Manchester-based Vypr raises €3.9M to help businesses understand changing consumer behaviour

Picture credit: Vypr

Manchester-based Vypr, a product intelligence platform that helps producers and retailers with buyer insights, introduced on Monday that it has secured £3.4M (roughly €3.9M) in a spherical of funding led by YFM Fairness Companions (YFM).

Different traders embrace the corporate’s administration group, present shareholders, and Chairman Richard Legislation. So far, the corporate has raised £5.5M (roughly €6.3M) in funding. 

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Vypr says the funds will allow it to proceed its fast development trajectory by means of product enhancement and funding in its industrial groups.

Kevin Baldwin, CEO of Vypr, says, “We’re delighted YFM has adopted up its 2021 funding to assist us obtain our bold development plan over the following few years. The funding will bolster our industrial features, constructing on the robust ARR development achieved since 2021 and the numerous enchancment in renewal charges – a sign our purchasers are delighted with the perception Vypr brings. We may also make investments closely in our product group, enhancing the consumer platform and shopper app to supply new performance and perception. YFM’s involvement has helped us to navigate the market and pushed us to assume larger.” 

Vypr: What you might want to know

Led by Baldwin, Vypr has developed a cloud-based product intelligence platform that allows companies to grasp altering shopper behaviour by means of cost-effective shopper perception. It ranges from idea screening and packaging design to product claims and advertising. 

Over the previous 18 months, the UK firm has seen revenues double and the fast development of its consumer base. Its purchasers embrace M&S, Leon, and Ella’s Kitchen.

It has additionally made a number of senior hires, together with appointing Kevin Baldwin as CEO, Chris Williams as CFO, and Adam Warburton as CPO, because it continues constructing its administration group.

Richard Legislation, Chairman of Vypr, says, “Vypr is addressing the nascent marketplace for real-time insights and intelligence that companies must allow them to make the precise and most worthwhile selections about what new merchandise and propositions to develop and when to launch them. It’s constructing a powerful market place and model and has recruited an enviable group of household-name purchasers that now base their selections on Vypr Insights.”

“I’m assured our market will proceed to develop strongly as customers demand higher merchandise in shorter growth cycles and as extra enterprise strikes on-line. I’d wish to congratulate the Vypr Workforce on their success in rising the enterprise and attracting this new funding and thank our shareholders for his or her ongoing help,” Legislation provides. 

Investor

YFM Fairness Companions are personal fairness traders which have been investing in small companies since 1982 by means of its regional workplace community,

YFM associate Steve Harrison says, “We have now been actually impressed by the ability of the Vypr platform and the way fast and strong consumer-validated insights assist purchasers to streamline their product intelligence processes and cut back waste and value. We proceed to be excited by the market alternative and look ahead to Vypr additional creating its market-leading proposition.”