The Research Platform Makes Its Debut on the List as Demand for Concept Testing Rises Among Agile Product Teams Looking to Get to Market Quick, But Smart
Feedback Loop, the research platform that agile product teams rely on to test ideas directly with target consumers before they launch, announced that it ranked in the top 50% (No. 2358) of the 2021 Inc. 5000 list, the most prestigious ranking of the nation’s fastest growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment: its independent small businesses.
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Feedback Loop makes its debut on the Inc. 5000 list this year, joining the ranks of companies including Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names that gained their first national exposure as honorees on the Inc. 5000.
Feedback Loop’s research platform is designed specifically for product teams who need to test ideas with target consumers and validate market fit before making further investments in product development. The technology automates critical research processes so that teams can conduct rapid concept testing and scale qualitative feedback. As a result, teams not only understand consumers’ opinions, they also understand the why behind that feedback. This allows them to build products based on data and launch products to market confidently.
Brands like Uber, Ad Council, and Rhino trust Feedback Loop to bring the voice of the consumer into critical market decisions.
“Over 85% of all new products fail after going to market, often because companies haven’t confirmed market fit before launching,” said Rob Holland, CEO of Feedback Loop. “We credit our growth to demand from product teams who recognize that early and iterative feedback from their target users makes the difference between a hit and a flop. Thank you to Inc. for recognizing our work to get product teams to market faster, make informed investments, and launch confidently.”
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” said Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
Feedback Loop’s Inc. 5000 ranking follows the close of its $14M Series A funding round in March, which the company is using to accelerate product development and drive widespread adoption of its research platform.
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