Atomico, Lakestar-backed Startup Streetbees Moves To Appoint Administrators

Founded in 2015, the UK-based startup raised $56M from investors including LocalGlobe, Octopus Ventures, and Business Growth Fund, per Dealroom. Focused on consumer insights, Streetbees has now filed a notice to appoint an administrator, court filings show.

"Streetbees has engaged advisors to oversee a process aiming to secure investment or sell the business and its assets,” Streetbees told Sifted.

“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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Streetbees collaborated with major global brands such as L’Oreal, Heineken, Unilever, and Intel on market research campaigns.

Sky News reported that the decision to appoint administrators followed months of unsuccessful attempts to find a buyer, though a potential acquirer may take control soon.

Dealroom data shows the company’s workforce shrank from 314 employees in October 2021 to 139 by July this year. Streetbees has not addressed questions about staff numbers or the impact of the filing on jobs.

About Streetbees

Streetbees a leader in conversational research, uses AI and Large Language Models to decode human behavior. Its agile insights platform, SBX, delivers fast, tailored insights, making it easier than ever for businesses to access the data they need to drive informed decisions and strategies.