Research disruptor Heatseeker AI raises $2.4m for growth
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The news: Sydney-based behavioural research platform Heatseeker AI has secured a $US1.5 million ($2.36 million) pre-seed funding round led by San Francisco-based Capital F, with participation from Euphemia, Even Capital and East End Ventures.
The numbers: The funding will help Heatseeker AI target the $US110 billion ($173 billion) market research industry. The company has already secured more than a dozen enterprise clients across the US, Europe and Australia, including leading banks and health insurers.
The context: Founded in Sydney by co-founders Kate O'Keeffe, chief executive officer, Fiona Triaca, chief operating officer, and Rutger Coolen, chief product officer, Heatseeker AI has adopted a dual-continent model similar to Atlassian and Canva, with product development in Australia and go-to-market operations in the United States. The founding team brings experience from companies including Cisco, Atlassian and UserTesting.
What they said: "Today companies are shooting in the dark, guessing at what their customers want," said Heatseeker AI chief executive officer Kate O'Keeffe. "We're ending the era where companies make multi-million dollar decisions based on what focus group participants claim they want."
"Heatseeker's solution was immediately compelling, but it was the exceptional founding team with the right experience to execute rapidly that drove our conviction," said Margaret Coblentz, co-founder and general partner at Capital F.
The source: Heatseeker media release.
