Morning Consult has reached unicorn status.
The company announced a $60 million series B funding round at a $1.01 billion valuation this week. The round was led by Advance Venture Partners, with additional investors including Susquehanna Growth Equity and Lupa Systems.
Morning Consult’s proprietary SaaS technology uses AI and machine learning combined with high-frequency data sets and access to more than 100 million people globally to optimize decision making.
With the funding from this series B round, the company plans to expand its offering, developing additional AI applications, and launching commercial operations in EMEA and Asia-Pacific.
CEO and cofounder Michael Ramlet bootstrapped the company with $30,000 less than seven years ago. Morning Consult’s valuation has tripled in less than a year and has run rate revenue exceeding $100 million.
Morning Consult’s clients include more than half of the Fortune 500, reportedly including four of the top five pharma companies, six of the top 10 food and beverage companies, and 10 of the top 15 financial services companies.