Bain & Company invests in AI-driven market researcher Outset

Bain & Company’s Future Back Ventures was part of a $17-million series A round for Outset, an AI-moderated research platform.

The round was led by 8VC, with Future Back Ventures being a new investor in Outset. Returning investors in the series A round included Alt Capital and Y Combinator.

The 14-person San Francisco startup has now raised $21 million since its founding in 2023.

Bain’s Future Back Ventures, which also launched in 2023, is a venture fund that invests in early-stage startups founded or led by Bain alumni. Sarah Runkle, founding customer success manager at Outset, worked at Bain between 2022 and 2025.

Outset has millions of dollars in annual recurring revenue and more than 50 enterprise customers, including heavyweights such as Nestle and Microsoft.

Outset’s platform has AI moderators conduct video interviews directly with research participants using synthesized voice, text, images, and videos. Participants can respond through voice, text, video, or screen-sharing.

The AI then synthesizes results automatically and provides instant reporting and analytics.

Outset says its AI solution is eight times faster, 81% less expensive, and provides 10 times more reach than human-led research.

“We designed AI agents to do what we couldn't -- talk to thousands of people at the speed, scale and depth that's never been possible,” said Aaron Cannon, co-founder and CEO of Outset. “In 2025, we'll be expanding more deeply into design and customer experience research to empower organizations with more and more powerful agents."

Nestle has used Outset to test new product concepts by interviewing hundreds of participants – achieving the 81% savings Outset cites in its materials. Microsoft, meanwhile, has used the platform to better understand user experiences with its AI products.