Human intelligence platform StreetBees raises additional £5m
Posted on December 10, 2020 by Alistair Hardaker
Human intelligence platform Street Bees has announced an additional $6.7m (£5m) of investment from tech investor TempoCap.
The transaction follows Streetbees’ recent $40m Series B round announced in October, led by Lakestar, to accelerate the development of the AI-driven human intelligence platform.
The new investment, in the form of a secondary transaction, allows founders, early employees and angel investors some liquidity,
The firm, which placed 10th on this year’s BusinessCloud London Tech 50, uses its 3.5m consumer app users, or ‘bees’ to help brands capture their emotion and context while engaging with brands.
Via a deep neural network, which analyses this unstructured data, the firm provides marketing insights to the likes of PepsiCo, Unilever and Procter and Gamble.
Tugce Bulut, CEO, Streetbees, said, “As we start an exciting new phase of growth, we felt now was the right time to reward some of our early stakeholders that have contributed to our success so far.
“TempoCap are secondary specialists who have demonstrated their passion for supporting high growth, entrepreneurial businesses, and we look forward to a great partnership.”
Adam Shepherd, Investment Partner at TempoCap, added: “We believe Streetbees is well positioned to capitalise on its recent compelling market momentum and look forward to working with Tugce and the team to further develop the business.”