Birmingham video insights platform Voxpopme secures £7.5m
Video insight platform Voxpopme has secured designed to help businesses see the people behind the data.
Founded in 2013 by Dave Carruthers, Andrew Barraclough and Tom Williams, it boasts a client base which includes tech giants Microsoft and Airbnb, alongside household names Coca-Cola and Asda.
The funds have been secured from Mercia Asset Management, which has completed a £2m direct investment as part of a £7.5m syndicated funding round.
Voxpopme’s tools capture customer videos quickly and analyse them at scale. By automating and optimising video research, Voxpopme has transformed from a three-person start-up to a 50-strong global team.
The latest investment is in addition to a total of $7.5m investment in the firm since 2013. Mercia has previously investment £2m and £1.5m in 2017 and 2018 respectively.
The investment round has also attracted two new investors into the business, Chicago-based Origin Ventures and NVM Private Equity. Mercia's direct equity stake is now 23.7 per cent.
Dave Carruthers CEO of Voxpopme said: "We're delighted to complete this funding round which demonstrates the impact video feedback is having on insights and customer experience teams across the globe, where demand is growing considerably.
“We plan to use the investment to both scale the team and invest in product development, including our video analytics engine and additional integration with other SaaS solutions, which will lead to further value creation for our customers."
Julian Viggars, CIO of Mercia Asset Management PLC said: "Voxpopme is enjoying rapid revenue growth built from both domestic and US sales. The company is recognised as a leader in the agile qualitative research market. The company's reputation across multiple industry sectors is particularly impressive, and we are delighted to welcome two new high-profile third-party investors to Voxpopme's share register."