NEWS31 March 2022

My Telescope raises €2.5m to kick-start US market presence

Europe Financials News

SWEDEN – Market intelligence and search start-up My Telescope has raised €2.5m (£2.1m) in seed funding, led by Vendep Capital and Trind VC, to help marketers and brands measure and predict long-term trends in demand. 

Pot of money growing plant

The Stockholm-based company will use the funding to accelerate its growth and entry into the US market.

My Telescope uses share-of-search analytics to measure and predict the long-term impact of market trends, brand strength, and campaign effectiveness. 

In addition, My Telescope bolsters the use of search data with its artifical intelligence tool that scans, visualises and analyses sentiment data. Data taken from the media, social listening, forums and product reviews can be used to gain deeper insights into the underlying intentions behind the search activity. Through this deep data analysis, My Telescope maintains that it is able to provide recommendations for future marketing investments.

My Telescope founder and chief executive Rodrigo Pozo Graviz commented: “The problem is that a lot of money is invested into building a brand, but previously there hasn’t been any way of proving in real-time that the investment is actually driving you anywhere.

“It basically means that the whole industry pumps money into a black hole and waits months to find out the results. However, the correlation between what people search and sales numbers and market share has been scientifically proven. We provide a predictive view of where your marketing efforts are taking you.”