Great Question Secures $2.5M Seed Funding - Customer Research Simplified

The Value of Direct Customer Insights for Software Development

For software companies, gathering customer research is critically important, yet significant challenges often arise, particularly in identifying the appropriate individuals for surveys. Great Question is focused on democratizing access to building and engaging with proprietary customer panels, regardless of a company’s size.

Seed Funding and Early Traction

The startup, a graduate of Y Combinator’s winter 2021 program, recently announced the completion of a $2.5 million seed funding round. Great Question was launched in February 2021 and currently serves clients such as Linktree, Honeybook, O’Reilly Media, and MainStreet.

The platform’s capabilities encompass interviewing customers regarding product concepts and overall strategy, validating product-market fit, conducting usability testing on UX designs, and evaluating the effectiveness of marketing landing pages.

Investor Details

This seed funding round included participation from investors like Funders Club, January Capital, Nomo VC, and Twenty-Two Ventures. Notable angel investors also contributed, including Warren Hogarth, co-founder of Empower Finance; Jon Williams, co-founder of Culture Amp and Pyn; Jason Smale, senior vice president of engineering at Zendesk; and Robbie Allan, former group product manager at Intercom.

From Elto to Great Question: A Personal Journey

Prior to establishing Great Question, PJ Murray and Ned Dwyer previously sold their web developer marketplace, Elto, to GoDaddy in 2015. Dwyer shared in an email that formal research was limited during their time at Elto. Customer conversations occurred, but lacked a structured, consistent approach.

Their experience at GoDaddy, however, fostered a more disciplined methodology to product development, driven by a larger user base, expanded team, and ambitious goals. They also benefited from collaboration with GoDaddy’s dedicated UX research team.

Addressing a Market Need

Recognizing a gap in the market, Murray and Dwyer aimed to enhance the accessibility of customer research for product development teams. Dwyer noted that engaging a large UX research firm can incur costs starting at $40,000 annually. In contrast, Great Question offers a freemium model with paid plans at $49 and $199 per month.

Comprehensive Research Tools

Great Question consolidates essential customer research components – including survey templates, prototype testing, scheduling functionality, and transcription services – into a single platform, facilitating seamless information sharing. A key feature is its robust customer recruitment and filtering capabilities.

Dwyer explained that many UX research companies rely on pre-built panels, potentially yielding feedback from non-representative demographics, such as students or stay-at-home parents motivated by incentives.

Building Targeted Customer Panels

Great Question enables the creation of customized landing pages for panel recruitment, allowing users to specify research preferences and participation frequency. The platform automates ongoing studies, distributing questions to customer segments on a recurring basis, such as bi-weekly intervals.

Integration with incentive programs like Tremendous allows for participant compensation via cash or gift cards. However, Dwyer emphasized that many participants are primarily motivated by the opportunity to influence product development or gain early access to new features.

Real-World Application and Future Outlook

A landing page created for MainStreet with Great Question’s user research platform. Image Credits: Great Question

Once customer panels are established, Great Question provides intelligent templates for surveys and interviews, automating their distribution and saving clients valuable time.

For instance, MainStreet utilized Great Question to gather feedback on a revised onboarding process. Facing a tight deadline, the company, which assists small businesses in identifying and claiming tax credits, quickly scheduled eight customer interviews, even during the holiday season, to refine designs before launch.

Investment Rationale

Alix Mittal, co-founder and CEO of Funders Club, stated, “Even the best product and business teams know everyday iteration, large pivots and new launches can be hit or miss. We backed Great Question because they provide the missing tool to effortlessly incorporate customers into product and business decisions and to never miss the mark.”

This investment underscores the growing recognition of the importance of continuous customer feedback in driving successful product development and business strategy.