and an incidence rate (IR) tool called Audience Marketplace. Dig now employs around 200 people.
Dig CEO Paul Gaudette (pictured) comments: 'We founded Dig because we knew the market research industry could do better and over the last decade, our team, partners, and clients have helped us on our mission to build the world's smartest insights company - but this is just the beginning. As we look forward, our new partnership with Beringer will push us to continue to be leaders, leveraging their value creation methodologies to introduce new and innovative ideas that will take Dig Insights to new heights'.
Beringer VP David Saunders says Dug has 'disrupted the traditional market research space with its advanced technology, sophisticated analytical capabilities, and deep roster of high-quality talent... positioning itself as a core mechanism in the innovation processes of major players across a variety of industries'.
Web site: www.diginsights.com .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.