Manchester-based consumer insights platform Vypr has received a £3.4 million investment. £3 million arrived via YFM Equity Partners with Vypr's management team, existing shareholders, and former identity verification, location intelligence, and fraud prevention company GB Group CEO and Vypr Chairman Richard Law investing the remaining £400,000.
The new injection of capital is to be used to help Vypr scale its product development as well as grow its commercial teams.
Vypr is helping companies create better products faster with its cloud-based product intelligence platform, which aids in saving time and costs by providing insight into aspects of their product innovation including concept screening, packaging design, product claims, and marketing.
With a client roster including M&S, Leon, and Ella's Kitchen, Vypr reports revenues doubling over the past 18 months.
"We have been really impressed by the power of the Vypr platform and how rapid and robust consumer-validated insights help clients to streamline their product intelligence processes and reduce waste and cost,” commented YFM’s Steve Harrison.