A Chicago startup that helps some of the biggest companies in the world better understand their users and customers through mobile videos just landed a big round of funding.
Dscout announced it has raised a $70 million Series C round led by Boston-based Guidepost Growth Equity. The startup has now raised more than $80 million to date. It last raised a $7.5 million Series B round in 2018.
The company has built a video research platform for companies to better understand their consumer base. Its platform lets companies capture a customer's real-life experience and reaction to a product in the moment, giving more insights into how products are being used and ways to improve them.
By getting consumer reactions from a person's smartphone or desktop browser, Dscout said brands can get “like-you-were-there” insights into how their products are being used. It's a process that improves upon the traditional way of collecting user feedback like surveys and other surface-level data, Dscout said.
The startup said it works with more than half of the Fortune 50, and its revenue has more than doubled since March 2020. Its customers include brands like 3M, Best Buy, Salesforce, T-Mobile and Northface.
Dscout has grown its head count to more than 130 employees, and it expects to approach 200 by the end of the year.
Led by founder and CEO Michael Winnick, Dscout spun out of consulting firm Gravitytank in 2013.
