Ribbon, a London startup building an in-product research platform, has grabbed £2.63 million in seed funding. The financing round was led by Octopus Ventures (which backed Intigriti, Delio, and Touchlab, among others) alongside participation from earlier backers MMC Ventures and Concept Ventures.
Angel investors also joining the seed round include Matt Robinson (founder of GoCardless and Nested), Keith Grose (Head of UK at Plaid), Ross Sheil (SVP Global Revenue at Infogrid) and Felix Leuschner (Group Business Development Director at Cazoo).
The investment will enable Ribbon to continue building out its product research platform and the suite of features they offer to product and user research teams. The funding will also help grow the team. In addition to this, Ribbon has also launched In-Product Surveys, a new tool that allows user and product research teams to gather user feedback asynchronously directly within their software products.
The launch of In-Product Surveys enables user research and product teams to continuously test ideas and collect feedback by sending out short surveys to targeted points across their user journeys. In-Product Surveys, which comes with a rich set of templates, adds to the existing research platform, which now lets customers mix asynchronous research methods like surveys with more in-depth synchronous forms of user research like real-time video user interviews.
Founder of Ribbon, Axel Thomson, said, “This funding is a huge step forward for the Ribbon team. It enables us to grow the team, continue to expand our platform and streamline how product and user research is done. We want to empower companies to build great products by making it easy to make informed product decisions. Democratising access to product research through easy-to-use and powerful tooling plays an important part in that process.”
Karan Mehta, Investor at Octopus Ventures commented, “Ribbon is offering consumer-facing companies a pioneering way of generating in-context, synchronous and asynchronous user feedback at scale. As investors, we know that the best companies are built on consumer demand and win in the long run by adapting to their users. Ribbon enables companies to gain this advantage by making it easy to continuously make better product decisions backed by targeted research. We are so excited to be backing Axel and his team as they build out Ribbon. Not only does Axel have experience across research and software engineering, but he’s experienced the difficulty of embedding product research in the software development cycle firsthand as a Product Manager.”
All-in-one user research platform
Ribbon was founded by Axel Thomson, a former product manager at UK recipe-box subscription unicorn Gousto in 2020 in London. It is a user research platform that provides an all-in-one place for user and product research teams to do research and product discovery with their users. It helps user research and product teams understand their customers’ behaviour and experiences.
Ribbon’s customers can run studies like video interviews and in-product surveys which are deployed to active users based on product interactions and user behaviors, enabling them to continuously undertake product research to validate product decisions and build better user experiences.
With Ribbon, it now takes software product companies minutes rather than days to start collecting continual feedback to better tailor their products and services to their customers’ needs.