Research Technology industry doubles in size y-o-y, Lucid’s marketplace grows over 50%
Lucid, the leading programmatic research technology platform, announced a new addition to its corporate development and strategy team with the appointment of Eric Denker to vice president of corporate development and strategy. As the research technology (ResTech) sector grows rapidly, Lucid continues to ramp up investment in building the right team and technology to execute its vision of making consumer answers accessible to anyone, in any industry.
Leading corporate development and strategy for the company, Eric will play a key role in the future growth of Lucid and will be responsible for shaping strategic alliances, investments and M&A. He will also be driving the successful integration of businesses and teams into the broader Lucid organization to accelerate value creation for the company, employees and investors.
Now more than ever businesses need better, cost-efficient access to online research, as sampling shifts from a traditional market research practice to widespread use in nearly every industry. In the last year, ResTech — the fastest-growing segment of the $70 billion market research industry — has doubled in size. Lucid’s marketplace has grown over 50% in that same time, largely attributed to its software business and the launch of Impact Measurement, the company’s media measurement solution.
“The need for timely and cost-efficient access to consumer insight has never been more clear as businesses of all sizes and maturity levels turn to ResTech to make informed decisions. We’ve seen that in the growth and adoption of both our software and media measurement solutions,” said Todd Saypoff, CFO at Lucid. “To keep pace with where the industry is going, Lucid has already been investing in building the best marketplace for connecting businesses with the human answers and opinions they need. With Eric now on board, Lucid is in a position to capitalize on any expansion opportunities, whether that be a strategic partnership or a technology acquisition.”
Prior to joining Lucid, Eric served as director of corporate development at J2 Global. During his tenure, he completed over 15 transactions, including the acquisitions of Moz, IPVanish, and BabyCenter. Before J2 Global, Eric developed and managed strategic partnerships for Willis Towers Watson’s benefits marketplaces, Liazon and Via Benefits.
As ResTech adoption grows and the entire landscape expands, the business applications for programmatic access to consumer insights are also multiplying. New integrations and strategic partnerships between ResTech and other industries — most notably AdTech and MarTech — are already helping businesses navigate change, and strengthening those ties will become increasingly more critical in the future.