Tech firm raises $40m in first Series A funding to accelerate expansion

Announced today (July 25), market research company, GlobalWebIndex has completed its first round of funding, raising $40m from Stripes Group, the New York-based growth fund behind Flatiron Health; SPINS; Sift Science and Udemy.

This investment will enable GlobalWebIndex to accelerate its product development and international expansion.

Since the company was founded in 2009, GlobalWebIndex has grown revenue and headcount year-upon-year, and now has a panel of more than 22 million consumers publishing data across 44 countries.

Tom Smith, founder and CEO, said: “We’ve built our leadership position by delivering audience data to marketers that is accurate, massive in scale, fully opted-in and rapidly delivered.

“Partnering with Stripes Group will enable us to take our capabilities to more marketers around the world, with a trusted partner that believes fully in our mission, vision and cultural values.”

Within the past 18 months, the London-based company has opened new offices in New York and Los Angeles along with technology hubs across Europe.

Plans include the opening of more international offices across the Americas and Asia Pacific.

While revolutionising the services on offer for customers and prospects, the backing will also enable the company to expand its global team specialising in data, engineering, account management and customer success to serve requirements across industries.

Ron Shah, partner at Stripes Group and new member of GlobalWebIndex’s board of directors, added: “We are thrilled to be partnering as GlobalWebIndex continues to expand its efforts in the US, Asia and beyond.

“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.”

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