H.I.G. Growth Partners Leads $50 Million in Series D Funding for Suzy
BOSTON – July 29, 2021 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce its growth investment in Suzy, Inc. (“Suzy” or the “Company”), a leading, rapidly growing market research software platform.
Founded in 2018 and based in New York, NY, Suzy’s end-to-end cloud-based, SaaS platform combines sophisticated quantitative and qualitative research technology with a scaled propriety first party consumer panel, facilitating agile research in real-time at a substantially lower cost, faster speed, and higher quality. In only 3 years, Suzy’s ARR has rapidly grown to over $25 million, fueled by a portfolio of 250+ global enterprise customers including Microsoft, Citibank, Unilever, and Kraft Heinz.
The $50 million growth financing is a Series D equity round led by H.I.G., with additional participation from existing investors, including Foundry Group, Rho Ventures, Bertelsmann Digital Media Investments and Triangle Peak Partners. This investment will enable Suzy to further accelerate its product roadmap, scale its sales and marketing efforts, grow its proprietary consumer panel, and extend into new market verticals, as well as internationally.
“We have always believed that rapid, high-quality insight and consumer centricity are at the heart of a successful strategy for any modern enterprise,” said Matt Britton, Founder and CEO of Suzy. “We are thrilled to have H.I.G. as an investor and advisor in helping to guide this next phase of our growth.”
“Suzy’s disruptive market leading SaaS agile research and consumer insights platform has tremendous momentum. We are excited to partner with Suzy as they continue to invest in building innovative solutions that disrupt and transform the industry,” said Eric Tencer, Managing Director at H.I.G. Growth Partners, who will also join Suzy’s Board of Directors.
In addition, an H.I.G. Senior Advisor, Randall Beard, who previously served as the Global President and CEO of Nielsen’s BASES Business, as well as Group President at Cardlytics, will be leading the newly formed Suzy Customer Advisory Board.
Founded in 2018, Suzy is a real-time market research platform that aims to advance human understanding between consumers and enterprises everywhere, at the speed of culture. Suzy’s audience-powered tools enable research from start to finish, helping enterprises make smarter decisions with ease. Many of the biggest brands in the world use Suzy to deliver breakthrough products and experiences backed by data-driven decisions. Suzy has been recognized on Forbes’ list of America’s Best Startup Employers in 2021, Inc. Magazine’s list of Best Workplaces of 2021, and as a GRIT Top 50 Most Innovative Supplier in Market Research. Suzy has raised $100 million in venture capital funding from investors that include Bertelsmann Digital Media Investments, Foundry Group, H.I.G. Growth Partners, Tribeca Venture Partners, Triangle Peak Partners, and Kevin Durant’s 35 Ventures. Learn more at www.suzy.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $45 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.