GMI Secures $13.2 Million In Funding
Voyager Capital and FTVentures Invest in Market Research Solutions Provider’s Series B Round of Financing
Monday, April 25, 2005
Seattle, WA – GMI (Global Market Insite, Inc.), the only company to offer a complete integrated solution for global Internet-based market research, announced today that it has closed $13.2 million in venture capital funding in a Series B financing round co-led by Voyager Capital and FTVentures. In addition, GMI announced that Tony Audino, managing director of Voyager Capital, and Eric Byunn, principal at FTVentures, will join the company’s board.
“This investment is another significant milestone for GMI,” said Rob Monster, chief executive officer of GMI. “These resources will help us accelerate growth of our global online panel, as well as enable expanded development of our Net-MR software suite. We will continue to make proactive investments in our infrastructure, in line with our expectations for continued rapid growth and in support of our goal to be a highly desirable employer capable of attracting and retaining industry-leading talent.”
“Rob and his team have done an amazing job of developing a proprietary software platform for online market research, building global panels in over 200 countries, and achieving strong profitability – all with less than $3 million,” said Tony Audino. “It’s refreshing to see a company that has been this capital efficient. We’re very excited about the opportunity to help them take GMI to the next level.”
Rated as the 18th fastest growing company in Washington State by the Puget Sound Business Journal in 2004, GMI has more than doubled its business each year. The company’s strong performance, as well as an industry (market research), which continues to see an increase in yearly spend among global companies, makes the investment decision an attractive deal for all parties.
“The strong demand for efficient Internet-based market research solutions is coming from a broad range of industries worldwide,” said Eric Byunn. “As companies face challenging customer acquisition and retention goals, the need for tools that cost-effectively expedite direct access to information about customers and prospects is essential. GMI has the team and the technology to continue to successfully meet the technology-enabled market research requirements of the global enterprise.”
GMI’s technology is distinguished from its competitors for its ability to manage all aspects of the global market research process – from its web-accessed software (Net-MR) to global managed panels – which enables marketers to conduct multi-country, multi-language research in real-time and capture meaningful and accurate intelligence about their customers and global consumer trends.
GMI’s clients include 15 of the world’s 25 largest market research firms such as Gartner and Burke and Fortune 500 companies, such as, Colgate-Palmolive, Principal Financial Group, John Deere and Ernest & Julio Gallo Winery.
GMI is the only company that provides integrated Internet applications for global market research, including Net-MR software, 24/7 service bureau capabilities and double opt-in managed panels to provide a single vendor solution for global sample. One of the world’s largest panels, GMI contains 200 country panels, more countries than any other supplier. Rounding out the solutions, GMI also offers the GMIPoll, the only survey that polls global opinions in real time, on-line, and with statistically accurate results. Founded in 1999, GMI has operations on five continents.
About Voyager Capital
Voyager Capital is a leading Pacific Northwest information technology venture capital firm, providing entrepreneurs with the resources, experience, and connections to build successful companies. Voyager invests primarily in early stage business software and services, mobility, wireless and digital media companies, where the firm’s domain expertise, team-building track record and go-to-market resources help build market leaders. Voyager Capital has $265M under management with offices in Seattle, WA and on Sand Hill Road in Menlo Park, CA. For more information, visit Voyager’s web site at www.voyagercapital.com or telephone (206) 438-1800
FTVentures is a private equity firm focused on software, business services and transaction processing companies. The firm provides venture capital as well as growth capital for organic growth, build-ups, recapitalizations, spin-outs and buy-outs. FTVentures’ unmatched global financial services partner network-including 37 of the world’s leading financial institutions-provides the firm with a unique vantage point into the business-driven IT and operating challenges of the global enterprise. Founded in 1998, FTVentures currently has $623 million under management. The firm has offices in San Francisco and New York. For more information, please visit www.ftventures.com.