Discussions surrounding the effective utilization of online “experts” have been ongoing for a number of years. The focus has been on discovering efficient methods to access their knowledge, whether for industry or company research, frequently for investment decision-making. Key companies operating in this space are GLG, Third Bridge, Guidepoint, and Alphasights. The widespread cancellation of traditional expert access points – such as conferences and industry gatherings – due to the pandemic, coupled with the global shift to remote work, has significantly increased the importance of these types of platforms.

Therefore, it is logical that proSapient, an expert network and primary research platform, has recently secured $10 million in Series A funding, spearheaded by Smedvig Capital. Prominent investor Guy Hands and current investors 24 Haymarket also contributed to this funding round, bringing proSapient’s total funding to $18 million. The company intends to utilize these funds to broaden its global reach.

proSapient functions as a Software-as-a-Service (SaaS) platform designed to streamline the management of expert networks. Primarily targeted towards investors and consultants, it facilitates data collection. The platform connects experts with relevant projects and delivers transcripts of interactions. Information gathering can occur via phone or in-person meetings, customized surveys can be deployed, and focused strategy projects can be undertaken with select expert groups. The platform also offers search capabilities, internal messaging features, and tools for team collaboration. Currently, proSapient reports serving over 100 clients throughout Europe and the United States, with year-over-year revenue growth exceeding 100%.

According to a statement by proSapient co-founder Margo Polishchuk, “This funding round will support our goal of becoming a leading primary research platform for the private equity and consulting industries.”

Rob Toms, managing director at Smedvig Capital, stated: “We are pleased to collaborate with Margo and Jordan as they continue their substantial growth and international expansion. They possess a talented team, a robust market presence, and a well-defined business strategy.”

In addition, proSapient has recently welcomed Mike Wroe, formerly the group CFO of Just Eat plc, as its new chairman.