# Elicit Research, PBC

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elicit-research-pbc

- Industry: Software
- Headquarters: Covina, US
- Website: www.welicit.com/
- Total disclosed funding: $31M
- Latest round: Series A (Oct 21, 2024)
- Investors on record: 7

## About

Elicit Research, PBC specializes in enhancing user engagement and communication through innovative digital solutions, providing tools for feedback collection and data analytics aimed at improving customer satisfaction.Elicit Research focuses on delivering digital engagement solutions for various industries. Founded in 2023 in Covina, US, the company has completed 2.0 deals, with its most recent deal dated February 26, 2025. Elicit Research raised USD 22.00 mn in a Series A funding round, co-led by Footwork and Spark Capital, with participation from Fifty Years, Basis Set Ventures, and Mythos Ventures. The founder's background and history of prior ventures is not disclosed.Welicit specializes in providing innovative solutions designed to enhance user engagement and communication across various digital platforms. Their primary offerings include a suite of tools that facilitate real-time feedback collection, audience engagement, and data analytics tailored for businesses aiming to improve customer satisfaction and operational efficiency. Aimed at both B2B and B2C markets, their services cater to clients in sectors such as retail, hospitality, and education, where understanding customer sentiment is vital. The products are designed to be user-friendly, enabling clients to deploy feedback initiatives quickly and effectively, ultimately driving informed business decisions. Welicit's solutions are marketed across North America and Europe, targeting businesses looking to refine their customer experience strategies.Revenue generation for Welicit is primarily driven through subscription-based models, where clients pay for access to their suite of engagement tools on a recurring basis. The pricing structure is tailored to accommodate different business sizes and needs, featuring tiered plans that provide varying levels of functionality and support. For example, larger enterprises may opt for comprehensive packages that include advanced analytics and dedicated account management, while smaller businesses might choose entry-level subscriptions that cover essential features. Additionally, partnerships with complementary service providers enhance revenue opportunities, offering bundled services that deliver added value to clients. This structured approach to client transactions ensures a steady revenue stream while fostering long-term relationships within their client base.In February 2025, Elicit Research, PBC raised USD 22.00 mn in Series A funding, which will be utilized to develop its technology. The company has plans to launch new products aimed at further enhancing user engagement tools, with specific release dates yet to be announced. Additionally, Elicit Research is targeting expansion into new markets, particularly aiming to establish a presence in Europe and Asia by the end of 2026 as part of its growth strategy.

## Funding rounds

- Series A, Oct 21, 2024, $22M — Spark Capital, Basis Set, Fifty Years, Footwork, Mythos Ventures
- Seed, Sep 25, 2023, $9M — Basis Set, Fifty Years, Illusian Group, Julian Capital, Mythos Ventures

## Investors

- Basis Set (https://capitalatlas.ai/funds/basis-set) — Seed, Series A
- Fifty Years (https://capitalatlas.ai/funds/fifty-years) — Seed, Series A
- Illusian Group — Seed
- Julian Capital (https://capitalatlas.ai/funds/julian-capital) — Seed
- Mythos Ventures (https://capitalatlas.ai/funds/mythos-ventures) — Seed, Series A
- Spark Capital — Series A
- Footwork (https://capitalatlas.ai/funds/footwork) — Series A