Canvs AI – a leading insights platform built to unlock consumer and employee feedback – recently announced that it has successfully raised $15 million in funding led by Fulcrum Equity Partners. Strategic investor Engage (an innovative corporate venture initiative from category-leading corporations like Coca-Cola, Delta Air Lines, Cox Enterprises, Inspire Brands, and The Home Depot) also participated in the round.
The company’s goal is to enable empathy by putting the power of understanding consumers’ feelings in the hands of every business. This funding round will accelerate product development, customer success, and further its go-to-market expansion. Fortune 500 companies such as CVS, Disney, Church & Dwight, ABInbev, and Netflix use the Canvs AI Platform daily to analyze unstructured feedback from both consumers and employees. These companies have reported that their research productivity increases 20x while deepening their understanding of key stakeholders in their business.
Leading companies have long understood the value of empathy to drive loyalty and boost customer lifetime value. But most consumer feedback is trapped in noisy, open-ended responses, fragmented and siloed across dozens of different sources. Canvs AI also unlocks critical insights in unstructured feedback from virtually every source. It uses a combination of patented, natural-language algorithms and a newly released generative AI co-pilot, AI Story Assist, which presents users with an automated narrative about their data.
Canvs AI pioneered the ability to investigate data with plain-language questions and produce easily understood and quantifiable metrics for emotional reactions. In the last year alone, Canvs has analyzed more than 850 million pieces of open-ended text from surveys, social media, and online comments on behalf of its brands.
KEY QUOTES:
“Brands are already sitting on a mountain of feedback collected from their survey tools, customer support chats, interview transcripts, reviews, and social media. But it’s incredibly inefficient—if not impossible—to generate meaningful insights from it. Canvs allows insights, customer experience, and HR leaders to unlock significant business value for their organizations by turbo-charging time-to-insights and empowering empathetic decision-making.”
“I look forward to accelerating our mission of enabling empathy and consumer understanding to businesses worldwide alongside Fulcrum Equity Partners. They have shown trust in our vision for the future of consumer insights and for the amazing team that has built Canvs AI to where it is today.”
— Jared Feldman, Canvs AI Founder and CEO
“Unstructured data has long been a challenge for businesses due to the intricacies of natural language, the sheer volume and diversity of data, and the absence of standardized formats. Yet, its importance for understanding consumers has never been more vital nor valuable. That’s why we’re so excited about both the opportunity space and the opportunity for Canvs AI to address this widespread issue.”
— Philip Lewis, a partner at Fulcrum Equity Partners
“While the last few years have been challenging for many growing software companies, Canvs has maintained a relentless focus on their mission and the resourcefulness to deliver. I couldn’t think of a better equity partner than Fulcrum, who have a track record of supporting their operating teams with capital and operational best practices.”
— Kyle York, managing partner of advisory & investment firm York IE and Chairman of the Canvs AI Board of Directors
