Conveo Raises $50M Series A to Bring AI-Powered Consumer Research to Fortune 500 Companies

Conveo, an AI-powered consumer research startup founded by DataCamp co-founder Dieter De Mesmaeker, has raised $50 million in Series A funding as it looks to transform how companies gather and analyse consumer insights.

The round brings Conveo's total funding to $55.8 million and will support the company's expansion in the United States. The startup is building AI-powered tools that conduct video interviews with consumers, analyse responses and generate continuously updated insights for brands.

Conveo Raises $50M Series A

The Series A round was led by Balderton Capital and DST Global Partners, with participation from Visionaries, 6 Degrees Capital and Y Combinator.

The latest financing represents a significant step for Conveo as it expands its presence in the U.S. market.

The company is headquartered in New York, with engineering operations in Antwerp and additional offices in London and San Francisco.

Founded by DataCamp's Dieter De Mesmaeker

Conveo was founded by Dieter De Mesmaeker and Hendrik Van Hove.

De Mesmaeker previously spent nearly a decade at DataCamp, where he served as chief technology officer before leaving the company in 2022. He returned to entrepreneurship in 2024 alongside Van Hove, who previously worked at McKinsey.

The founders joined Y Combinator's Summer 2024 batch with the goal of solving a problem they saw in traditional consumer research - the time required to collect and analyse useful insights.

AI Interviews Consumers in Real Time

Conveo's core product uses AI to conduct video interviews with consumers.

Instead of following a rigid questionnaire, the AI interviewer can adapt its follow-up questions based on what each participant says.

The company says more than half of its valuable insights come from these AI-generated follow-up questions.

This approach allows brands to conduct deeper interviews at scale while reducing some of the time and operational effort associated with traditional research methods.

StoryLines Creates Continuous Consumer Insights

Conveo has also developed StoryLines, a platform designed to move consumer research from one-off projects toward continuous intelligence.

Instead of commissioning a new study every time a company has a question, StoryLines continuously researches a brand's core questions and builds a shared knowledge base that can be accessed across an organisation.

Canva, one of Conveo's customers, has used StoryLines to test advertising concepts across different countries as it expands campaigns.

Serving Fortune 500 Companies

Conveo says its research infrastructure is already being used by more than 50 Fortune 500 companies, including major global brands such as Google and Canva.

The company believes the consumer research market remains underserved by traditional tools that often focus on individual research questions rather than providing a continuously updated understanding of consumers.

The global consumer insights industry is estimated to be worth around $153 billion, creating a significant opportunity for platforms that can make research faster and more scalable.

Competing in a Growing AI Research Market

Conveo is entering a competitive market where startups are using AI to automate consumer research and generate insights.

Listen Labs has raised $100 million and is reportedly approaching a $1.5 billion valuation, while Remesh has raised more than $50 million to build AI-moderated online focus groups.

Other companies, including Voxpopme, are also incorporating AI moderation into video-based consumer research.

Conveo differentiates itself through its combination of AI-led interviews, continuous research and a data infrastructure designed for enterprise customers. The company also offers GDPR-compliant hosting by default for European customers.

Expanding in the United States

The latest $50 million investment will help Conveo expand its U.S. operations and scale its platform among large enterprise customers.

Balderton partner James Wise said the company has built a strong product and highlighted the opportunity to establish a new category around continuous consumer insights.

For Conveo, the challenge now is turning its early adoption among major enterprises into a much larger platform for consumer intelligence.

With $55.8 million in total funding and an expanding customer base that includes Fortune 500 companies, Conveo is betting that continuously updated human data can become a critical resource for businesses making decisions about products, marketing and growth.