Streetbees an app to track consumer attitudes attracts $39m Series B round to accelerate its survey platform.
It now has 3.5 million consumers capturing emotion and context ‘in the moment’ when they engage with brands on the app, and get paid small amounts to do so. Since the vast majority of decisions are made offline instead of online, Streetbees says it has a unique way to make the offline world visible and searchable.
This round was led by Lakestar and comes with participation from Latitude, Atomico, GMG Ventures and Octopus Ventures. Some 8 of the world’s 10 largest consumer goods companies – including PepsiCo, Unilever and Procter and Gamble now use Streetbees, in a market estimated to be worth £300bn.
Tugce Bulut, CEO, Streetbees said in a statement: “Streetbees is building the world’s first human intelligence platform with a completely proprietary dataset to index these offline moments in consumers’ own words. With this round of funding, we will accelerate the creation of a searchable world where brands can finally decipher human behavior and decode the real reasons why consumers do what they do.”
Christoph Schuh, Partner at Lakestar, says: “We are very proud to lead the Series B round and to join Streetbees on its successful journey. The market for customer research is largely controlled by an oligopoly of legacy panel players and has seen little disruption. Streetbees has an innovative always-on way of engaging with the customer base at global scale to quickly and accurately understand their evolving needs and behaviours. The uncertainty of the global COVID-19 pandemic has demonstrated the value and necessity in having a real-time product suite that turns raw data into customer intelligence and actionable insights.”