Streetbees, a London, UK-based global intelligence platform, raised $12m in Series A funding.
The round was led by Atomico with participation from existing investors LocalGlobe, Octopus and BGF Ventures.
The company will use the funds to further advance its core machine learning technology, to expand its data science team, develop its community networks across the world, and grow in the US, where it opened an office in January 2018.
Led by Tugce Bulut, CEO, Streetbees provides a machine learning technology platform which transforms the real-time data provided by its global community of users into actionable insights for brands.
Over 1 million users – or ‘bees’ – across 150 countries worldwide use the chat-style Streetbees app to share moments from their daily lives via videos, photos and text, giving as much or as little information as they like. By applying advanced natural language processing technology to the results, the platform uncovers not just what they do, but also why they do it, and what drives them – and predicts what they may do next.
The new platform, called Always On, allows customers including Unilever, PepsiCo, BBC World Service, Vodafone and L’Oreal, and nine out of the world’s ten largest fast-moving consumer goods (FMCG) companies, to have ongoing access to insights from real-life stories, instead of relying on one-shot multiple-choice surveys to try and understand communities and markets.
Streetbees currently employs 75 people at its London headquarters and in Lisbon.