Conveo raises $50M for AI consumer

Consumer research technology company Conveo has raised $50 million in a Series A funding round. The investment will fuel its expansion in the United States and the development of its platform into a broader consumer intelligence infrastructure for enterprise clients.

Leading the round were DST Global Partners, Balderton Capital, Visionaries, 6 Degrees Capital, and Y Combinator. This financing brings Conveo's total funding to $55.8 million. The company, founded by Dieter De Mesmaeker and Hendrik Van Hove, currently serves over 400 enterprises, including more than 50 Fortune 500 companies such as Google, Unilever, AB InBev, and Canva.

The AI-powered research model

Conveo's technology aims to overcome limitations in traditional market research methods. Standard surveys can lack depth, while focus groups and interviews are often too costly and slow to run at a large scale. Also, research is typically siloed within individual projects, leaving insights fragmented and making it difficult for companies to track evolving consumer behavior.

The company's core offering is an AI-powered research interviewer that conducts in-depth video conversations with consumers. This system allows businesses to perform qualitative research across multiple markets simultaneously. It supports various methodologies, including in-home product usage studies, as well as investigations into consumer needs, behavior, pricing sensitivity, and brand perception.

The platform also accommodates other research techniques like MaxDiff analysis, price sensitivity measurement, and diary studies. All insights gathered from these conversations feed into a centralized consumer intelligence layer. Teams can query this knowledge base using natural language and access findings through dashboards, AI agents, and integrations with existing business software.

Evolving from projects to continuous intelligence

Conveo is now building on its initial model with a new product called StoryLines. This tool is designed to run research continuously around topics of strategic importance to a client company. Instead of treating each study as an isolated project, StoryLines adds new findings to an ongoing, evolving knowledge base. This repository is then accessible across product development, marketing, and corporate strategy teams. The company reports that StoryLines has already secured multi-million-dollar enterprise contracts.

"Brands need AI that is deeply knowledgeable about their market and grounded in real-world data," said Dieter De Mesmaeker, CEO and co-founder of Conveo. "We have built the infrastructure to gather, structure and synthesize consumer data at unprecedented scale, using best-in-class research methodologies, vetted participants and purpose-built data architecture."

Funding for US growth and platform development

The newly acquired $50 million will primarily support Conveo's push into the US market. The capital will also fund the continued development of its consumer intelligence platform. The company's long-term goal is to extend its technology's role from powering individual research projects to informing wider enterprise decision-making processes.