Maze Raises $40M To Help Facilitate Software Product Research
06/09/22, 4:00 PM
Money raised
$40 million
Industry
sales and marketing
information technology
software
commerce and shopping
Product research generally involves determining whether an idea for a new product might be successful and how to best develop and sell that product. It’s a straightforward process, in theory, but the basic definition belies the barriers that can crop up. Research is often costly — software-as-a-service companies spend an estimated 23% of their revenue on R&D, for example — and there’s no guarantee that it’ll lead to a successful outcome. Forty-two percent of companies in a recent CB Insights poll cited “no market need” as the reason that one of their products failed to gain traction.
Company Info
Additional Info
While declining to reveal revenue numbers, he disclosed that over 60,000 brands now use Maze, including Hertz, Sony, Fidelity Investments, BNY Mellon, and Nubank.“During the pandemic, the need for unmoderated and remote research grew because teams were no longer able to run moderated, face-to-face research easily. Maze is Widawski’s second venture after Pin.gg, a video game messaging service focused on privacy. Maze is uniquely positioned to empower companies to run more product research, as well as democratize this product research across the wider product team.”Laying runway for growth, Maze today closed a $40 million Series B round led by Felicis with participation from Emergence, Amplify, Partech, Seedcamp, Atlassian Ventures, Zoom, and HubSpot Ventures.