Conveo, a Belgian AI startup, is making strides in the research industry by developing the first AI-powered research coworker, enabling deep customer insights at scale through AI-powered video interviews. The funds will help fuel Conveo’s aggressive push into the US and European markets.
CEO and co-founder Dieter De Mesmaeker told TFN,
“Straight out of Y Combinator’s 2024 summer batch, the startup raises $5 million in seed funding less than a year since its launch.”
The capital will be used mainly to speed up product development and deepen AI-powered research integration into organizations, making real-time customer insights more accessible than ever before.
A First-Hand Solution to a Major Problem:
Conveo was established in 2024 by Hendrik Van Hove and Dieter De Mesmaeker. The CEO, Dieter, previously started Datacamp.com, a large ed-tech platform, and led it for more than 13 years. He saw the adverse effects of poor customer research, including wrong investments and lost opportunities, throughout this period.
Hendrik Van Hove, Chief Product Officer of Conveo, started out at McKinsey & Company, where he was working on AI strategy studies for a few of the world’s biggest companies and carrying out significant market research for Due Diligence reports. Having done numerous surveys and hundreds of interviews, he knew firsthand how traditional research was slow, laborious, and expensive, which made it hard to capture insights at scale. Spurred by the possibility of AI to transform this area, Hendrik joined forces with Dieter to build the “Qualtrics of qualitative research.”
As Datacamp CEO, Dieter had witnessed companies make crucial business decisions without the proper research and end up spending a lot in the process. Hendrik, having worked with McKinsey, understood how ineffective the old-fashioned research approaches were in getting meaningful insights. Between them, they realized the need to use AI to bridge that gap and make qualitative research better.
Hendrik Van Hove remembered, “In October 2023, when I was still at McKinsey, I applied to Y Combinator with only an idea – no name, no logo, no demo, and no customers. A YC Group partner replied and told me to keep working on it and reapply. That was enough for me to quit McKinsey and look for a co-founder.” Through a mutual friend, I connected with Dieter, and we officially founded the company in April and applied again to YC, where we were accepted.”
Dieter De Mesmaeker explained the inspiration behind their venture: “Consumer behavior is evolving faster than ever, driven by AI, the Creator Economy, 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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