Bethesda consumer and market research company Collage Group wants to hire, innovate and achieve scale — at the same time.
It’s a tall order for the 13-year-old firm, but the tasks will be helped by a $25 million growth capital raise led by Boston’s Wavecrest Growth Partners, the firm closed this week.
What began as a consumer research firm that focused on the U.S. Hispanic community now provides research and insights into multiple racial groups, across gender, sexual identity, age and more. Its revenue has grown by 50% for each of the last three years as it has expanded its areas of expertise. The company declined to share more precise revenue figures.
As the company evolves, though, it will need to tap new avenues to keep growing. The new capital will go primarily toward scaling the business in terms of both technology and marketing, said Collage Group CEO and co-founder David Wellisch.
“It gets harder and harder to retain those growth rates and the only way to do that is…
Read the full story from the Washington Business Journal.
