Research as a Service provider Atheneum raises £110 million

dan@tech.eu

On-demand market research and intelligence service Atheneum has raised £110 million in a funding round led by Guidepost Growth Equity. Experiencing a surge of demand in 2020, the new funding is expected to quadruple the London office headcount to 200 employees, as well as push forward global expansion plans, beginning with the US.

Founded in 2010, Atheneum uses a combination of machine learning and various data insights to deliver qualitative and quantitative research reports on demand. Armed with highly detailed market information, businesses can make data-driven decisions about any number of topics. While the platform can service a wide range of industries, over the past 11 years, the company has found particular strength in the life sciences and technology verticals.

The company counts over 500 enterprise customers and over the course of 2020, grew by 45%. The first half of 2021 looks no different, with this year right on track to double yet again.

“Companies have long turned to data and insights to break ranks from the competition and capture growth opportunities,” commented co-founder and COO Ammad Ahmad. “As an expert networks platform, we are making it easier, faster, and more accessible for all businesses to tap into rich resources of intelligence to support agile companies around the world to reach their growth goals faster. Our work begins where Google searches end.”

Guidepost Growth Equity led the £110 million funding round with existing investors including Crosslantic Capital Management, Vogel Communications Group, and Michael Brehm continuing their support.

“Atheneum is redefining how business intelligence is being shared across the globe by connecting enterprise organizations with the highest quality information at record speed. We are thrilled to partner with Atheneum, as the company continues to lead and drive innovation in the substantial, yet fragmented ResTech market,” concluded Guidepost Growth Equity’s Roshen Menon.

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