Forestreet has developed an automated research platform that can map every company and product in a market on-demand down to the functional level. Forestreet’s AI engine processes millions of data points to provide real-time, data-driven insights.
Founded five years ago by Alex Miller, formerly COO of Octopus Ventures and David Doyle, formerly a partner at PWC; Forestreet has developed its technology with a number of well-known clients and has provided services to three of the “Big Four” consulting firms and a number of leading investment firms.
The new funding will enable Forestreet to revolutionize the research sector, bringing affordable, world-class data through a subscription model to those who have been locked out of traditional research services by cost and exclusivity.
This expands the audience – from the existing base of procurement, M&A, private equity and investment professionals – to a broader range of end customers across multiple sectors, allowing users to generate tailored, comprehensive, granular and up-to-date data on demand.
David Doyle, co-founder of Forestreet commented: “We have made it our mission to replace analysts with analytics. We want to eliminate the bias that keeps challengers and innovators hidden from customers; to offer an alternative to the dominant model of opinion-based research, which has not fundamentally changed in 40 years. This funding will help us ensure more users can find any relevant company in a market in hours rather than weeks and have the data to compare them objectively.”
Guinness Ventures Fund Manager Ashley Abrahams said: “We welcome Forestreet to the Guinness Ventures stable and look forward to supporting the brand’s development as they advance their groundbreaking use of AI in mapping and tracking a fast-paced technology market. Creating easier access to world-class research will help transform the research sector and enable huge increases in productivity in the years to come. We are excited to endorse another certified B Corp and wholeheartedly support their ethical approach to eliminating bias in key industries.”
Ian Merricks, Managing Partner of White Horse Capital said: “White Horse Capital was pleased to have backed Forestreet in this pivotal round of funding. The highly experienced entrepreneurs building Forestreet have strong backgrounds in the venture capital and Big 4 industries and we were delighted that they used our VC investment readiness process to raise their Series A. Founders met Guinness Ventures during our scaleup training program and impressed again at the final pitch event in November. We are very proud to have worked with them to quickly achieve their goals and secure this important institutional funding round.”
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https://techround.co.uk/news/forestreet-announces-first-series-a-success/?utm_source=rss&utm_medium=rss&utm_campaign=forestreet-announces-first-series-a-success Research startup Forestreet announces the success of Series A