Manchester-based market intelligence and consumer research company, Kids Insights, has launched its innovative online data portal, which allows brands to access real-time insights into the world of children and young people.
After being supported by Business Growth Hub, the company has created six new jobs and is forecasting turnover of £500,000 for 2018.
Kids Insights, which was founded in March 2017 by entrepreneur Nick Richardson, secured a six-figure investment from an angel investor at Venturefest, the North West’s annual showcase of business innovation and investment opportunities.
Since launching, the service has attracted brands including DC Thomson, Finsbury Foods, Guinness World Records, Penguin Random House and Turner.
These brands now receive quarterly insight reports into young people’s attitudes and sentiments. This helps them to understand the often fickle and rapidly changing views of both children and teenagers in a highly-fractured, peer-to-peer driven marketplace.
At Venturefest, Nick explained how Kids Insights, with offices in Manchester, New York and Lagos, had set out to change the way in which global market research is conducted; allowing clients to make informed decisions and develop marketing strategies built on quality insight, niche market segmentation and real-time ‘granular’ data.
As a result, the business secured a six figure investment from Venturefest Judge Adam Kara, which will help to both scale the business in the UK and accelerate plans to expand the business internationally next year.
Adam said: "As an angel investor I look for start-ups with innovative products, great teams and strong leadership. Kids Insights ticks all the boxes. Nick and the team have come up with an incredible product which has the potential to scale fast and completely disrupt the market insights sector.
“Like most start-ups, Kids Insights just needs some funding to kick start their journey and personally, I'm delighted to be on board with such an exciting business and to be supporting the ever-growing tech start-up scene in Manchester."
Nick and his management team have also enrolled on a series of Business Growth Hub innovation masterclasses. He said: “It’s been a phenomenal 12 months for us. The Hub has been with us every step of the way and, quite simply, without them we would not be in such great shape to take the business forward so rapidly, and with such confidence.”
“Since working with the Hub we have grown to a highly talented team of six, raised six figures of investment, launched our highly successful Kids Insights service and have the foundations in place for a phenomenal 2018.”
Paul Halliday from Business Growth Hub said: “Nick and his team are also now benefitting from our innovation programme, which links dynamic scale-ups with Greater Manchester’s universities, and our fully-funded masterclasses, which help innovative and ambitious firms to unlock the commercial potential of new ideas.”