London-based market research firm GlobalWebIndex has raised $40m (£30.4m) series A first round from Stripes Group, a New York growth fund that has previously backed the likes of Refinery29, Grubhub and Udemy.
Founded in 2009, GlobalWebIndex has consistently doubled its headcount and revenues year on year without seeking any outside funding, and includes the likes of Snapchat, Spotify, Google and WPP among its clientele.
The company conducts market research to provide consumer insights to clients across 44 countries, utilising its panel of more than 22m consumers worldwide to gain data on their behaviours and perceptions on the internet.
Additionally, it will often conduct research on the activity of marketing companies or brands themselves. A recent feature in City A.M. used data provided by GlobalWebIndex to analyse commercial behaviour of companies during the World Cup.
Read more: Brands bought it home: A post-match analysis of World Cup advertising
Today's funding will enable the firm to develop new technology for data collection, and expand its reach across borders with new offices planned in the American and Asian-Pacific regions.
"Weve built our leadership position by delivering audience data to marketers that is accurate, massive in scale, fully opted-in and rapidly delivered," said Tom Smith, founder and CEO of GlobalWebIndex.
"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."
Read more: UK tops the charts in second quarter for venture capital funding in Europe
Ron Shah, a partner at Stripes Group and new member of GlobalWebIndexs board of directors, said: "We are thrilled to be partnering as GlobalWebIndex continues to expand its efforts in the U.S., Asia and beyond.
"The founders 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 companys technology, product design, transparency and data quality."
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