Cambri raises another €8 million to scale its AI-powered insights platform used by major brands to predict product launch success
New investors include Octopus Ventures and Sir Martin Sorrell's S4S Ventures
LONDON, Oct. 17, 2024 /PRNewswire/ -- Cambri, the AI consumer insights and innovation platform used by household food and beverage brands such as Carlsberg, Coca-Cola, and Nestle has closed a new funding round. Octopus Ventures (one of the UK and Europe's largest VCs) and S4S Ventures (co-founded by Sir Martin Sorrell) joined existing investors OpenOcean, Spintop Ventures and The 98 (co-led by former Nielsen US President Lynda Clarizio) in the new round. Cambri's transformational AI technology addresses a major industry problem: the high failure rate of product launches. The new funds will be used to scale Cambri's operations to meet the enormous opportunity and demand within the market research industry.
Traditional market research, consumer insights, and prediction models are outdated, static, and notoriously inaccurate, typically delivering just a 40% prediction accuracy. This means brands waste time and resources developing and launching products that consumers don't need. By contrast, Cambri's proprietary AI engine not only predicts the likelihood of a product's success but also provides actionable insights to help improve products before launch. Cambri's AI models are 2-3 times more accurate than traditional methods, enabling its customers to regularly achieve over 80% prediction accuracy for product launch success - contributing to Cambri's 146% year-over-year ARR growth.
"Cambri really excels at providing timely and innovative research solutions across the innovation cycle. They've really helped us increase speed to deep and very actionable insights and I'm looking forward to continuing to grow our partnership. Everyone says you can only pick 2 from good, fast, and affordable…with Cambri, I get all 3." Billy Fletcher, Global Director of Human Insights for Emerging Categories, The Coca-Cola Company
"Cambri is redefining how consumer insights drive innovation success. We've experienced rapid international growth and attracted many of the world's leading consumer brands as customers. The new funding from these two experienced investors underscores the dramatic value our proprietary AI models drive for our customers, and will significantly support our expansion." Ben Harknett, Cambri CEO
"We're really excited about Cambri's potential to drive significant efficiency gains and successful product launches for a wide range of businesses. The pace of their growth, and strength of their international partnerships, are testament to the value being generated by their proprietary AI models. We're looking forward to seeing what they do next." Constanza Diaz, Investor, Octopus Ventures
"Innovation is at the heart of corporate growth, but it is notoriously hard to achieve - 95% of the nearly 30,000 products introduced each year fail. When long-established consumer brands with impressive innovation track records such as Coca-Cola and Carlsberg are using Cambri's AI-powered platform to drive their product innovation, this technology is capable of huge impact." Sir Martin Sorrell, Executive Chairman at S4 Capital Group and Co-founder at S4S Ventures
"The legacy market research market is ripe for disruption. Cambri's unique data sets and AI model have transformed an outdated and inaccurate process into a superpower for household consumer brands. Enterprise skepticism about the true value of AI to their their day-to-day operations may be valid across many current use cases - but Cambri stands out as an exception delivering clear and actionable value." Sanja Partalo, Co-Founder and Managing Partner of S4S Ventures
About Cambri
Cambri is a Nordic-based technology company founded in 2018. Its team consists of dedicated academics, technologists, product developers, data scientists, innovators, and insights professionals. Cambri's mission is to help consumer brands avoid launching products that do not meet consumers' true needs.
With the help of Cambri, all brand and product teams can innovate in an iterative test-and-learn manner and be confident in bringing only purposeful and long-lasting brands, products, and services to market.
About Octopus Ventures
Octopus Ventures, part of Octopus Group, is one of the largest and most active venture capital investors in the UK and Europe. We're on a mission to invest in the people, ideas and industries that will change the world.
We back entrepreneurs ─ from the first cheque their business receives, right through to IPO. We manage £1.8bn and are investing in more than 200 businesses, focusing on the companies solving three of the world's biggest problems: those building a sustainable planet, empowering people, and revitalising healthcare.
We know what it takes to build a successful business. We support founders through our strong teams, sector expertise and deep networks, using our people and talent to help them build a better tomorrow.
About S4S Ventures
S4S Ventures is a venture capital firm that invests in early-stage companies focused on transforming the Marketing and Advertising sector through digital innovation. The firm focuses on four principal areas: Martech, Adtech, Data Technology, and Creative Technology/AI. Its investment portfolio includes companies providing solutions for programmatic advertising, data warehousing, content development, and artificial intelligence. The team at S4S provides strategic guidance and operational support to their portfolio companies to ensure they have the resources they need to succeed. S4S Ventures believes in the power of technology to transform the marketing and advertising sector and is passionate about supporting startups that are driving innovation and change. www.s4sventures.com
For more information contact:
Inkhouse for S4S Ventures
[email protected]
Dani Kamras, Co-Founder of Cambri
[email protected]
+46 709 131 646
SOURCE Cambri
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article