Survata is a three-year-old, 10-person, San Francisco-based startup that creates consumer surveys for ad agencies, hedge funds, consumer packaged goods companies, and many others that are looking for feedback about their offerings. If Chipotle is thinking of introducing a new salsa concept, for example, Survata — which works with a network of publishers, from blogs to online magazines to video sites — will create a survey that targets the demographic from which Chipotle wants to learn.
It’s easy to appreciate the company’s appeal. It’s a channel for consumers to access content for free. (Publishers ask readers to complete surveys to readers in lieu of paying.) It’s a cheaper, faster alternative to traditional research. To wit, Survata charges a flat rate of $1 dollar per survey response, in contrast with a company like Nielsen, whose starting costs can be around $30,000. Survata’s surveys also represent a new revenue stream for its publishing partners. Say Chipotle – a real customer – wants 500 responses about that new salsa. Survata shares the $500 it’s paid by Chipotle with its publishers.
Despite heavyweight competition from the likes of SurveyMonkey and Qualtrics, among others, investors apparently like the traction it’s gaining. This morning, the company is announcing $6 million in Series A funding led by IDG Ventures, with participation from Bloomberg Beta and numerous angel investors, including Alexis Ohanian and Garry Tan. The company — a Y Combinator alum – has now raised $8.1 million altogether, including from earlier backers SoftTech VC and PivotNorth.
To learn more about Survata and how it helps it clients (including VCs), we talked Friday with CEO Chris Kelly. Our chat, right here, has been edited for length.