Zappi, a Boston, Massachusetts-based consumer insights platform designed for creators, announced that it raised $170 million in growth capital from Sumeru Equity Partners (“Sumeru”) and co-investors.
This strategic investment from Sumeru follows several years of strong momentum for Zappi and the expansion of its team to over 300 people in 13 countries. This investment will accelerate Zappi’s position as the leading software platform for agile consumer insights.
The company intends 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 the leading talent to make customers successful on the platform.
“Zappi has a bold vision for the future: we want to digitize consumer insights for every enterprise,” said Steve Phillips, CEO, and co-founder of Zappi. “Today, only 3% of the market research industry is digitized. The other 97% is controlled by service-based incumbents that are slow, expensive, analog, and don’t fit the needs of creators. We’re driving innovation in the century-old industry with a platform that acts as a single source of truth for the modern enterprise, where creators have the right insights at their fingertips to inform every decision. Sumeru’s experience in high-growth, innovative SaaS businesses and commitment to people and growth culture made them the perfect partner to help us achieve this ambitious vision.”
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 company works with over 350 global enterprises, including PepsiCo, McDonald’s, Heineken®, and Reckitt, to bring pre-launch consumer insights to every phase of their creative processes.
Company: ZappiStore Limited
Round: Growth Capital
Funding Month: December 2022
Lead Investors: Sumeru Equity Partners
Company Website: https://www.zappi.io/web/
Software Category: Consumer Insights Platform
About the Company: Founded in 2012 by market research industry veterans, Zappi is the leading consumer insights platform designed for creators – the insights professionals, marketers, and product innovators that bring fresh, new ideas to life each day. With the help of Zappi, insights leaders can accelerate innovation pipelines and bring new ideas to market faster. More than 350 of the world’s most progressive brands use the Zappi platform to better understand consumers, accelerate the innovation pipeline, and optimize ads and products before they go to market with pre-launch data. Zappi has been recognized as one of the hottest martech companies in 2022 by Business Insider and recognized by Newsweek and Comparably for its engaging and inclusive workplace culture. With offices in Boston, London, and Cape Town.