proSapient has closed a USD10m Series A investment round led by Smedvig Capital, with Guy Hands and existing investors 24 Haymarket also participating in the round. This brings the total raised by proSapient to date to USD18 million.
The new funding will accelerate proSapient’s international expansion as well as support the roll out of their workflow SaaS platform which helps solve a major pain point for users of expert networks, using multiple networks simultaneously.
Founded in 2017, proSapient is a primary research platform helping investors and consultants gather the data they need to make those big decisions. Through the platform customers can interact with millions of executives around the globe and gather their knowledge through conference calls and surveys. proSapient uses cutting edge technology to match the right experts to the right projects and provide highly accurate transcripts, all of which is delivered within a customer friendly platform.
Since launch, proSapient have begun working with many of the largest users of expert networks in the market. They have continued to grow rapidly in 2020 despite the slowdown in market activity earlier in the year and are currently servicing over 100 clients across Europe and the USA, with revenue up over 100 per cent year on year.
Additionally, proSapient have recently appointed Mike Wroe, former group CFO of Just Eat plc, as Chairman.
Adelpha Group advised proSapient on the transaction.
Margo Polishchuk, Co-Founder of proSapient, says: “Securing backing from an institutional investor like Smedvig Capital and the founder of one of Europe’s prominent private equity firms is a resounding validation of the unique offering proSapient provides its customers. This funding round will facilitate our strategic objective of being a leading primary research platform for the private equity and consulting sectors.”
Rob Toms, Managing Director at Smedvig Capital, says: “We’re excited to be working with Margo and Jordan to continue their impressive growth and international expansion. They have a great team, strong market position and clear vision of where the business is going. This combined with their continuous innovation and customer centric approach makes it easy to understand why proSapient is such a popular solution for its customers. We are looking forward to working closely together to build the next generation of expert network.”
Jordan Shlosberg, Co-Founder of proSapient, says: “We created proSapient to address the need of investors and consultants to access high-quality experts and primary research. The platform has developed into a single point of primary research that is easy to use and allows our clients to quickly access the best research, whilst managing diligence projects and collaborating with colleagues. We are delighted to welcome Smedvig and Guy Hands as investors and to appoint Mike Wroe as Chairman.”
