Dutch tech-startup Expertwired closed its second round of funding, securing close to €1M to scale its tech-driven industry expert sourcing & matching platform in its mission to disrupt the global market research industry
Amsterdam-based Expertwired is a global tech-driven expert network that has developed an innovative sourcing and matching technology giving its clients almost instant access to millions of industry experts worldwide. Expertwired connects market research firms, in-house consulting teams, investment advisors and many more seeking real-time market intelligence to industry experts. Through its interactive platform, where clients pay for 1:1 video consultations with these experts, Expertwired delivers higher quality matches, and at lower costs than incumbent industry players. Today, Expertwired has raised close to €1M in its second round of funding to continue to fundamentally change how people do market research and businesses connect with industry experts to craft insights and make informed decisions.
According to Reinier Huisman, founder of Expertwired “The potential for a tech-solution to support better decision making is huge. Often, doing market research means hours of ‘googling’ or buying expensive, often outdated, market reports. In today’s world, it is crucial to have quick access to the most recent and relevant information, tailored to one’s interest. This is where Expertwired comes in, allowing our clients to dramatically step up their ability to connect with the latest insights from industry experts. Leading experts are often hard to find, and don’t share their knowledge openly. Our platform allows us to discover leaders in their field, connect with them in a trusted environment, and provide our clients fast and affordable access to their insights.”
Expertwired is growing rapidly since the business launched mid-2021 and clients already openly share their recognition for the game-changing nature of the platform versus incumbent expert networks who often employ resource-intense, time-intense, and cost-intense operating models to deliver from their existing database of experts.
Expertwired’s platform is now mostly used by (strategic) consultancy firms and private equity investors, but eyes a much broader user base and more use-cases. The platform is active in over 18 countries and serves notable clients such as KPMG, PwC, Deloitte, and EY (big four), many private equity firms, large corporations (such as HP, Philips), research firms (Frost & Sullivan) and Universities (Harvard).
Huisman, with over 15 years background in strategy consulting and M&A, explains: “With Expertwired we embarked on a journey to develop a disruptive technology that could custom recruit perfect matching experts without having to rely on an existing, often stale, and overused, member database other industry players typically use. With our automated sourcing & matching technology we are now able to deliver on any client search for industry expertise with better expert matches, at a much lower cost than other expert networks. All this with a more user-friendly experience that puts our clients and experts in the driving seat.”
Where traditional networks (such as GLG, Guidepoint, Alphasights) often require clients to contractually commit to high volumes of pre-paid interviews, Expertwired says it is democratizing the market by allowing businesses to start their searches instantly and get access to experts specifically sourced and matched to their interests, without prepayments. The Expertwired platform supports the full expert seeking journey: from scheduling interviews through different time zones to payment to experts, and provides a safe, compliant environment for knowledge sharing. On the Expertwired platform users can search, select, and book pre-vetted and screened experts in an easy, seamless experience at on average 50% of the costs of traditional networks.
Traditional networks easily charge clients more than €1,000 per expert interview and pay only around €200 to the experts. “Experts often don’t know this, and we think it is fundamentally unsustainable as the experts are really the ones providing the knowledge.”, says Huisman. Expertwired pays out experts on average €400 per interview, but experts always choose their own rate. This makes Expertwired the highest paying platform for experts globally, whilst clients – who pay a mark-up of 20% platform fee – are always better off than through alternative ‘low-tech’ networks. Huisman: “To experts, it’s not all about earnings. We’ve built our technology in such a way that experts on-board in minutes and determine their own hourly rate. We pre-fill their professional experience automatically and enable them to accept or decline incoming opportunities in a few clicks. Straightforward and easy.”
The current round was led by Pop Up Qapital, the new angel syndicate from serial investor Quintin Schevernels (former CEO of Funda). Other individual angels in this investment round include Jurgen van Dijk, Ruud van Hoek (founders Stepstone Corporate Finance), Patrick Stal (ex-N26, Uber, TomTom), and continued participation from existing investor MB Capital.
Quintin Schevernels, Pop Up Qapital: ”The vision of Expertwired’s founders and their ability to develop and launch their impressive technology and platform in such a short time with strong customer traction, quickly convinced us to invest. We believe Expertwired has the potential to redesign the customer experience for market research on a global scale.”
Mathijs Bakker, MB Capital: “As the initial pre-seed investor in Expertwired, we are proud to contribute to the journey of ExpertWired, and its founders, and will continue to do so in the future.”
About Pop Up Qapital
Launched early 2022 by Quintin Schevernels, Pop Up Qapital represents a group of seasoned entrepreneurs highly experienced and familiar with marketplaces and SaaS models and aims to finance and support early-stage startups. One of the things that make Pop Up Qapital unique is that it handpicks relevant angel investors from its network for every single investment. The fund’s investment strategy is mainly focused on SaaS or marketplace startups from the Netherlands.
About MB Capital
Expertwired was in the pre-seed stage funded by MB Capital. MB Capital launched in early 2021 as a family office led by founder Mathijs Bakker. Mathijs is a seasoned entrepreneur with over 25 years of experience in founding several ICT and software companies. Most recently Mathijs sold CSN Groep towards Interstellar and will continue his journey to support, and invest, in start-ups with a strong disruptive business model.
We are disrupting a global market of traditional operating expert networks with our AI-technology driven and transparent marketplace to make sure you get better matching experts for a much lower price.