Streetbees

About Streetbees

Streetbees operates as a human intelligence platform, capturing real-time consumer behavior and the context behind it for major brands. Founded in 2015 by Tugce Bulut and Oliver May, the London-based company was established to address the lack of accessible, real-time consumer data, particularly in underserved markets. Bulut's background as a strategy consultant, where she advised consumer firms on international expansion, combined with May's experience as a former Morgan Stanley trader, shaped the company's direction. They identified that significant business decisions were often hampered by a fear of the unknown in markets lacking readily available data.

The company's core offering is its AI-powered platform, SBX, which analyzes unstructured data collected from a global community of users, known as 'bees'. These users, numbering over 3.5 million across 190 countries, utilize a chat-style mobile app to share moments from their daily lives through text, photos, and videos. This methodology allows Streetbees to gather qualitative insights in-the-moment, such as the emotions and context behind a consumer's interaction with a brand, which traditional surveys often miss. The platform uses natural language processing and machine learning to analyze this data, providing clients with verified and collated business intelligence.

Streetbees serves a diverse clientele, including large enterprises in the consumer goods, media and entertainment, retail, finance, and insurance sectors. Notable clients include Unilever, PepsiCo, Sony Pictures, Carlsberg, and L'Oréal. The business model primarily revolves around providing these clients with access to consumer insights. Revenue is generated through custom research projects and a subscription-based 'Always On' service, which offers continuous access to a stream of consumer data via an online dashboard. This subscription model provides a stable, recurring revenue stream. The company has secured significant funding, raising a total of $72.7 million over seven rounds from investors such as Atomico, Lakestar, and Octopus Ventures. In September 2023, founders Tugce Bulut and Oliver May departed the company, with Chief Client Officer Vidisha Gaglani and Chief Technology Officer Sean O'Connell taking over as chief executives.