Forestreet

Forestreet Ltd. operates as a business-to-business Software-as-a-Service (SaaS) company, providing a sophisticated platform for market and vendor discovery. The firm was established in London, United Kingdom, on January 18, 2017, by co-founders David Doyle and Alex Miller. The impetus for the company's creation stemmed from the founders' observation that traditional market intelligence methods, such as analyst reports and basic database searches, were inefficient and often biased.

David Doyle, who serves as CEO, has a background that includes prominent roles at PwC, Capgemini Consulting, and CSC Consulting, specializing in business analytics and finance transformation. His co-founder, Alex Miller, also has a background with major firms like Octopus and Lloyds Banking Group. Together, they envisioned an AI-driven solution to automate and democratize the research process. The company has secured significant funding, including a Series A round of $3.63 million on March 23, 2022, led by Guinness Global Investors and WhiteHorse Capital. More recently, in June 2024, Forestreet received a strategic investment from Beroe, a procurement intelligence firm, which also resulted in Beroe's CEO joining Forestreet's board.

The core of Forestreet's business is its AI-powered platform that maps and analyzes entire markets down to the individual product feature level. This service is designed for procurement professionals, category managers, and strategy teams within large corporations, consultancies, and private equity funds. Clients, which include three of the 'Big Four' consultancies and major corporations like PepsiCo and BP, utilize the platform for supplier discovery, competitive intelligence, and M&A target identification. The business model is subscription-based, offering access to its comprehensive data and analytics tools. The platform distinguishes itself by providing real-time, unbiased data, free from sponsored content or marketing influence, which allows users to identify a broader and more relevant set of vendors than traditional methods.

Forestreet's platform offers several key features. The 'Market Explorer' tool uses AI to map complex markets, while 'Rapid Review' accelerates the research process. The system enriches company profiles with data points like funding, revenue, and location, and uses momentum scores to indicate a company's market trajectory. It also includes an ESG (Environmental, Social, and Governance) dashboard that analyzes performance based on news and other data sources. By automating the discovery process, the platform enables procurement teams to de-risk their supply base, make faster, data-driven decisions, and identify new opportunities for growth. As a certified B Corporation, Forestreet is also committed to ethical business practices and environmental responsibility.

Keywords: market discovery, vendor discovery, procurement intelligence, supplier discovery, SaaS, artificial intelligence, market mapping, competitive intelligence, category management, M&A targeting, supply chain risk management, data-driven procurement, B2B software, spend analysis, strategic sourcing, ESG analysis, procurement technology, automated research, financial services procurement, consultancy procurement