MONTREAL, Nov. 14, 2019 /CNW Telbec/ - Potloc, the most detailed consumer insight provider on the market, today announces the closing of its series A funding. This $13M round was led by Brightspark Ventures and Investissement Quebec, with participation from Ecofuel Fund, Cap Horn, and Desjardins Capital, bringing Potloc's total funding to over $17M since 2017.
"Potloc's technology provides enterprises with more accurate, hyper-targeted, and qualitative consumer insights," said Rodolphe Barrere, CEO at Potloc. "We are thrilled to be working with investors who share our vision for developing a new standard in consumer research. Together, we plan to triple our growth with an aggressive strategy."
The company's technology is available in 15 countries, and data from over 6M questions has already been used to help clients make better decisions. Potloc plans to deploy these new funds to invest in top talent and enter new markets including the US, UK and elsewhere in Europe, while developing its artificial intelligence capabilities.
"For the past 5 years, we have been impressed by the founders' dedication, passion, consistent delivery, and their ultra-focused vision. Rodolphe and COO Louis Delaoustre, are building a model that is disrupting the way businesses connect with consumers," said Jacques Perreault, Senior Partner at Brightspark Ventures.
Investors have renewed their support in Potloc, COO Louis Delaoustre believes this is because of the company's innovative methodology. "Potloc's key differentiator is allowing our clients to access insights, data and purchasing habits other survey methods like web panels and phone surveys have failed to provide. Instead of a general overview of an audience, our clients can understand why consumer groups like Torontonian women in their 30s who own electric bikes and live in Yorkville, behave in a certain way."
Potloc is changing the way retailers, CPG companies and real estate developers make customer-centric business decisions, notably by:
- Developing non-incentivized surveys at a lower cost than traditional methods like web panels or phone interviews
- Sourcing respondents through social networks, targeting specific trade areas, cities, countries, or interests
- Providing businesses with competitive intelligence they can use to increase market share
- Delivering key insights to increase revenue, improve customer experience and create devoted fans
"Potloc is a Quebec company operating in a promising niche, which also has real potential to succeed internationally. By supporting this project, Investissement Quebec is embracing its role as a complementary investor in this ecosystem and actively supporting the company's talented leadership team in their growth efforts, which will result in 30 new jobs over the next three years, among other spinoffs," said Guy LeBlanc, President and Chief Executive Officer of Investissement Quebec.
Potloc unlocks consumer insights for hundreds of businesses, helping them solve ongoing challenges like improving customer experience, building better products or services and converting competitors' clients into their own. We conduct innovative geo-targeted surveys, through social networks, offering an alternative to traditional research methods that haven't evolved. The company thrives by giving consumers a voice while empowering the businesses that serve them with valuable insights which translate into revenue. Founded in 2014 in Montreal, Potloc has nearly 60 employees and works with leading brands like L'Oréal, Cadillac Fairview, Invesco, and Cushman-Wakefield. Potloc has offices in Canada and Europe and is GDPR compliant. Learn more at www.potloc.com.