An AI-powered intelligence platform which counted the likes of Vodafone and Unilever among its clients has fallen into administration just five years on from being valued at $200m.
Streetbees, which raised nearly $80m in total during its 10 years, has confirmed that all of its employees will be made redundant after it could not find a buyer to save the company.
The firm – led by CEO Vidisha Gaglani (pictured) – provided market intelligence for brands by collecting and analysing real-life consumer moments through a chat-style mobile app.
It used AI, machine learning and natural language processing to gather insights from over 3.5 million users (‘bees’) worldwide, who provide photos, videos, and text responses to tasks.
A spokesperson for the London-based company told Sky News: “Streetbees confirms that it has now entered administration after exhaustive efforts to secure additional investment have proved unsuccessful.
“Despite strong interest from multiple parties, we were unable to conclude a transaction that would provide the necessary capital to continue operations.
“Streetbees, which pioneered human intelligence gathering through its innovative platform, had seen strong traction with its new AI-first product SBX.
“However, the legacy challenges of the business, compounded by current market conditions, created obstacles they have been unable to overcome.
“Unfortunately, all staff will be made redundant.”
The company’s revenue peaked at £11.58m in 2021, but this was down to £6.63m a year by the end of 2023.
Cost cutting measures began between 2022-2023 and headcount dropped from 314 in 2021 to 139 in 2025, according to Dealroom data.
Its app had around 3.5m users in 2020, around the same time when it closed its biggest funding round of £31m from backers including Lakestar and Atomico.
Headquartered in London, the company also had offices in North America and Lisbon, and was targeting a potential $300bn market.
However, it has now fallen into administration, with FRP Advisory being appointed as administrator.
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