London-based ‘next gen’ market research startup Streetbees raises €34 million to advance deeptech to decode human behaviour | EU-Startups

Today Streetbees, a ‘next gen’ marketing research start-up, has announced closing an approx. EUR34 million Series B round to speed up the advancement of the world’s first human intelligence platform. The round, which was led by Lakestar with involvement from LocalGlobe, Atomico, GMG Ventures and Octopus, acknowledges the potential of this fast-growing start-up to take advantage of its neighborhood of 3.5 million consumers and decode human behaviour.

Established in 2015, Streetbees lets people record by video, picture and text the reasoning behind their getting choices, to bring abundant insights for business. Its developer Tugce Bulut (who we recently included in our) has grown a community of millions users– or ‘bees’– throughout 189 countries, an effective community indeed. The Streetbees group apply deep neural networks to the raw information collected by this community, which is able to record the feeling and context behind the 80% of human choices that we make offline. Simply as Google indexed the online world, Streetbees is making the offline world visible and searchable by indexing its exclusive dataset of millions of offline minutes.

Currently, 8 of the world’s 10 biggest durable goods business– including PepsiCo, Unilever and Procter and Gamble– rely on Streetbees to offer intelligence they can not discover somewhere else.

“Human reality is extremely intricate, and while innovation has actually made progress in healthcare and pharmaceuticals, we’re still no closer to really comprehending the decisions that we make. Our behaviour is caught online and in the synthetic truth of social media, however the near 80 percent of our lives that occurs in the offline world, remains untapped,” described. “Streetbees is constructing the world’s very first human intelligence platform with a totally proprietary dataset to index these offline moments in customers’ own words. With this round of funding, we will accelerate the production of a searchable world where brand names can lastly analyze human behaviour and decode the real reasons that consumers do what they do.”

Over the past 12 months, Streetbees has actually attained 150% revenue growth and reached a critical mass of exclusive information in the consumer goods space, allowing brands to access a searchable database, abundant enough to address their concerns.

This Series B round allows Streetbees to fund information acquisition throughout a variety of brand-new verticals including ‘Media & & Entertainment’ and ‘Finance’ that will unlock significant brand-new sales chances. With its head office in London, an office in Lisbon and a new workplace in North America, Streetbees likewise prepares to increase headcount from 100 to 230 over the next 12 months.

Throughout COVID-19, Streetbees has played a helpful function for nationwide health services and NGOs such as the NHS and the Red Cross, allowing them to comprehend how customer fears and psychological health have been progressing through the pandemic. Streetbees has likewise launched a public dealing with ‘Mood of the World’ platform, providing a real time view of consumer emotion across 50 markets, obtained from open text.

Christoph Schuh, Partner at Lakestar, commented: “We are extremely happy to lead the Series B round and to sign up with Streetbees on its effective journey. The market for client research is mainly managed by an oligopoly of legacy panel players and has seen little disruption. Streetbees has an innovative always-on method of engaging with the client base at worldwide scale to rapidly and precisely comprehend their evolving needs and behaviours. The unpredictability of the worldwide COVID-19 pandemic has shown the worth and need of having a real-time product suite that turns raw information into customer intelligence and actionable insights.”

LocalGlobe, an early financier in Streetbees, is investing once again through its breakout fund, Latitude. George Henry, General Partner, LocalGlobe/ Latitude, explained, “Much like Bloomberg ended up being the platform of option for experts requiring up-to-the-minute access to monetary market details, we have constantly felt that Streetbees will become the de facto marketing research platform for brand names needing real-time access to quickly altering consumer markets.”

Alan Hudson, Managing Partner, GMG Ventures LLP, an investor in the round, explained: “In the current market environment, more than ever, brands need to acquire qualitative genuine time human insights at scale. Streetbees’ international network of engaged customers and its AI based platform offer these insights and power its clients choice making, both at the tactical and operational levels. We believe the team’s talent and focus even more boost its positioning as a true disruptor in the market research sector. We are thrilled to continue our assistance of the company in its latest funding round and look forward to seeing Streetbees continuing to prosper.”