Knit, an AI-driven platform designed to streamline consumer research, has raised $9 million in its latest funding round.
Led by Revolution’s Rise of the Rest Seed Fund, the round saw participation from new investors, including Osage Venture Partners, GFT Ventures, Visible Ventures, and Massive Ventures, along with existing investors Silicon Road Ventures, Felton Group, and Alumni Ventures. The company has partnered with major brands such as T-Mobile, NASCAR, the WNBA, Mars Wrigley, Overtime, and JBL.
Knit’s platform enables insights professionals and researchers to conduct comprehensive consumer research in a fraction of the required time. The platform combines quantitative and qualitative data within the same survey, allowing for agency-quality insights at DIY costs. Over the past year, Knit has experienced rapid growth, onboarding more than 30 enterprise brands and increasing its annual recurring revenue fivefold.
The new funding has fueled the launch of Knit’s latest offering, Report-Ready Insights, which leverages Researcher-Driven AI to streamline the most time-consuming aspects of research. “At Knit, our goal has always been to make researchers’ jobs easier,” Aneesh Dhawan, Co-Founder and CEO of Knit, said in a news release. “Report-Ready Insights allows our customers to go from business questions to stakeholder-ready reports in days, without compromising speed, cost, or quality.”
Knit’s AI platform optimizes research by working alongside human researchers, making the process faster and more customizable. “Unlike off-the-shelf AI tools that deliver generic outputs, Knit starts with the researcher,” Raahish Kalaria, Co-Founder and CTO of Knit, said in a news release. “Our AI enhances the expertise of researchers rather than replacing it.”
David Hall, Managing Partner of Revolution’s Rise of the Rest Seed Fund, expressed enthusiasm about Knit’s innovative approach. “Knit’s rapid adoption by leading brands speaks to the value they provide in the consumer insights,” Hall said.
Knit continues to make waves in the industry. It recently presented with Mars Wrigley at the Corporate Research Conference in New York and is planning to present with T-Mobile at The Market Research Event in October 2024.
Founded in 2021, Knit is an AI-native platform that automates the consumer research process for enterprises. The company aims to democratize access to high-quality, agency-level research, enabling brands to make smarter, data-driven decisions.