How Much Did Highlight Raise? Funding & Key Investors

Highlight has successfully raised funds through multiple rounds, including a recent Series A round in August 2023. The platform is designed to streamline in-home product testing, offering comprehensive solutions from recruitment to data collection.

Keep reading to explore the intricacies of Highlight's fundraising journey and the investors backing this innovative platform.

What Is Highlight?

Highlight, founded in January 2021 by Dana Kim and Ethan Kellough, is a market research platform based in New York, New York. The company operates within the Information Technology, Market Research, and Software industries.

With a team of 51-100 employees, Highlight specializes in in-home product testing, offering seamless distribution and data collection. The platform serves a diverse range of industries, including food & beverage, personal care & beauty, and household goods, providing brands with high-quality product data at scale.

How Much Funding Has Highlight Raised?

1. Series A
   • Amount Raised: $18,000,000
   • Date: August 2023
   • Lead Investors: Acre Venture Partners, HearstLab
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To automate product testing for fast-moving consumer goods (FMCG) brands.
2. Series A
   • Amount Raised: Undisclosed
   • Date: August 2023
   • Lead Investors: Eudemian Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further expand their market reach and enhance product offerings.
3. Seed Round
   • Amount Raised: Undisclosed
   • Date: May 2023
   • Lead Investors: Alumni Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support early-stage development and product innovation.
4. Seed Round
   • Amount Raised: $7,000,000
   • Date: March 2022
   • Lead Investors: First Round Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance data collection capabilities.
5. Seed Round
   • Amount Raised: $1,200,000
   • Date: November 2020
   • Lead Investors: HearstLab
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To launch the platform and begin initial market penetration.

Total Amount Raised: $26,200,000

Current Valuation: Not publicly disclosed

Key Investors

• Acre Venture Partners
  • Details: Acre Venture Partners is a venture capital firm that participated in Highlight's Series A funding round on August 15, 2023. They focus on investing in companies that are transforming the food system.
  • Investment Focus Areas: Food technology, agriculture, sustainability.
  • Notable Investments: Beyond Meat, MycoTechnology, Brightseed.
• HearstLab
  • Details: HearstLab is an early-stage venture fund that supports women-led startups. They have invested in Highlight multiple times, including the Series A and Seed rounds.
  • Investment Focus Areas: Media, technology, healthcare.
  • Notable Investments: The Muse, ReserveBar, Everlywell.
• Alumni Ventures
  • Details: Alumni Ventures is a venture capital firm that participated in Highlight's Seed funding round on May 15, 2023. They invest in a wide range of sectors and are known for their network-driven approach.
  • Investment Focus Areas: Technology, healthcare, consumer products.
  • Notable Investments: Robinhood, SpaceX, DraftKings.
• First Round Capital
  • Details: First Round Capital is a venture capital firm that focuses on seed-stage investments. They participated in Highlight's Seed funding round in March 2022.
  • Investment Focus Areas: Technology, consumer internet, enterprise software.
  • Notable Investments: Uber, Square, Warby Parker.
• Eudemian Ventures
  • Details: Eudemian Ventures is a venture capital firm that led one of Highlight's Series A funding rounds in August 2023. They focus on early-stage investments in innovative companies.
  • Investment Focus Areas: Technology, healthcare, sustainability.
  • Notable Investments: Not publicly disclosed.

What's Next for Highlight?

Highlight stands at the cusp of a significant opportunity, aiming to revolutionize the fast-moving consumer goods (FMCG) sector through automation. The vast and ever-growing FMCG market presents a substantial opportunity for Highlight to streamline product testing processes, making them more efficient and effective.

As the demand for rapid and reliable product testing solutions increases, Highlight is well-positioned to attract further investment. Future fundraising rounds could provide the necessary capital to scale operations and enhance their technology, ensuring they remain competitive in a dynamic market.

However, the path forward is not without challenges. Highlight will need to continuously innovate to stay ahead of competitors and overcome potential resistance from traditional FMCG brands hesitant to adopt new technologies. Despite these hurdles, the company's focus on automation and efficiency positions it well for future growth and success.

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