Sumeru Equity Partners has made a strategic investment in Zappi


Founded in 2012 by market research industry veterans, with offices in Boston, London, Toronto and Cape Town, South Africa, Zappi is the leading consumer insights platform for creators – the insights professionals, marketers and product innovators that bring fresh, new ideas to life. More than 350 of the world’s largest and most respected brands; such as PepsiCo, McDonald’s, Heineken, Reckitt, Colgate-Palmolive, SoFi, Mars and Diageo; use the Zappi platform to better understand customers and validate, inform and inspire ads, products and experiences before they go to market with pre-launch data. Zappi was recognized as one of the hottest marketing technology (martech) companies in 2022 by Business Insider.

The Deal

Zappi raised capital from Sumeru Equity Partners to empower enterprise creators with agile market research. The investment from Sumeru follows years of strong momentum for Zappi and an expansion of its team to more than 300 people in 13 countries. Zappi has a bold vision for the transformation of consumer insights in which 97% of the market research industry is operating in antiquated, primarily analog methodologies controlled by incumbent service providers that struggle to meet the rapidly changing needs of creators. Zappi is driving innovation in this century-old industry with a platform that acts as a single source of truth for the modern enterprise, where creators have the right insights to inform every decision. Lincoln International’s expertise and deep experience in the research, insights and martech sectors were essential to the transaction’s success.

Our Perspective

Chris Cavanaugh, Managing Director in Lincoln’s Technology, Media & Telecom (TMT) Group, commented, “We are incredibly proud to have represented Sumeru on its strategic investment in Zappi. This transaction is emblematic of Lincoln’s TMT Group’s focus on supporting long-term relationships with its deep expertise in markets undergoing disruption and digital transformation, such as consumer insights and data analytics. Sumeru’s successful track record in scaling high-growth enterprise Software as a Service (SaaS) companies makes it the ideal partner to help Zappi achieve its ambitious vision. Today’s enterprises need to surface timely actionable insights to drive innovation and effective advertising decisions with increasing speed and efficiency, which the industry has been slow to address. Sumeru and Zappi together are well positioned to capitalize on this exciting opportunity.”


Sumeru provides growth capital at the intersection of people and innovative technology. Sumeru seeks to embolden innovative founders and management teams with capital and a scaling partnership. Sumeru’s portfolio includes leading growth-stage companies in sectors ranging from enterprise and vertical SaaS applications, data analytics and education technology to infrastructure software and cybersecurity. The firm typically invests in North America and Europe. For more information, please visit

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