Product intelligence platform Vypr has secured £5m in fresh funding to accelerate expansion into international markets and adjacent sectors.
The Manchester firm said the raise includes £4m from specialist private equity firm YFM Equity Partners and £1m from other investors and management.
It brings Vypr’s funding to date to £13.4m with YFM’s total investment standing at £9.5m.
Its platform helps global brands to rapidly understand changing consumer behaviour through fast, cost-effective insight, underpinned by behavioural science. This quick, actionable insight helps organisations bring successful new products to market or to improve their current ranges.
Customers include major supermarkets such as Aldi, Asda, and M&S, and food & drink brands and manufacturers including Brewdog, Kraft Heinz and Red Bull.
Others involved in the investment round include Vypr chairman and former CEO of UK tech plc GBG, Richard Law. Existing Vypr shareholders include veteran Manchester venture capitalist, Richard Young, and founder of major UK food producer 2 Sisters Food Group, Ranjit Singh Boparan.
In the past year, Vypr has announced its expansion to provide consumer insight in international markets including Australia, the United States and major European countries. The funding will drive development in these and other markets.
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“Our partnership with YFM has been instrumental in driving Vypr’s growth and there is no clearer sign of potential than a major investor more than doubling its backing,” said Chris Williams, CEO.
“With an excellent team here, a unique product roadmap, and enormous global opportunity, we can now deliver the next phase of our strategy and bring even greater value to our customers globally.
“Our heartland is in new product development for the food and drink industry where we count household names and exciting challenger brands amongst our customers. This raise equips us to evolve our platform and push into adjacent sectors in FMCG and retail in the UK and internationally.”
Sophie Tainton, portfolio director at YFM Equity Partners, commented: “Vypr has continued to deliver impressive growth while driving real innovation in the product intelligence space. The business has built a compelling offering that is now attracting interest from international markets, and we are excited to support the next phase of its expansion.
“With a strong leadership team and a clear vision, Vypr is well-positioned to scale successfully internationally while continuing to enhance its market-leading technology.”