- ZappiStore Ltd. announced that it has successfully completed a major USD 170 million funding rounds led by Sumeru Equity Partners and other investors.
- Using Zappi’s platform, innovators may compare the findings of their research to 1.2 billion historical data points to validate, inspire, and then improve their finest ideas prior to bringing them to market.
The artificial intelligence-powered and big-data-focused consumer insights platform ZappiStore Ltd. announced that it has successfully concluded massive USD 170 million fundraising rounds headed by Sumeru Equity Partners and other co-investors.
Zappi is the creator of an innovative ad-testing platform that provides creators with centralized access to modern research methodologies, enabling them to test their ideas quickly, learn about their impact more quickly, and use these insights to make better decisions.
The business asserts that its AI-powered research software is unique in giving actionable results in hours, unlike the traditional weeks like in cases of consumer research. Using Zappi’s platform, creators may compare their research findings to 1.2 billion historical data points to validate, inspire, and improve their finest ideas before bringing them to market.
The platform enables creators to expedite their ideas for advertising, new goods, and purchase experiences by initiating research in over 40 countries in a matter of hours using the tried-and-true methodology. In addition, there is no need to wait around for the study to conclude since Zappi’s surveys are normally completed within six hours, with consumers able to view the data as it is collected in real-time.
This implies that creating and testing hypotheses with only a few clicks is feasible. The survey data may also be shaped, filtered, and compared in various ways to uncover new insights.
Steve Philips, co-founder and CEO of Zappi stated that the company’s mission is to digitize customer data for all businesses. Currently, just 3% of the consumer market research sector is digital, while the remaining 97% is controlled by “service-based incumbents that are slow, expensive, analog, and don’t meet the demands of creators.”
Steve Philips, co-founder, and CEO of Zappi, said, “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.”
Liz Miller, an analyst at Constellation Research Inc., informed that Zappi is among the most promising firms attempting to revolutionize how brands consume market research, noting that the industry is notoriously tough to penetrate.
Liz Miller said, “Where Zappi is looking to make its mark is with how quickly and easily brands can understand what their market research insights mean. This is where its AI comes into play, and what really stands out is its promise to analyze against key benchmarks, including competitors and categories. This adds a new layer of analysis that goes above and beyond just what consumers think, showing how they are reacting to your ads and those of your competitors.”
The strategic investment by Sumeru follows several years of what Zappi refers to as “strong momentum.” Their team has grown to more than 300 members in 13 countries during this period. It now collaborates with over 350 worldwide, including PepsiCo Inc., McDonald’s Corp., and Heineken N.V.
PepsiCo’s senior vice president and chief consumer insights and analytics officer, Stephan Gans, stated that Zappi had been a crucial partner in the company’s attempt of digital transformation of its fundamental advertising capabilities. He said that PepsiCo had sent Zappi’s advertising pre-testing tools to more than 100 insights specialists worldwide. He stated, “Our collaboration with Zappi has demonstrated huge business impact and has raised the bar on creative effectiveness year-over-year, significantly improving the ROI on our media investment.”
Zappi stated it will leverage the Sumeru investment to strengthen its position as the industry’s top software platform for agile consumer insights. As part of this objective, the company intends to expand its datasets into new markets, verticals, and categories, develop its platform with new AI and natural language processing technologies and maintain its worldwide workforce expansion.
Miller said, “Zappi needs to invest some of this new cash in self-service, ease-of-use, and access for brands. It also needs to think about how to bring more qualitative intelligence into its quantitative model. This is where rivals like UserTesting have excelled, bringing self-service access to qualitative reactions into the mix.”