$50 million Funding Round for Research Platform Conveo

In the US, consumer understanding software firm Conveo has secured a $50 million Series A funding round. Funds will help expand its US business and drive its evolution 'from a research tool into infrastructure the entire enterprise runs on.'

Conveo was founded in 2024 by Dieter De Mesmaeker and Hendrik Van Hove, after graduating from the Y Combinator start-up program. The company is headquartered in New York with engineering in Belgium, and offices in London and San Francisco. Its platform uses AI-moderated qualitative interviews with around 1,000 consumers a month; multimodal analysis (speech, tone, facial expression, and on-screen context); and a consumer-context layer supporting natural language queries, to provide 'always-on consumer understanding' for marketing, product, innovation and strategy leaders. Today Conveo boasts more than 400 enterprise clients, including more than 50 Fortune 500 brands.

The firm's newest product, StoryLines, keeps research running continuously on a brand's strategic topics, for a constantly updated picture of consumers. Incoming data joins a searchable repository, accessed via dashboards, AI agents and integrations with existing business software.

The funding, which added to just under $6m raised in previous rounds, comes from DST Global Partners, Balderton Capital, Visionaries, 6 Degrees Capital and Y Combinator. CEO De Mesmaeker comments: 'Brands need AI that is deeply knowledgeable about their market and grounded in real-world data. We have built the infrastructure to gather, structure and synthesize consumer data at unprecedented scale, using best-in-class research methodologies, vetted participants and purpose-built data architecture.'

Web site: www.conveo.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.