AnswerLab is backed by a strategic investment from Shamrock Capital

Leading independent UX research firm partners with Shamrock to expand enterprise-grade research offerings for digital product development

SAN FRANCISCO, September 22, 2022 /PRNewswire/ — AnswerLab, a leading independent UX research company, today announced that it has raised a strategic investment from Shamrock Capital, Angelsan investment company specializing in media, entertainment, communications and related sectors. This investment will support the continued growth and expansion of AnswerLab’s service offering and team as it strives to provide critical insights for businesses looking to improve engagement, reduce costs and increase conversions for their digital products.

Founded in 2004 by the general director Amy Buckner Chowdhury, AnswerLab helps businesses achieve digital transformation by offering research services in digital strategy, optimization and measurement throughout the product development lifecycle. Through a suite of research methods, consulting services, and flexible engagement models, including large-scale centers of excellence, AnswerLab helps leading global brands scale the impact and impact of their digital product development efforts. This year, with UX research becoming key to product development for companies looking to invest more in digital transformation, the firm has seen significant momentum and overperformance, with revenue up more than 50% year-over-year and a growing client base that includes influential global companies such as Google, Meta, Amazon, American Express, Paypal, Airbnb, Genentech and Fedex.

“In considering the right strategic partner to help us in our next phase of growth, industry expertise and cultural fit were at the top of our priority list,” said Buckner Chowdhury. “We believe that our partnership with Shamrock will allow us to grow and take things to the next level as we continue to invest in the employee experience that has made us a Great Place to Work® Certified.”

AnswerLab has a team of approximately 300 experienced researchers and research operations professionals worldwide. Simultaneously with the expansion of the set of research proposals for business, Buckner Chowdhury has priority initiatives on diversity, equity and inclusion, including commitments to hiring and employment practices and financial commitments 1 million dollars specifically for DEI initiatives.

“Shamrock’s commitment to DEI, including their own internal initiatives and the way we are building our newly formed board, made them an ideal partner for AnswerLab. We will only consider firms that can demonstrate commitment to DEI through their actions and impact output,” said Buckner Chowdhury.

In parallel with Shamrock’s investment, AnswerLab is establishing a board of directors that will include Buckner, along with Shamrock partner Laura Held and VP Alicia Zhu. Held, who has deep industry board experience, also currently serves on the boards of directors of Highwire, VidMob, EDO, Adweek, Bayard, and Wpromote, and previously held positions at The Walt Disney Company, The Carlyle Group, and Credit Suisse. In his role at Shamrock, Zhu serves as director of EDO and Skillable and supports Shamrock Capital’s other investments, including Ad Results Media and Pixellot.

“AnswerLab is uniquely positioned to capitalize on the tailwinds of digital transformation as the demand for UX research becomes an increasingly important element of the product development lifecycle,” Held added. “We are extremely impressed with the depth and innovation capabilities of UX AnswerLab, as well as their scale, quality customer base, rapid growth and stellar reputation. Additionally, we were drawn to their strong commitment to diversity, equity and inclusion, which not only aligns with Shamrock’s values, but is also a key factor in their success. We are excited to be their partner in their next phase of growth and expansion.”

Wilkie Farr & Gallagher LLP acted as legal advisor to Shamrock Capital on the transaction. Clearsight Advisors, Queen Saenz + Schutz PLLC and BDO advised AnswerLab on the transaction.

About AnswerLab

AnswerLab is a full-service user experience analytics firm. With a wide range of research methods, consulting services and flexible engagement models, AnswerLab enables leading global enterprises to apply a human-centered design process to every product they produce. The company’s research experts provide the insights that leading global brands need to create digital products and services that people love and want to use. Answerlab helps digital experience leaders scale their influence, impact and make the right decisions for their end users and business. Research articles from the AnswerLab team have been published by Entrepreneur, Mashable, Forbes, UX Magazine, Inc. and VentureBeat. AnswerLab is Great Place to Work® certified and listed by Inc. 500/5000 for seven consecutive years and among the 100 fastest growing companies by the San Francisco Business Times for six years.

About Shamrock Capital

Shamrock Capital is a Angelsinvestment company with approx 4.1 billion dollars assets under management. Shamrock Capital invests exclusively in the media, entertainment, communications and related sectors through a multi-fund strategy focused on direct investments as well as the ownership and financing of content and media rights. The firm was originally founded in 1978 as a family investment company for the deceased Roy E. Disney and has since grown into an institutionally-backed firm with a leading group of investors, including philanthropic foundations, endowments, and sovereign wealth funds and pension funds. Shamrock Capital works with a strong management team and takes a proactive, collaborative approach to creating value for each investment. For more information visit www.shamrockcap.com.

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Julia Cohen
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SOURCE AnswerLab

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