Potloc, a Montréal-based provider of consumer intelligence, has raised more than $13 million in a Series A financing. The round, which brings total funding to $17 million, was led by Brightspark Ventures and Investissement Québec and joined by Fonds Ecofuel, Cap Horn and Desjardins Capital. Founded in 2014 by CEO Rodolphe Barrerre, COO Louis Delaoustre and CTO Jérémy Lagrue, Potloc will use the funds raised for new hires, entering new markets, including the U.S., U.K. and elsewhere in Europe, and developing artificial-intelligence capabilities.
Consumer Research Firm Potloc Secures Series A Financing of Over $13 Million
Funds Being Deployed to Bring Innovation to Consumer Research Industry Globally
November 7, 2019 – Montreal / The world’s most accurate consumer data provider, Potloc announces the closing of its series A funding. This $13M round was led by Brightspark Ventures and Investissement Quebec, with participation from Fonds Ecofuel, Cap Horn, and Desjardins Capital, bringing Potloc’s total funding to over $17M since 2017.
“Potloc’s technology provides enterprises with more accurate, hyper-targeted, and qualitative consumer insights,” said Rodolphe Barrere, CEO at Potloc. “We are thrilled to be working with investors who share our vision for developing a new standard in consumer research. Together, we plan to triple our growth with an aggressive strategy.”
Potloc plans to deploy the funds to invest in top talent and enter new markets including the US, UK and elsewhere in Europe, both while developing its artificial intelligence capabilities.
“For the past 5 years, we have been impressed by the founders’ dedication, passion, consistent delivery, and their ultra-focused vision. Rodolphe and COO Louis Delaoustre, are building a model that is disrupting the way businesses connect with consumers” said Jacques Perreault, Senior Partner at Brightspark Ventures.
Investors have renewed their support in Potloc, COO Louis Delaoustre believes this is because of the company’s innovative methodology. “Potloc’s key differentiator allowing our clients to access insights, data, and purchasing habits other survey methods like web panels and phone surveys have failed to provide. Instead of a general overview of an audience, our clients can understand why consumer groups behave certain ways, such as women in their 30s in Toronto who own electric bikes and live in Yorkville.”
Potloc is changing the way retailers, CPG companies and real estate developers make customer-centric business decisions, notably by:
● Developing non-incentivized surveys people want to answer at a lower cost than traditional methods like web panels or phone interviews
● Sourcing respondents through social networks, targeting specific trade areas, cities, countries, or interests
● Informing enterprises with competitive intelligence to increase market share
● Providing key insights to increase revenue, improve customer experience, and create devoted fans
“Potloc is a Québec company operating in a promising niche, which also has real potential to succeed internationally. By supporting this project, Investissement Québec is embracing its role as a complementary investor in this ecosystem, and actively supporting the company’s talented leadership team in their growth efforts, which will result in 30 new jobs over the next three years, among other spinoffs,” said Guy LeBlanc, President and Chief Executive Officer of Investissement Québec.
Potloc unlocks consumer insights for hundreds of businesses, helping them solve ongoing challenges like improving customer experience, building better products or services, and converting competitor’s clients into their own. We conduct innovative, geo-targeted surveys through social networks, offering an alternative to traditional research methods that haven’t evolved. The company thrives by giving consumers a voice while empowering the enterprises that serve them with valuable insights that translate into revenue. Founded in 2014 in Montreal, Potloc has nearly 60 employees and works with leading brands like L’Oréal, Cadillac Fairview, Invesco, and Cushman-Wakefield. Potloc has offices in Canada and Europe and is GDPR compliant. Learn more at www.potloc.com
Potloc Media Contacts:
Steven La Barbera – Media Relations
Katelyn Good – Marketing Director