Voxpopme, a leading platform that provides innovative video analytics for brands such as Microsoft, Tesco, Verizon and Clorox has secured a seven-figure Series A investment over the next 12 months from Mercia Fund Managers to support its global expansion.
This investment will support its ambitious growth plans and will be used to enhance the company’s end-to-end video insight technology, ensuring it remains at the leading edge of video research innovation.
Voxpopme currently employs 30 people, and its turnover has more than doubled year-on-year, since 2015. With offices in Birmingham, Salt Lake City and Sydney, the business intends to recruit 15 additional staff across North America, Europe and Asia-Pacific to meet the growing demand for agile video insight.
Founded in 2013 by CEO Dave Carruthers, the business has developed a video analytics platform which enables companies to gain a much deeper understanding of consumers’ attitudes and opinions. By bringing together both qualitative and quantitative data, Voxpopme removes the pain points typically associated with video insight – making video fast, easy and instant for market researchers and customer experience professionals.
Dave Carruthers, CEO and founder of Voxpopme, said: “We’re excited to receive the backing of Mercia Fund Managers. Its record of building valuable businesses speaks for itself and confirms that the demand for agile video insight is increasing exponentially. Mercia’s ambition to grow businesses with global potential matches our plans to advance video research software so that any researcher, marketer or business owner can quickly capture, analyse and share consumer-recorded video insight, anytime, anyplace.”
Julian Dennard, Investment Director at Mercia Fund Managers, said: “We’re delighted to add Voxpopme to our portfolio and look forward to playing an active role in its next phase of growth. The company has built an innovative, market-leading product that has positioned it as the dominant provider of video insight software to professional global brands and agencies. Witnessing the increasing demand for video technology in a market that is estimated by MarketsandMarkets to grow to $40.8billion by 2022, shows its massive potential as a disruptor to the software sector.”