Social intelligence company Brandwatch has taken steps to bring social media listening and market research together with the acquisition of Qriously, a London-based SaaS research platform. The financial terms of the deal have not been disclosed.
The acquisition will see Brandwatch add Qriously’s real-time survey functionality to bring its customers targeted insights received directly from consumers alongside its existing social listening tools.
“It’s not often you meet a group of people as fresh and innovative as the Qriously team who have built a deep, technically strong solution to a problem that is on your own roadmap,” said Giles Palmer, co-founder and CEO of Brandwatch. “We’ve never met such a team who saw the world the way we do and want to join up to create something really new, but that’s what happened with Qriously.”
Brandwatch’s purchase of Qriously comes around six months after it merged with fellow social intelligence firm Crimson Hexagon to create a business with around $100m annual recurring revenue. The Qriously acquisition adds first-party quantitative research to this pool of brand and consumer insights.
“The future of market research is 100 per cent combining different data types,” said Christopher Kahler, co-founder and CEO of Qriously. “Prompted survey and unprompted social data surface different types of insights, and looking at them together gives you a 360-degree picture.”