HV Holtzbrinck Ventures has raised a new €535 million fund to support up-and-coming digital market leaders from Germany and Europe. The latest fund brings assets under management to over €1.7 billion. Going forward, the firm, which has invested in unicorns such as Zalando and HelloFresh, will broaden its scope; while the core approach remains unchanged,…
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Even in the current internet era, it is claimed that 80% of the human decisions are made offline. In order to make the offline world more visible and searchable, Streetbees indexes its proprietary dataset of millions of offline moments similar to how Google indexes the online world. With its own community of 3.5 million consumers capturing emotion and context ‘in the moment’ when they engage with brands, Streetbees uncovers growth opportunities by applying deep neural networks to analyse this unstructured data.
Bags €34M funding
In a recent development, Streetbees announced that it bagged $ 40M (nearly €34M) Series B funding led by Lakestar, along with participation from Latitude, Atomico, GMG Ventures, and Octopus. The investment will be used to accelerate the development of the world’s first human intelligence platform, claims the company.
The funding round lets Streetbees to fund data acquisition across a variety of new verticals including media, entertainment, and finance. This will unlock new sales opportunities that are significant for the company. Streetbees has its headquarters in London and operates with an office in Lisbon and a new office in North America. Besides this, it also plans to increase its team from 100 to 230 over the next year.
Tugce Bulut, CEO, Streetbees says, “Streetbees is building the world’s first human intelligence platform with a completely proprietary dataset to index these offline moments in consumers’ own words. With this round of funding, we will accelerate the creation of a searchable world where brands can finally decipher human behaviour and decode the real reasons why consumers do what they do.”
Data mining bees
According to the company, Streetbees reveals how people behave, and why, by analysing real-life moments collected from its own global community. Over 3.5 million users – or ‘bees’ – across 190 countries worldwide use the chat-style Streetbees app to share moments from their daily lives via videos, photos and text. Through applying natural language processing technology to the results, Streetbees claims to uncover not just what they do, but also why they do it, and what drives them – and predicts what they may do next.
Significant role during pandemic
Streetbees was established in 2015 by Tugce Bulut and Oliver May in London. According to the company, it helped national health services and NGOs such as the NHS and the Red Cross during the COVID-19 crisis. It allowed them to understand how consumers’ fears and mental health have been evolving through the pandemic.
The company also released a public facing Mood of the World platform, which provides a real-time view of consumer emotions across 50 markets.
The company partners with world-leading brands across the consumer goods, media and entertainment, retail & insurance sectors. It’s clients include Unilever, PepsiCo, Sony Pictures, Carlsburg, Santander, Ikea, Vodafone, and L’Oreal.
As per the company, Over the past 12 months, Streetbees has achieved 150% revenue growth and reached a critical mass of proprietary data in the consumer goods space letting brands to access a searchable database, which is rich enough to answer their questions.
Streetbees has its headquarters in London and operates with an office in Lisbon and a new office in North America. Besides this, it also plans to increase its team size from 100 to 230, over the next 12 months.
Main image picture credits: Streetbees
Ryder System launches $ 50M venture capital fund, RyderVentures South Florida Business Journal
“startups when:1d” – Google News
In this digital era, it’s imperative to have a robust digital marketing plan in place from day one, for any business to grow. Reportedly, despite the business impact from COVID-19, the global digital intelligence platform market is expected to have positive and superior growth.
The report also suggests that the market size has the potential to grow by $ 10.11B (approx €8.6B) during 2020-2024, and the growth momentum will accelerate during the forecast period.
Digital market intelligence provides essential insights on competitors, industry, and audiences that enable companies to capitalise on market opportunity and increase market penetration.
Digital market intelligence company raises €102.1M
In a recent development, an Israeli-based digital market intelligence company, SimilarWeb, has raised $ 120M (approx €102.1M) in a fresh round of funding co-led by ION Crossover Partners and Viola Growth.
The deal includes both primary and secondary components and brings the company’s total funding to date to $ 240M (approx €204.4M).
The raised capital will be used to accelerate SimilarWeb’s growth plans, expand brand awareness, and support the expansion of the business through M&A activities.
The company also appointed two new executives, Ron Asher and Kevin Spurway as CTO and CMO, respectively.
Founded in 2007 by Or Offer and Nir Cohen, SimilarWeb offers an AI-based market intelligence platform that helps monitor web and mobile app traffic, as well as provide analytics and digital insights. The platform is used by businesses, enterprises, marketing professionals, and analysts.
According to the company, it provides reliable data as per the industry standard for measuring online behavior. Its proprietary technology aggregates hundreds of sources which is then coupled with machine learning algorithms to understand the digital activity.
SimilarWeb has offices in Israel, New York, the UK, France, Japan, and Australia. Currently, the company has about 600 employees and is looking to hire 200 open roles across all offices, with plans to grow global headcount by over 20% by January 2021.
“At the peak of the lockdowns, we saw time spent online increase dramatically around the world. Digital data is becoming more important than ever to executives around the world as digitalisation is accelerating exponentially because of COVID-19. As digital intelligence and market data become more important to companies, it is clear that our data has never been more valuable,” says Or Offer, CEO and founder of SimilarWeb.
According to the company, more than half of the Fortune 100 companies rely on SimilarWeb for digital insights, including companies such as Walmart, P&G, Adidas, and Google, among others.
Back in December 2015, the Israeli web analytics and traffic measurement startup had acquired Quettra, a provider of mobile analytics and measurement tools, to move deeper into Mobile Analytics and big data.
Prior to that, in July 2015, SimilarWeb acquired Tel Aviv-based content discovery platform Swayy. The deal was aimed at acquiring the Swayy’s talent and expertise to aid with the development of SimilarWeb’s own content recognition algorithms.
Image credit: SimilarWeb