A tech start-up which develops virtual reality (VR) and augmented reality (AR) products for the market research industry has set its sights on international expansion after raising fresh investment.
Gorilla in the room, founded in 2016, provides researchers with tools to acquire more robust data to predict why and how consumers buy products.
It currently works with a number of high-profile clients including Ipsos, one of the largest market research organisations in the world, and agencies within multinational advertising group WPP.
The seed investment was secured from Mercia Fund Managers and will allow the company to scale its product pipeline and support its international growth.
“Market research has been guiding marketing decisions for decades and our suite of VR and AR products empower researchers with better data for marketers to increase sales,” said co-founder and CEO Jonathan Barrowman.
“Our range of products will transform market research more than behavioural economics and we believe the use of VR and AR will be standard practice across the industry within the next three years.”
Gorilla in the room’s range of VR and AR products provide researchers with an alternative to traditional market research methods such as focus groups and online surveys.
Its technology allows researchers to immerse people in real life situations, from retail studies in a virtual supermarket to new product development with augmented products.
Chris Kilroy, investment associate at Mercia, added: “Immersive technologies are redefining the way in which we interact with the world around us, and their use and application are relevant across a range of sectors, from gaming and education through to training and market research.
“Our investment into Gorilla in the room is the result of Mercia’s targeted investment strategy to provide capital and support for emerging companies in this sector.
“We are highly confident that Jonathan, Alastair and Tom have the unique blend of commercial acumen, domain expertise and development excellence that is necessary to successfully lead this company and revolutionise the way that organisations across the globe carry out market research.”