September 22, 2022
Clearsight Advises AnswerLab on an Investment by Shamrock Capital
Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its industry-leading Digital Transformation practice. Clearsight served as advisor to AnswerLab, LLC (“AnswerLab” or the “Company”) on a strategic investment from Shamrock Capital Advisors, LLC (“Shamrock”).
AnswerLab is a leading independent UX research firm that partners with global brands such as Google, Amazon and Meta to advance their digital product development efforts. The Company offers research services in digital strategy, optimization and measurement across the product development lifecycle to provide strategic insights on their UX capabilities and needs. The San Francisco-based company and certified Great Place to Work® is led by Founder and CEO Amy Buckner Chowdhry (she/her), a widely recognized leader in the UX and technology industries, and a vocal advocate of diversity, equity and inclusion (DEI) in the corporate world. In addition to her business success, Buckner Chowdhry is renowned for advancing DEI initiatives, not only with her own firm’s corporate policies and culture, but also throughout the technology industry over the past 16 years. Buckner Chowdhry has received multiple honors as a female entrepreneur and leader, including being named one of Fortune’s 10 Most Promising Women Entrepreneurs and one of EY’s 10 Entrepreneurial Winning Women.
In response to growing market demand for digital product development and digital strategy, Buckner Chowdhry decided to propel AnswerLab’s growth journey by pursuing a partnership with a financial sponsor with deep experience in the professional services sector. Buckner Chowdhry found a partner in Shamrock, a firm that reflects the same core values that AnswerLab was built on: diversity in leadership, social justice and corporate responsibility.
Shamrock is a Los Angeles-based investment firm specializing in media, entertainment, communications and related sectors. Shamrock’s investment will drive continued growth and expansion of AnswerLab’s service offering and team as it seeks to deliver critical insights for enterprises looking to improve engagement, reduce costs and increase conversion on their digital products. Shamrock is committed to investing in the UX space to help AnswerLab scale, enabling the Company to bring its human-centered culture and conscious company framework to more people and brands.
“The AnswerLab team had very high standards for our first investment partner,” said Buckner Chowdhry. “The firm had to not only value DEI but also demonstrate their commitment through actions and impact. Most potential investors who had reached out to us over the years failed to meet our requirements. Clearsight was the perfect partner to find the needle in the haystack of private equity firms. We couldn’t be more thrilled with the Shamrock partnership, or with the incredible work of the Clearsight team to get us to today.”
Philo Tran (he/him), Managing Director and Head of Clearsight’s Digital Transformation practice, remarked, “In addition to having a strong reputation for championing DEI initiatives, Amy and the AnswerLab team have developed into the clear leader in the UX research and strategy space. We were thrilled Amy trusted us to guide the Company through the journey of finding a financial sponsor that aligns with AnswerLab on both social and professional goals. AnswerLab and Shamrock are a great match and are well-positioned to succeed together moving forward.”
Clearsight Vice President Emily Kasprzak (she/her) added, “AnswerLab is a leader in the UX industry with a commitment to driving meaningful impact and change through DEI initiatives. Amy’s passion for making the world a more inclusive place is key to AnswerLab’s success, and we are excited to watch their partnership with Shamrock grow in the coming years.”
The Clearsight deal team included Philo Tran, Gretchen Frary Seay, Emily Kasprzak, Matt Levinson and Ben Elasy.