MindBranch buys custom research company

New partner

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Summit now uses MindBranch to sell off-the-shelf reports, primarily on the topics of wireless, hosting and e-marketplaces. In addition to its direct sales force, Summit sells through resellers, such as MindBranch.

"They are one of the most successful of the different channels," said Lybrook, noting the level of support MindBranch offers on inquiries from potential clients.

Summit had used DeepCanyon Co., the research portal spun off from Hewlett-Packard Co., but that effort was discontinued in October after HP failed to secure a second round of financing to keep the business going.

MindBranch executives say they have confidence in the financial strength of the company and its business model. The company raised $18.5 million last August in its first round of financing, led by Village Ventures Inc. It is now expanding into emerging regions such as Korea.

Arik Keller, director of marketing at MindBranch, said that even with the slow economy, "In 12 months, we're hoping to come out of this really strong and will be going for another round [of financing]."

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