SC Launch Inc. invests in TestedHQMarch 7, 2023
South Carolina Research Authority’s investment affiliate, SC Launch Inc., has invested in TestedHQ LLC. The $300,000 investment will help the Mauldin-based startup continue its expansion as they redefine the market research industry.
TestedHQ became an SCRA Member Company in 2021 when it received a $25,000 Project Development Fund Grant and a $50,000 Acceleration Grant later that year. They became an SC Launch Inc. Portfolio Company with this $300,000 investment.
TestedHQ is redefining the market research industry by working with product development companies to capture the perspectives of professional end users and do-it-yourself consumers to provide market, product, and field research that captures essential customer feedback before a product is launched.
“The team at TestedHQ has a passion for creating products and processes that dramatically capture expert opinions about how new products perform and how they can be further improved. The company integrates into their clients’ product development process and provides them quality input so that when the finished product is launched, its potential for success is substantially higher,” said SCRA Investment Manager Steve Johnson. “They’ve found a way to improve products before they even hit the shelves.”
“Understanding end users’ perspectives is crucial to successful product development processes. At TestedHQ, we focus on capturing end-user sentiments in real-time throughout every phase of the product development process. This allows us to provide actionable data to our clients for them to make faster, more accurate, and more end-user-focused decisions for their products. Our team has been the key to our tremendous growth, with each member contributing knowledge and hard work to grow the business,” said TestedHQ CEO and Founder Michael D’Onofrio. “Our partnership with SCRA and SC Launch Inc. has been pivotal in helping us continue to build TestedHQ and focus on providing game-changing innovation to the process of improving consumer products.”
“TestedHQ started from a thirst to improve product development. They brought engineering and management backgrounds from other positions, and their passion is evident in their rapid growth,” said SCRA Executive Director Bob Quinn. “We’re excited to support their continued success.”
TestedHQ believes the ultimate goal of market research is to capture what people say, what they say they do, and what people actually do. They then incorporate all these insights into successful product launches.
About SC Launch Inc.
Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and investment funding to qualifying SCRA Member Companies. The returns on this funding provide additional coaching and grants to next-generation technology startups.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of academic startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds technology advancements and partnerships with industry, startups, and academic institutions. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch, Inc.