In a significant stride towards transforming consumer research, Knit, the pioneering AI platform, has successfully closed a $9 million funding round. This financial boost, led by Revolution’s Rise of the Rest Seed Fund, marks a pivotal moment for the company as it announces new partnerships with industry giants including T-Mobile, NASCAR, the WNBA, Mars Wrigley, Overtime, and JBL.
Knit is dedicated to streamlining the consumer research process, allowing insights professionals to conduct high-quality research in a fraction of the time previously required. The platform uniquely integrates both quantitative and qualitative data, delivering comprehensive insights efficiently. Over the past year, Knit has onboarded over 30 enterprise brands and quintupled its annual recurring revenue. With the new funding, Knit has introduced its latest offering: Report-Ready Insights, designed to empower researchers to generate agency-quality reports swiftly and affordably, thanks to its Researcher-Driven AI technology.
“Our mission at Knit has always centered around easing the burden on researchers,” stated Aneesh Dhawan, Co-Founder and CEO. “With Report-Ready Insights, we enable our clients to transition from pressing business questions to fully crafted reports in mere days, maintaining a delicate balance of speed, cost, and quality. This is a transformative shift in the research landscape.”
The platform’s innovative approach leverages human expertise combined with AI capabilities, optimizing the research workflow to be faster, more customizable, and sharply focused on delivering what matters most to clients. “Unlike generic, off-the-shelf AI analysis tools, Knit’s solution is built on the foundation of human insight, ensuring that our outputs are both meaningful and actionable,” remarked Raahish Kalaria, Co-Founder and CTO.
Investors are enthusiastic about Knit’s trajectory. “We are thrilled to continue supporting Knit as they redefine the consumer insights landscape,” expressed David Hall, Managing Partner of Revolution’s Rise of the Rest Seed Fund. “Their innovative AI-assisted research approach resonates strongly in the market, and we’re eager to see their continued growth.”
The sentiment was echoed by Ross Kimbel, Managing Director at Silicon Road Ventures, who praised the team’s swift partnerships with major brands. “Knit’s ability to deliver rapid insights is a clear testament to their deep understanding of the market and their customers’ needs.”
Knit’s growth is a reflection of the increasing demand for agile and accurate consumer insights. The company recently showcased its expertise at the Corporate Research Conference in New York alongside Mars Wrigley and is set to present with T-Mobile at The Market Research Event in October.
Editorial Opinion
The recent funding and product launch by Knit indicate a promising future not only for the company but also for the broader field of consumer research. In an era where data is abundant yet actionable insights remain scarce, Knit’s unique integration of AI with human expertise could very well set a new standard for the industry. Their commitment to democratizing rigorous research practices could empower countless organizations to make better, more informed decisions.
Moreover, as brands increasingly recognize the value of swift and precise insights, Knit’s innovative platform positions it at the forefront of a critical shift in how research is conducted. This evolution will likely lead to more agile business strategies and improved consumer engagement, showcasing the profound impact of technology in enhancing research capabilities.
Knit’s trajectory reflects a forward-thinking approach that not only meets the current demands of the market but also anticipates future needs. As they continue to expand their offerings and client base, Knit is poised to reshape the landscape of consumer insights significantly.
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