Bolt Insight said that the investment would be used to develop new products, employ a greater number of staff in its research and commercial teams, and expansion into additional markets.

The research technology company was launched in January 2020, and currently works in more than 120 countries with clients including Vodafone, Premier Foods, Diageo, L’Oreal and Samsung.

Ester Marchetti, co-founder of Bolt Insight and formerly of Unilever, Reckitt and Nielsen, said: “The UK market, a key hub both in terms of company headquarters and market research innovation, was crucial in finding early adopters of our disruptive methodology in what has been a largely traditional area: market research.  

“Our behavioural targeting-based methodology and unparalleled access to consumers fuels our vision to give brand marketeers a virtual seat next to their customers, so that they can co-create with them, and reflect what audiences want in their strategy, innovation and communications.” 

Ali Karabey, founder and managing director at 212, who will join the Bolt Insight board, said: “We are convinced by the Bolt Insight team’s ability to dramatically transform the quantitative market research space, enabling companies to collaboratively and openly develop their products to address users’ wants and needs better.”