The investment is the company’s first outside funding and will boost its plans for international expansion in the US and Asia, and aid product development.

Founded in 2009, the London-based company has a panel of 22 million consumers across 44 countries, with clients including Google, Spotify, WPP, IPG and Omnicom Group. It will use the funding to expand the reach of the survey across new countries and introduce new technology to its data collection process.

The company also plans to launch more offices across the Americas and Asia Pacific regions, following the recent opening of locations in New York and Los Angeles.

Tom Smith, founder and chief executive of GlobalWebIndex, said: “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.” 

As part of the partnership, Ron Shah, a partner at Stripes Group, has joined GlobalWebIndex’s board of directors.

Shah said: “The company 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 company’s industry-leading technology, product design, transparency and data quality.”