The oversubscribed EIS round will fund team expansion and international growth.
"It has been a pleasure to work with Gayle and her supportive team, and the success of our collaboration has been well illustrated with an oversubscribed investment round. Raising investment in today’s markets, for Companies at a similar stage in their development and investment cycle, is extremely difficult. Having the backing of Wealth Club and our existing investors provides the Company with a great deal of confidence, as we head into our growth stage. The success of this round will provide working capital for the Company to invest in revenue growth across our sectors, in addition to investing in our technology and platforms to scale and service our existing clients and an already healthy new business pipeline."
The financing round includes participation from GSR Ventures and Citi to fund international expansion and product rollout.
"A new investment of this size, which comes from a mixture of VC funds and global banks, is a testament to the demand for and success of Abound and Render. It speaks to the confidence investors have in our business to keep growing and in our AI-powered technology to continue transforming consumer credit."
The financing round was backed by Bayland Capital and founding shareholder CN Innovations to accelerate product development and commercial expansion.
"We are seeing pivotal growth across our industry, whereby drug developers are increasingly recognising the potential of OOC technology to augment, supplement and optimize their workflows."
The funding extension comes alongside the appointment of new chief executive officer Kate Henningsen.
"Infogrid’s growth to date coincides with a transformative moment for the built world. The company’s technology future-proofs any building and delivers a solution not otherwise available in the market. I’ve made decarbonising the world the goal of my professional life and I’m thrilled to be joining Infogrid at this critical moment to help real estate organisations reduce their carbon footprint. As an industry, the built world now has a technology that can make an impact at scale, rather than addressing isolated issues. Climate is the problem of our generation to solve and by pursuing this opportunity, Infogrid has the potential to become a category-defining company."
