Source: MIL-OSI Submissions
Data and insights platform Yabble has successfully closed a second capital raise totalling NZ$3M, thanks to exceptional support from existing investors. With this new round of funding, Yabble looks to expand the business both in depth of offering and in geography, moving into the Australian market ahead of launching in the United States.
CEO Kathryn Topp describes raising in a nationwide lockdown as very different to the first time around. “Our momentum over the last 12 months made this raise very easy by comparison, with our existing shareholders oversubscribing the round in record time.”
Yabble’s expansion is led by its world-leading AI insights product, Hey Yabble, which helps businesses turn thousands of pieces of unstructured data into actionable insights in mere minutes. Using a combination of proprietary and leading-edge technology, Hey Yabble harnesses the power of machine learning and natural language processing and understanding to generate precise insights that businesses can use to drive growth and improvement.
Having led Yabble’s first capital raise in 2020, Hillfarrance Managing Partner Rob Vickery commented, “We were delighted to lead this next round of investment into what we believe is Aotearoa New Zealand’s leading AI-driven platform for insights. Kathryn, Rachel, and the rest of the team at Yabble are using this capital to conquer new markets, pioneer new technologies, and grow their global workforce. This is what good startup venture capital is all about.”
Joining Hillfarrance in following on from that first capital raise are other leading New Zealand investors including Movac, New Zealand Growth Capital Partners, Enterprise Angels, other Angel networks, and high-net-worth individuals.
“We’re excited to support Yabble in its latest funding round, which aims to roll out the new AI-based insights tool Hey Yabble,” says Movac Partner David Beard. “The company is getting significant interest from within New Zealand and overseas, which provides strong evidence of customer demand. This funding will allow Yabble to expand further into Australia and the USA as it looks to grow its offshore customer base. Kathryn and Rachel have a fantastic vision and drive for the future of Yabble, and we look forward to continuing to support them as the company grows.”
In the last 12 months, Yabble has used its capital wisely in the lead-up to entering the lucrative US $72B insights and research market. The business has tripled the size of its product and engineering teams, received support from Callaghan Innovation to accelerate R&D, released Hey Yabble into open beta, and appointed Yabble’s first US-based employee.
“I couldn’t be prouder of the Yabble team,” Kathryn says. “In a year of extreme global disruption, we’ve shown how our clear vision and relentless focus can turn into the release of world-leading AI products like Hey Yabble. We’re excited for the year ahead.”
About Hey Yabble
A world-leading AI-powered insights generator, Hey Yabble uses cutting-edge proprietary technology to synthesise fresh insights from your data, delivering results instantaneously. Simply select the data you’d like to glean insights from, craft your query, and Hey Yabble will do the heavy lifting for you — connecting you to Yabble’s agile insights platform and pulling open-ended results from its surveys. It’s automated insights at the click of a button.