Streetbees raises $5.1m in seed funding led by BGF Ventures to expand its research platform
BGF Ventures led the seed financing for Streetbees to support team expansion and platform development.
Streetbees operates a global consumer research platform that uses mobile technology and artificial intelligence to gather real time insights from everyday people for major brands.
Streetbees has raised $5.1m in a seed funding round led by BGF Ventures. The financing drew participation from existing backers including Octopus Ventures and LocalGlobe.
The company operates a consumer research platform that connects global brands with everyday people who record their daily habits, shopping preferences, and opinions via a mobile application. Streetbees combines artificial intelligence, geolocation, and social media to deliver real time data to clients such as Unilever, PepsiCo, and L'Oreal.
The newly secured capital will be deployed to expand operations, specifically by doubling the current team of forty employees over the coming year. Streetbees plans to hire additional engineers and designers to enhance its technology platform and scale its user base.
From the founder
"In a world where brands are willing to invest huge amounts of resources to better understand their consumers, there has to be a better way to capture insights and Streetbees has found it. We use geolocation and mobile technology to engage the right person in the right place to answer brands' questions. Streetbees' grassroots research approach is providing the brands with the rich consumer insights they need at large scale at an affordable price as we connect them directly with their consumers without any intermediaries."
Tugce Bulut
CEO and co-founder at Streetbees
Investor perspective
"Streetbees is disrupting the area of market research which has been carried out with the same traditional methods for years. People are waking up to the failings of political pollsters but market research can also be unreliable and Streetbees can solve that problem by providing rich qualified data in a new way that puts the world's biggest brands directly in touch with their customers."
Harry Briggs
partner, BGF Ventures
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
Categories
About the company
Streetbees
Streetbees gathers real time consumer insights through a global network of smartphone users.