MFour Mobile Research confirmed to MMW this week that the company has partnered with Kayne NewRoad Ventures Fund for $5 million in new investment that will “rapidly accelerate the mobile technology and consumer research company’s fast-paced expansion.”
We’re told that the funding comes after record 2016 growth that saw MFour add 88 new clients, including more than 20 Fortune 500 companies.
“We’re just getting started,” said Chris St. Hilaire, MFour’s co-founder and chief executive. “Market research needs to realize that you can’t field representative surveys with online panels anymore. Mobile is the future, and researchers need to get on board or find a new profession.”
The $5 million in funding will be used to scale technology and research staff, with more than $2 million dedicated to marketing the industry’s only all-mobile, do-it-yourself (DIY) survey platform. MFourDIY® gives consumer insights professionals the opportunity to design, field and analyze their own surveys. With mobile DIY, users can locate shoppers and send them push notifications at the moment they’re making their buying decisions.
MFour will use the remainder of the investment to expand internationally and scale its staff by adding to its Labs & Engineering, Operations and Sales departments.
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