The funding will help Atheneum expand geographically and support product development. Here are the top-line bullets you need to know.
Atheneum, a research-as-a-service provider, has raised $151M in growth equity funding. The round drew participation from Guidepost Growth Equity, Vogel Communication Group, and Crosslantic Capital, among others.
HOW’S THE COMPANY PERFORMING?
- Berlin-based Atheneum is a B2B research services company that provides expert industry insights to investment funds, consulting firms, and corporations. It does this by virtually connecting those organizations with industry experts across the globe.
- The company reported a revenue of $50M in FY’21 and has already turned profitable.
- Atheneum grew nearly 50% in 2020 — and growth jumped to 80% this year.
- The company’s clients include about 500 major players across verticals like life sciences, management consulting, tech, and investment services.
- Atheneum, which comprises a network of 680,000 experts, currently has 11 offices across the globe — in locations such as Berlin, London, and New York — and is supported by a team of over 400 employees.
WHY DOES THE MARKET MATTER?
- The global insights-as-a-service market is projected to grow at a CAGR of 22.08% to reach a value of $7.61B by 2026, according to Verified Market Research.
- The market is expected to benefit from the Covid-driven rise of remote work and virtual interview processes.