Streetbees, the AI-driven market research company that counts Unilever, Vodafone, Heineken, Ferrero, and Avon among its clients, is on the verge of collapse. The firm has filed a notice of intention to appoint FRP Advisory as administrator, according to Sky News.
Founded in 2015, Streetbees previously raised tens of millions of pounds from prominent investors, including a $40 million Series B round in 2020 led by Lakestar, LocalGlobe, and GMG Ventures (the early-stage venture arm of Guardian Media Group, now rebranded as Mercuri). Sources indicate a buyer is being sought to take over the business in the coming days. Staff were reportedly briefed on the insolvency filing late last week.
A spokesperson for Streetbees stated: “Streetbees has engaged advisors to oversee a process aiming to secure investment or sell the business and its assets. We have filed a notice of intention to appoint administrators as a protective measure to provide the time necessary to progress discussions that are at an advanced stage. We will not comment further on any market speculation.”
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