Streetbees, an intelligence platform for marketers, has raised a Series A round of $12 million led by Atomico alongside LocalGlobe, Octopus Ventures, and BGF Ventures.
The app helps marketers to reach out to consumers and gather data on products in real time. The new funds will be used to grow its London-based team, which is developing its machine learning capabilities, and opening an office in the US. It also has a location in Lisbon.
“Human behaviour is too complex to standardise and understand with multiple-choice questions and automated analysis, but this is what most research groups dish up time and time again,” said CEO Tugce Bulut (pictured). “International companies need deep insight into unique drivers of human behaviour to be able to understand their customers and grow into new markets.”
Streetbees’ analytics allows companies and brands to extract more precise data and insights for different markets, he added. The company’s customers include Unilever, BBC, and Vodafone.
“As consumers we expect an always-on approach to service from the brands we love, yet to date it has been impossible for brands to achieve an always-on approach to understanding their customer’s needs and behaviour,” commented Carolina Brochado, partner at Atomico, adding that existing practices for gathering consumer insights are out of date.
“With Streetbees, we have found the world’s first real-time technology-enabled customer insights platform – giving brands dynamic responses, from real customers, for a fraction of the cost and time taken by traditional incumbents,” she said.