- Tegus — a leading market intelligence platform for decision makers — announced it raised a $90 million Series B funding round. These are the details.
Tegus — a leading market intelligence platform for decision makers — announced it raised a $90 million Series B funding round led by Oberndorf Enterprises and Willoughby Capital. Launched in 2017 by twin brothers Michael Elnick and Thomas Elnick, Tegus transformed the research process for decision makers at top institutional investment firms, Fortune 1000 enterprises, investment banks, and consultancies.
Now Tegus serves over 1,000 customers, a 300% increase in the last year. And Tegus will use the recent investment to continue its rapid expansion, broaden their data offerings, and to accelerate the development of its product suite. Plus the company headcount has grown from 115 employees last year to over 300 today. Going forward, Tegus plans to hire more than 400 new employees next year as the company scales sales, product, and engineering teams to meet customer demand.
Tegus will also jump-start its European expansion, opening a new office in Waterford, Ireland. And the company is hiring for a wide range of go-to-market and operations roles in Europe. Over the next 2 years, Tegus committed to hiring an additional 100 team members in the region.
Tegus has filled key leadership roles this year, adding a team of seasoned executives who have been instrumental in leading hyper-growth organizations, including CPO Tim Anderson (Zapier, Glassdoor), CTO Ryan Aylward (Glassdoor), and GC/CCO Jason Howard (SEC).
KEY QUOTES:
“Every company in every industry relies on qualitative insights and information to make better decisions, faster. Tegus created a modern research hub which rapidly educates users on the most relevant business topics, enabling informed decisions.”
— Thomas Elnick, Founder and Co-CEO of Tegus
“Today’s announcement reflects the strength of our business, the enormous customer demand for our products and the incredible opportunity ahead. Our investor base is unique in that all of them have been Tegus customers for many years. We feel fortunate that our largest investors are also daily users of our product, and we are excited to partner with Oberndorf and Willoughby to draw on their experience building differentiated companies for the very long-term.”
— Michael Elnick, Founder and Co-CEO
“In a few short years Tegus built the most comprehensive primary diligence platform in the industry. We feel grateful to invest alongside such a talented team. Their product has dramatically improved our investment process and we look forward to seeing what Tom, Mike, and the Tegus team build next.”
— William E. Oberndorf, Chairman of Oberndorf Enterprises
“Tom and Mike have created a product that revolutionizes the primary research industry. As customers, we see first-hand the incredible efficiencies and valuable insights driven by the platform. We are very pleased to support Tom and Mike in building Tegus for the long term.”
— Daniel Och, Founder and CEO of Willoughby Capital
