AI-based customer insights startup Zappi raises $170 mn to digitize consumer insights
Zappi, an AI-based research platform that helps businesses gain consumer insights, announced it has raised a whopping $170 million to help digitize enterprise market research. The round was led by Sumeru Equity Partners, with participation from undisclosed co-investors. The latest round follows several years of strong momentum for Zappi and the expansion of its team to over 300 people in 13 countries.
Zappi platform automates market research best practices, helping you make better, consumer-orientated decisions and create ads and products that work. The firm will use the new cash infusion to accelerate its position as the leading software platform for agile consumer insights. The startup also plans to expand data sets across new markets, verticals, and categories; power its platform innovation with emerging technologies–such as AI and natural language processing–to minimize the distance between analysis and action and continue expanding its team globally with new talent to make customers successful on the platform.
Founded in 2012 by CEO Steve Phillips and other market research industry veterans, Zappi offers creators AI-powered research software that returns impactful results in hours–not weeks. The platform allows creators to compare studies against 1.2 billion historical data points to validate, inspire, and optimize their best ideas before going to market. The London-based startup has worked with companies such as PepsiCo, Heineken, and McDonald’s since its inception in 2012 and has around 350 clients.
“Why is it that most products and ads still fail when they hit the market?” Zappi CEO and co-founder Steve Philips said in a statement. “It’s simple: traditional market research is too slow, too costly, and too analog, serving as more of a blocker than an enabler of creative effectiveness and winning innovation.”