Today, I am excited to announce we’ve raised a $31 million Series A at a $306 million valuation.
Six years ago, we founded Morning Consult with just $30,000 and the belief that the outdated $80 billion market research industry was ready for a transformation. Since then, Morning Consult has doubled nearly every year to now a $50 million run-rate, and in the first quarter of 2020 alone, we increased our year-over-year growth rate 123 percent. Today, we count more than half of the Fortune 500 as clients.
For decades, legacy market research firms have failed to evolve, creating a critically unmet need for innovation. It was clear there was a lack of real-time, intelligent data and insights needed to make strategic decisions. Since then, we’ve made it our commitment to revolutionize how data is used by leaders in business, economics and politics.
This investment will expand our international data collection to more than 10 million survey interviews collected annually and accelerate the development of industry leading artificial intelligence and machine learning applications for communications, marketing, insights, and strategy executives. Our growth is a testament to those who have followed us since day one. I want to thank you for your feedback and support, and we look forward to continue delivering on our mission in the months and years to come.