Knit, based in Texas, has raised $3.55 million to improve market insights related to Generation Z and Millennial consumers, according to a press release.
“Gen Z is shaping the future of consumer trends, it’s critical for brands today to be empowered with the right information to understand how to successfully engage this next generation,” said Sid Mookerji, managing partner and founder at Silicon Road Ventures, in a press release. “Knit allows companies to gather and analyze customer feedback of this demographic with little turnaround time, making it an essential, actionable tool for marketers. Knit qualifies as a transformational technology in CommerceTech which is the focus for Silicon Road.”
According to a recent press release, the round is overseen by Silicon Road Ventures in collaboration with Bread and Butter Ventures, Alumni Ventures, Bootstrappers.mn, Operate Studio and TiE Global Angels.
The investment will grant the Austin-based startup the ability to further develop its slate of technology and automatic video analysis abilities to better serve its non-Gen Z panel in EMEA, LATAM and beyond.
“We frequently see major brands with an appetite to better understand Gen Z and the next generation of consumers. The data we’re able to provide empowers these organizations to minimize risks and drive intelligent marketing and product initiatives,” said Raahish Kalaria, CTO at Knit, in a press release. “We think of ourselves as an on-demand Think Tank of Gen Z consumer demographic data for brands. Our goal is to help marketers make more confident decisions to attract their fanbase of the future.”
Knit’s platform connects with a network of more than 1 million Gen Z and 4 million Millennial consumers to gather “on-demand video feedback and quick-turn quantitative data.”
The company reported a sudden growth acceleration by seven times in January 2021. Its catalog of over 30 enterprise customers include NASCAR, WNBA, Harman International (JBL Speakers) and Moët Hennessey.
“Through Knit’s platform, brands can upload custom research questions and get 30-90 second 'selfie' video responses from hundreds of Gen Z consumers in as quickly as a few hours,” a press release explains. “With their video analysis AI, brands can then analyze hours of video feedback in minutes – getting to their consumer insights faster.”