Potloc, a Montreal based consumer research firm, has announced series A funding in the amount of $13M. This round was led by Brightspark Ventures and Investissement Quebec, with participation from Ecofuel Fund, Desjardins Capital and Cap Horn of France.
“Potloc is a Quebec company operating in a promising niche, which also has real potential to succeed internationally. By supporting this project, Investissement Quebec is embracing its role as a complementary investor in this ecosystem, and actively supporting the company’s talented leadership team in their growth efforts, which will result in 30 new jobs over the next three years, among other spinoffs,” said Guy LeBlanc, President and Chief Executive Officer of Investissement Quebec.
Potloc unlocks consumer insights for businesses in retail, commercial real estate and CPG helping them solve ongoing challenges like improving customer experience, building better products or services, and converting competitor’s clients into their own. This is done through geo-targeted surveys over social networks, offering a level of customer insight that is not available elsewhere. Potloc has nearly 60 employees and works with leading brands like L’Oréal, Cadillac Fairview, Invesco, and Cushman-Wakefield
“Potloc’s technology provides enterprises with more accurate, hyper-targeted, and qualitative consumer insights,” said Rodolphe Barrere, CEO at Potloc. “We are thrilled to be working with investors who share our vision for developing a new standard in consumer research. Together, we plan to triple our growth with an aggressive strategy.”
Potloc has offices in Canada and France, with sales in 15 countries. They plan to deploy the funds to invest in top talent and enter new markets including the US, UK and elsewhere in Europe. About 30 new jobs could be created. The company claims it is changing the way retailers, CPG companies and real estate developers make customer-centric business decisions, notably by:
- Developing non-incentivized surveys at a lower cost than traditional methods like web panels or phone interviews
- Sourcing respondents through social networks, targeting specific trade areas, cities, countries, or interests
- Providing businesses with competitive intelligence
- Delivering key insights to increase revenue and improve customer experience.