Belgian AI Startup Conveo Raises $5.3M to Expand AI-Powered Research Coworker Across US and Europe

Conveo, a Belgian AI startup, is making strides within the analysis business by growing the primary AI-powered analysis coworker, enabling deep buyer insights at scale by means of AI-powered video interviews. The funds will assist gas Conveo’s aggressive push into the US and European markets.

CEO and co-founder Dieter De Mesmaeker advised TFN,

“Straight out of Y Combinator’s 2024 summer season batch, the startup raises $5 million in seed funding lower than a 12 months since its launch.”

The capital shall be used primarily to hurry up product growth and deepen AI-powered analysis integration into organizations, making real-time buyer insights extra accessible than ever earlier than.

A First-Hand Answer to a Main Downside: 

Conveo was established in 2024 by Hendrik Van Hove and Dieter De Mesmaeker. The CEO, Dieter, beforehand began Datacamp.com, a big ed-tech platform, and led it for greater than 13 years. He noticed the hostile results of poor buyer analysis, together with flawed investments and misplaced alternatives, all through this era.

Hendrik Van Hove, Chief Product Officer of Conveo, began out at McKinsey & Firm, the place he was engaged on AI technique research for just a few of the world’s largest corporations and finishing up important market analysis for Due Diligence studies. Having performed quite a few surveys and a whole lot of interviews, he knew firsthand how conventional analysis was gradual, laborious, and costly, which made it exhausting to seize insights at scale. Spurred by the potential for AI to rework this space, Hendrik joined forces with Dieter to construct the “Qualtrics of qualitative analysis.”

As Datacamp CEO, Dieter had witnessed corporations make essential enterprise selections with out the correct analysis and find yourself spending so much within the course of. Hendrik, having labored with McKinsey, understood how ineffective the old school analysis approaches had been in getting significant insights. Between them, they realized the necessity to use AI to bridge that hole and make qualitative analysis higher.

Hendrik Van Hove remembered, “In October 2023, after I was nonetheless at McKinsey, I utilized to Y Combinator with solely an thought – no identify, no emblem, no demo, and no clients. A YC Group companion replied and advised me to maintain engaged on it and reapply. That was sufficient for me to give up McKinsey and search for a co-founder.” By means of a mutual pal, I related with Dieter, and we formally based the corporate in April and utilized once more to YC, the place we had been accepted.”

Dieter De Mesmaeker defined the inspiration behind their enterprise: “Shopper conduct is evolving sooner than ever, pushed by AI, the Creator Financial system, and the rise of Gen Z and Alpha. Concurrently, changing regulations and cultural shifts are compelling brands to reexamine how they interact with customers. However, most brands continue to use methods of research that are not keeping pace. Old-fashioned qualitative research is time-consuming and expensive, frequently causing companies to either forego conducting research or make decisions that are based on limited understanding – failing to capitalize on opportunities and making expensive errors.”

Conveo’s solution is poised to revolutionize the $120 billion global market research industry by solving these problems.

An AI-Powered Research Solution: 

With AI technology evolving at a breakneck pace, Conveo is developing an AI research “coworker” that can be integrated into an organization. From research and marketing teams to the CEO, anyone in the organization can query Conveo about their customers. With flawless memory, Conveo can instantly tap into prior research, incorporate third-party data, or trigger new research in real time. This methodology drastically reduces the hurdles of gaining insights, improves decision-making, and ultimately results in the development of superior products and services.

By streamlining the entire research process – everything from project setup to interviewing and real-time analysis – Conveo provides real-time insights 100 times faster than traditional approaches, frequently spotting links that human researchers may miss.

Already used by industry leaders like Unilever, Orange, Sanofi, and Google, Conveo’s AI research partner can carry out hundreds of AI-moderated video interviews overnight, in any language, and at a fraction of the price of traditional approaches.

What Makes Conveo Unique?

When it comes to competition, Conveo faces rivals like traditional research platforms such as Qualtrics, SurveyMonkey, and Inca, as well as research agencies like Ipsos and Kantar. However, Conveo distinguishes itself through its combination of deep technical expertise and research knowledge, areas where many competitors fall short.

Dieter explained, “Conveo’s team possesses both deep technical and research expertise, which most other companies lack in one area or the other. Our research efforts are led by Niels Schilleweart, PhD, Head of Research & Methodologies, Founder of the global insights agency Human8, and Professor of Marketing at Vlerick Business School. This expertise is essential to ensure our AI research coworker excels in setting up research, conducting interviews, and analyzing data, all while adhering to cutting-edge research methodologies.”

“By combining video with natural, personalized conversations, we generate insights that are richer than what other platforms can provide. People feel engaged and comfortable with our interviewer, leading to unfiltered sharing. That’s the real value—93% of respondents rate our interviewer 4/5 or higher. For researchers, every data point is tied to a specific quote in the transcript, making it much easier to empathize with customers,” Dieter added.

He continued, “Our customers tell us that setting up an effective study that keeps participants engaged and doesn’t bias responses is challenging and time-consuming. With our AI research coworker, you simply tell it your business goals or questions, and it helps you draft the perfect research guide. This eliminates days of back-and-forth and ensures you conduct insightful interviews with relevant analysis. A typical study with Conveo involves anywhere from 30 to 300 participants, with interviews typically lasting between 15 to 60 minutes. Factoring in scheduling, preparation, interviews, and note-taking, the time saved can range from three days to 10 weeks.”

“Analysis is another area where time savings are substantial. When conducting interviews with many more people, analysis is often a tedious and time-consuming task. With Conveo, our AI analyzes the data in minutes, delivering insights as soon as the study is completed. This can save days to weeks of analysis time and often uncovers relationships or insights that human researchers might miss.”

The Future of AI-Driven Consumer Research

As AI continues to redefine industries, Conveo is at the forefront of revolutionizing qualitative research. By enabling companies to understand their customers faster, more deeply, and at scale, Conveo is setting a new benchmark for market research. In a world where consumer preferences can change rapidly, having instant access to reliable insights is no longer a luxury; it’s essential for businesses aiming to stay competitive.

“We don’t see Conveo as a replacement for face-to-face interviews, but rather as a new research method that combines the best of both qualitative and quantitative approaches. We can now execute projects that were previously impossible. Combining quantitative data with insights from customers in their own words is incredibly powerful in aligning teams,” said Pieter Van Paemel, Senior Insights Manager at Edgard & Cooper.

“Initially, we were skeptical about how our customers would respond to AI interviews. But after thorough testing, the feedback has been overwhelmingly positive,” said Wendy Francois, a Market Researcher at Orange.

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