The company, founded by John Kearon in 1999, has an impressive list of 80 mostly blue-chip clients including 10 of the world’s top 50 companies.
BrainJuicer has built a reputation for innovative research products including its patented ‘Mind reading technology’, which uses genetic algorithms to discover what consumers ‘really think’ about a subject.
Kearon said: “BrainJuicer offers a truly revolutionary research service, combining robust quantitative research, with rich probing qualitative understanding.
“BrainJuicer is the first company to provide this offering and take full advantage of the web’s capabilities to deliver research more insightfully, faster and more cost effectively than traditional offline research.”
The company’s innovative approach has won awards such as the title of ‘Service Business of the Year’ in 2004 from GB’s sister publication Startups.co.uk
It has expanded considerably since then and now has offices in the US and the Netherlands as well as two in the UK.
The company is looking to expand into a growing market – the global research industry is estimated to be worth $23 billion.
Within this sector, the online market research market is believed to be the fastest growing and has increased by 375% since BrainJuicer began trading.
The market is believed to be worth $1.9bn in 2005 and is forecast to grow by 20% in 2006.
“We believe this will have a major impact on the market research industry makes us well positioned for the next stage of growth,” Kearon added.
The company has appointed Teather and Greenwood to act as its adviser and broker on the flotation.
© Crimson Business Ltd. 2006
