Atheneum said it would use the funding to fuel further expansion as well as product development and talent growth
New York and Berlin-based research technology startup Atheneum has announced its latest funding round.
The company offers a machine learning software and cloud-based insights platform called Athena One which provides access to in-depth market information in real time. The platform helps companies understand industry trends in order to inform decision making, delivering both qualitative and quantitative research including expert consultations and surveys. Operating across industries, Atheneum professes a particular focus on the life sciences and technology markets.
The company’s latest $150mn round was led by Guidepost Growth Equity, alongside existing investors Crosslantic Capital Management, Michael Brehm, and Vogel Communications Group. The move brings total funding since its 2010 foundation to over $170mn.
“We are excited to have found the perfect partners for the next phase of growth and to further disrupt the fast growing, $22 billion data and intelligence market,” said Mathias Wengeler, Atheneum co-founder and CEO.
“Guidepost shares our vision to continue to build a fully digital cockpit for primary research, a one stop shop to gather raw data from surveys, virtual focus groups to in-depth interviews – all delivered by our evolving suite of products.”
Atheneum said it would use the funding to fuel further expansion in the US, as well as product development and talent growth. The company said it had grown by 45% in 2020, achieving over 500 customers globally.
“Guidepost has gotten to know Mathias and his team over a number of years through our long-term investment experience and thesis-development in the ResTech space. Atheneum is redefining how business intelligence is being shared across the globe by connecting enterprise organisations with the highest quality information at record speed,” said Roshen Menon, general partner of Guidepost Growth Equity. “We are thrilled to partner with Atheneum, as the company continues to lead and drive innovation in the substantial, yet fragmented ResTech market.”