An AI-powered market analysis agency which has counted Unilever and Vodafone amongst its shoppers is on the point of collapse.
Sources stated {that a} purchaser was being lined as much as take management of the enterprise within the coming days.
Streetbees’ impending collapse follows efforts to discover a solvent purchaser – in a course of additionally run by FRP – during the last couple of months.
Workers are understood to have been briefed on the insolvency submitting late final week.
Streetbees, which has additionally labored with Heineken, Ferrero and Avon, has raised tens of tens of millions of kilos in funding from blue-chip backers.
It raised a $40m Sequence B funding spherical from buyers together with Lakestar, LocalGlobe and GMG Ventures – the early-stage funding arm of Guardian Media Group – in 2020.
GMG Ventures has since rebranded as Mercuri.
A spokesperson for Streetbees stated: “Streetbees has engaged advisors to supervise a course of aiming to safe funding or promote the enterprise and its belongings.
“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 won’t remark additional on any market hypothesis.”
