US-based consumer survey service provider Survata secured $6m yesterday in a series A round led by IDG Ventures, a corporate venturing unit owned by media and data company International Data Group.
The round also featured Bloomberg Beta, the early-stage investment subsidiary of media group Bloomberg, as well as venture capital firms SoftTech VC and PivotNorth Capital, and angel investors including Alexis Ohanian, Garry Tan and Tom Patterson.
Survata conducts targeted market research surveys on behalf of corporate customers, working in partnership with a range of online media sites. It charges clients $1 for each response received and splits the cash with its online publisher partners.
The company graduated from accelerator Y Combinator in 2012, raising $1.5m in seed capital from PivotNorth and SoftTech the following year. It will spend the series A funding on enhancing its product offering, and plans to introduce several new subscription-based products while also growing its Publisher Network.
Phil Sanderson, managing director of IDG Ventures, will join Survata’s board in conjunction with the funding.