Manchester-based product testing platform Vypr has received £3.4m in funding to continue product development.
Businesses use Vypr to get feedback on their product design, such as packaging and menus, from a community of 65,000 reviewers.
Richard Law, Chairman of Vypr, said: “Vypr is reaching out to the nascent market in real-time to get the information and insights companies need to make the right and most profitable decisions about what new products and offers to develop and when to launch them.”
Iceland, CooperativeKFC, Leon and Ella’s Kitchen are all users of the platform.
The company recently appointed Kevin Baldwin as CEO, Chris Williams as CFO and Adam Warburton as CEO.
“We’ve been very impressed with the power of the Vypr platform and how fast and reliable consumer-validated information helps clients streamline their product analysis processes and reduce waste and costs,” said Steve Harrison, partner at YFM Equity Partners.
YFM Equity Partners invested £3m, with the remainder coming from Vypr’s management team, existing shareholders and Law.
The company has raised £5.5m in funding to date, according to Dealroom.
Kevin Baldwin, CEO of Vypr, said: “We are delighted that YFM has continued its investment in 2021 to help us achieve our ambitious growth plan over the next few years.”
