Vypr, a Manchester-based business, is embarking on a significant expansion into the US market, aiming to quadruple its size.
- The company plans to increase its workforce by 100 as part of this ambitious growth strategy.
- Vypr has already achieved notable success, working with leading brands and quadrupling its revenue since 2021.
- The company leverages a “digital community” of 70,000 for product development and refinement.
- Vypr’s innovative use of behavioural science in market research sets it apart in the fast-moving consumer goods sector.
Vypr, a company rooted in Manchester, is setting its sights on a major expansion into the American market, with aspirations to increase its scale fourfold. Such growth involves the creation of 100 new jobs, reflecting its ambitious outlook.
Vypr’s success story is already well-established, having collaborated with big names in the industry like Kraft Heinz and Starbucks. The company’s revenues have seen a fourfold increase since securing investment from YFM Equity Partners in 2021, reaching £5 million in annual recurring revenue.
Central to Vypr’s strategy is its ‘product intelligence’ platform, which utilises a 70,000-strong ‘digital community’ across the UK, France, and Germany. This platform empowers brands to engage with target audiences for product development and refinements.
CEO Chris Williams is confident that the experience gained in various fast-moving consumer goods sectors in the UK will facilitate Vypr’s international growth. He envisions leveraging existing relationships with corporate clients to boost Vypr’s presence and credibility in the United States.
Initially, Vypr’s UK-based team will manage the US expansion, with plans to hire locally in the near future. The firm aims to grow its staff from 60 to 200 within four years, with up to 40 new hires in international locations, primarily the US.
Williams highlights the innovative approach of Vypr, describing it as a ‘new age’ method for conducting focus groups by incorporating behavioural science techniques. The app’s gamification appeal is integral, offering a quick and engaging way for users to participate in market research while maintaining high retention rates.
Vypr’s US expansion marks a pivotal step towards establishing itself as a global leader in product intelligence.
