Market Research Startup GutCheck Raises $4 Million
Based in Colorado, GutCheck is a market research startup that has raised $4 million in Series B funding. GroTech Ventures and Crawley Ventures led this round of funding with participation from existing investors Highway 12 Ventures and Village Ventures. GutCheck is an on-demand market research community where companies can get answers to “burning questions.”
GutCheck’s software platform recruits customers online and asks them what a company wants to know. It is similar to what focus groups do. GutCheck’s software can target and sign up customers. Many companies depend on their own intuition, which may not be the most reliable approach. Companies that have used GutCheck include General Mills, The Home Depot, KFC, PepsiCo, LivingSocial and P&G.
GutCheck can target consumers in an average of around 2.3 minutes. Feedback can be provided within 72 hours. Customers can pick demographic and geographic requirements. GutCheck is expected to triple their sales in 2013.