Consumer insights platform Ideally raises $5.5 million for US and Australian growth

Consumer insights platform Ideally has landed $5.5 million in a funding round led by Icehouse Ventures and OIF Ventures.

Ideally, founded by James Donald, Brendan Cervin and Joshua Nu’u-Steele — and launched in August 2023 in New Zealand — offers real-time customer insights to marketers and agencies.

It was founded at TRA Labs – the venture studio where successful brand tracking startup Tracksuit was founded in 2021. Earlier this year Tracksuit raised $20.5 million in Series A.

Ideally utilises AI to enhance the turnaround time on consumer feedback and says it can help timelines go from months to days.

“We’ve been very impressed with Ideally’s growth since our initial investment last year,” Robbie Paul, CEO of Icehouse Ventures, said.

“Of the 150+ software companies we’ve funded, the average time to $1 million in revenue is four years and $5 million takes close to six years. Ideally passed the $1 million mark in half the average time and is on track to hit $5 million just as rapidly.”

The platform has attracted over 115 customers across industries, including the likes of Asahi, Telstra, M&C Saatchi and Ogilvy.

According to the company, the fresh cash injection will be used for further product development and accelerate entry into international markets.

It recently pushed into Australia and is currently laying the groundwork to enter the US market. It also follows an initial $2.15 million funding round back in 2023.

“While we’ve had a very successful first year, we’re only just getting started on our goal of providing marketers and creatives around the world with the resources they need to create work that truly makes a difference,” said James Donald, co-founder and CEO of Ideally.

“Australia and the US represent significant opportunities for us, and we are confident in our ability to continue driving meaningful insights for our customers.”

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