Founded in 2015 and based in London, Streetbees operates a human intelligence platform that lets people record by video, photo and text the reasoning behind their purchasing decisions. It maintains a community of 3.5 million consumers who capture emotion and context in the moment. The company applies deep neural networks to analyse that unstructured data and deliver rich insights for clients. Eight of the world’s ten largest consumer goods companies, including PepsiCo, Unilever, and Procter & Gamble, rely on Streetbees’ intelligence. Financially, Streetbees announced a €34 million Series B in October led by Lakestar and has now secured an additional €5.5 million investment. The firm is planning a significant recruitment drive and continued international expansion. Streetbees operates a phone app that asks over-the-spot surveys and lets users chat, send photos and share stories, effectively enabling consumers to sell behavioural data (the site says it pays up to £5 per entry). The company applies deep neural networks to index and analyse a proprietary dataset of millions of offline moments, claiming to make the offline world visible and searchable. Streetbees reports over 3.5 million consumers worldwide using its app and says it serves eight of the world’s largest consumer goods companies, including PepsiCo, Unilever and Procter & Gamble. With the fresh funding, the company plans to pursue data acquisition across new verticals such as media, entertainment and finance. Streetbees is headquartered in London, has an office in Lisbon and has opened a new office in the US. The company intends to grow headcount from about 100 to 230 over the next year. It closed a $40 million Series B to accelerate growth of its platform. Streetbees operates a chat-style app where over 1 million users across 150 countries share videos, photos and text about daily life; the company applies advanced natural language processing and machine learning to surface not just what users do but why and what they may do next. Its core product transforms real-time community data into actionable insights for brands and includes a new 'Always On' platform that gives customers ongoing access to real-life stories rather than one-off surveys. Customers include Unilever, PepsiCo, BBC World Service, Vodafone and L’Oreal, and nine of the world’s ten largest FMCG companies. Led by CEO Tugce Bulut, Streetbees plans to use the new funding to further advance its ML technology, expand its data science team and develop its community networks worldwide. The company is growing in the US, having opened an office there in January 2018, and currently employs 75 people across London and Lisbon. Streetbees recruits “bees” — ordinary people around the world — who capture moments from their lives via smartphone, sharing habits, shopping preferences and opinions for corporate clients. The platform verifies contributors via phone-number verification and background checks, and asks for photos and videos to ensure participation. It combines artificial intelligence, mobile geolocation technology and social media to gather and analyze data. Every user is paid in cash within 24 hours for sharing insights. The company already works with clients including Unilever, PepsiCo, Coca-Cola, L’Oréal, Dyson, The Times Education Supplement, Vodafone and Amnesty International, and currently has over one million users in 87 countries. Streetbees plans to use the new funding to expand operations and double its 40-strong team over the next year, and expects to reach 10 million users over the course of the year.

Total raised

$64M

Funding rounds

4

Latest round

Equity

Latest activity

Dec 2020