By sporting a roster of clients like Electronic Arts, Publicis Groupe and Google, you’d think GlobalWebIndex, the market research company, is already an world-renowned titan without need for venture capital. However, after finishing its first funding round, it seems the business is just getting warmed up.
Bursting onto the VC scene for the first time, GlobalWebIndex has secured $40m in a series A lead by Stripes Group, the Big Apple growth fund that’s backed consumer tech companies such as Flatiron Health, SPINS, Sift Science and Udemy.
As well as its impressive client book, GlobalWebIndex boasts 22 million customers spanning 44 nations. And with a fresh haul of capital in its treasure chest, the company seeks even greater worldwide expansion by setting sail across the Americas and Asia Pacific on the horizon for new offices. This will build on those opened in New York and Los Angeles in the past 18 months.
Commenting on the success, Tom Smith, founder and CEO of GlobalWebIndex, said: “While revolutionising the services on offer for customers and prospects, the backing will also enable the company to expand its world-class, global team of experts in data, engineering, account management and customer success to serve requirements across industries.”
Speaking about the investment, Ron Shah, partner at Stripes Group, added: “The company set out to reshape how timely and actionable consumer insights are delivered around the world. Having done so with no outside capital until this point, while maintaining profitability, is a testament to the company’s industry-leading technology, exceptional product design, peerless transparency and data quality.”
Being based in London, GlobalWebIndex’s worldwide outlook is one the rest of the country should learn from, especially with Brexit on the way. Indeed, becoming so trusted among household names without funding is one impressive feat.