Image credits: Vypr
Manchester-based Vypr, a product intelligence platform that helps manufacturers and retailers with customer insights, announced on Monday that it has secured £3.4M (approximately €3.9M) in a round of investment led by YFM Equity Partners (YFM).
Other investors include the company’s management team, existing shareholders, and Chairman Richard Law. To date, the company has raised £5.5M (approximately €6.3M) in funding.
Vypr says the funds will enable it to continue its rapid growth trajectory through product enhancement and investment in its commercial teams.
Kevin Baldwin, CEO of Vypr, says, “We are delighted YFM has followed up its 2021 investment to help us achieve our ambitious growth plan over the next few years. The funding will bolster our commercial functions, building on the strong ARR growth achieved since 2021 and the significant improvement in renewal rates – an indication our clients are delighted with the insight Vypr brings. We will also invest heavily in our product team, enhancing the client platform and consumer app to provide new functionality and insight. YFM’s involvement has helped us to navigate the market and pushed us to think bigger.”
Vypr: What you need to know
Led by Baldwin, Vypr has developed a cloud-based product intelligence platform that enables businesses to understand changing consumer behaviour through cost-effective consumer insight. It ranges from concept screening and packaging design to product claims and marketing.
Over the past 18 months, the UK company has seen revenues double and the rapid growth of its client base. Its clients include M&S, Leon, and Ella’s Kitchen.
It has also made several senior hires, including appointing Kevin Baldwin as CEO, Chris Williams as CFO, and Adam Warburton as CPO, as it continues building its management team.
Richard Law, Chairman of Vypr, says, “Vypr is addressing the nascent market for real-time insights and intelligence that businesses need to enable them to make the right and most profitable decisions about what new products and propositions to develop and when to launch them. It is building a strong market position and brand and has recruited an enviable group of household-name clients that now base their decisions on Vypr Insights.”
“I’m confident our market will continue to grow strongly as consumers demand better products in shorter development cycles and as more business moves online. I’d like to congratulate the Vypr Team on their success in growing the business and attracting this new funding and thank our shareholders for their ongoing support,” Law adds.
Investor
YFM Equity Partners are private equity investors that have been investing in small businesses since 1982 through its regional office network,
YFM partner Steve Harrison says, “We have been really impressed by the power of the Vypr platform and how rapid and robust consumer-validated insights help clients to streamline their product intelligence processes and reduce waste and cost. We continue to be excited by the market opportunity and look forward to Vypr further developing its market-leading proposition.”
Catch our interview with Paul Down, Head of Sales at Intigriti.
