Yorkshire investment company, YFM Equity Partners (YFM) has backed a £2.5 million growth capital investment in fast-growing consumer insights business, Vypr.
The company, founded in Manchester back in 2013, now plans to strengthen its sales and marketing operations as it invests in its team and expands into new sectors and overseas markets.
Vypr has built a cloud-based data validation platform that enables manufacturers and retailers to save time and costs on new product development by providing insight into what customers want to see on the shelves.
The company has developed a process that combines research into behavioural science with its own well-segmented consumer panel, putting the client in full control and enabling them to test every aspect of their product innovation, from packaging, pricing and naming to product claims and ranging.
It works with retailers such as The Co-op Food and brands like Weetabix and Müller.
The investment from YFM will enable the business to grow its sales and marketing team as it builds on its strong customer base among food manufacturers, retailers and FMCG brands and moves into new vertical sectors.
Vypr will also continue to invest in product development as well as exploring further international markets, building on its European presence.
“Having known the YFM team for some time, we were confident that they would be able to support us as we invest in a first class team to take the business forward, turning a strong product in a nascent market into a global leader in its field,” said Chair of Vypr, Richard Law.
“For a deal of this size and space in the market, they are the right partner, particularly given their regional coverage. I know a number of businesses in which YFM have invested and I rate the team very highly.”
Dan Freed, partner at YFM, added: “Vypr has developed an agile platform which focusses on providing rapid and robust consumer insight and is valued by many well-known clients.
“We believe that it has a great opportunity to capitalise on increasing digitisation of traditional market research methodologies.
“We look forward to partnering with the team as the business executes the next phase of its growth strategy, targeting new clients, sectors and geographies.”
The YFM team comprised Dan Freed, Ian Waterfield, Laura Sisson and Andy Thomas.