NEW YORK — NewtonX, a business-to-business (B2B) market research and intelligence company, has closed a $32 million Series B funding round. The round is led by Marbruck Investments with support from Level One Fund backed by UBS O’Connor, Gaingels, and Heliad Partners. Existing investors Two Sigma, Third Prime, XFund, Story Ventures and Switch participated as well. This round brings NewtonX’s total amount of funding to $47 million.
NewtonX’s AI-driven B2B market research and intelligence solution eliminates the data trust deficit for companies. With year-over-year growth in excess of 130%, NewtonX serves organizations of all sizes and industries from Fortune 500 to the top consulting firms, financial institutions, leading market research firms and mid-sized companies.
“Together, with our valued customers like Microsoft, Fortune, and Pinterest, NewtonX has ushered in a new standard of truth in B2B market research and made access to authenticated insights accessible to more business users than ever before. Every day, business leaders and professionals across their organizations are making decisions with confidence and attaining expected business outcomes with insights powered by NewtonX,” said Sascha Eder, CEO and co-founder, NewtonX.
Business leaders need to make hundreds of decisions every day, these decisions are often challenges that someone else has already solved. Connecting the business leaders with the question to those who already have the answers would be the ultimate competitive advantage to their decision-making. Yet, most market research providers rely on static expert networks, panels or research associates to manually reach out to experts and as a result are not able to connect these professionals effectively.
NewtonX approached the problem differently with an “open-network” approach. Its AI-technology scans over 1.1 billion professionals across 140 industries and automatically identifies the most qualified professionals to deliver insights. NewtonX can then custom recruit hundreds of thousands of professionals daily to connect them to business leaders who need answers. Insights are delivered in the form of expert consultations, surveys from 10 to 10,000 participants or in-person meetings.
The new funding will be used to expand engineering, further develop its product suite, and build out the sales and marketing teams to increase NewtonX’s brand awareness among business leaders. In an effort to further democratize access NewtonX’s high-quality B2B insights, clients will soon be able to receive answers to their business questions faster than ever before, access syndicated research and all of it at a fraction of the cost of traditional B2B market research.
“In just five years NewtonX has established itself as the leader in B2B research and is used by the world’s leading companies that trust NewtonX to get the data they need to make multi-million dollar decisions,” said Kemper Shaw at Marbruck Ventures. “As investors, we have the need to access insights ourselves and see the value of NewtonX’s technology first hand. Their knowledge graph and custom recruiting automation allows them to connect business leaders to insights they previously could not access or where they had to question the validity of the data, NewtonX solved this problem and will be a critical part of companies’ competitive edge in the years to come.”
