The funding is made up of £5m from BGF with added investment from DSW Ventures, the venture capital arm of Dow Schofield Watts.

The Insights Family was formed in 2017 by Nick Richardson to focus on understanding the behaviours of young people and their families and operates across 22 countries.

Richardson said: “We have achieved a lot in a relatively short period but having the support of BGF will enable us to significantly accelerate all parts of our business and to firmly establish ourselves as the global leader in the next generation of market intelligence on the next generation of consumers.

“Having the backing of an experienced investor such as BGF, is an exciting validation of our commitment to reaching this goal.”

Tom Williams, chief executive at The Insights Family, added: “Our impressive customer portfolio is continually expanding, and with the additional strategic and financial support from BGF, we’re poised to amplify our growth even further in 2024.”

The investment was led by Rhys Davenport and Courtney Walker, investors from BGF’s northwest of England team.

Davenport said: “The Insights Family has emerged as a global authority in market intelligence for kids, teens, parents, and families.

“We are thrilled to support another outstanding northwest business and look forward to collaborating with the team on this next phase of growth.”