The funding round was facilitated by Envestors and drew participation from 62 private investors and funds.
"Our platform takes away a huge amount of admin for entrepreneurs who are juggling a fundraise alongside the daily trials of running a growing business,"
ScaleUp Capital led the growth private equity investment to support product development and audience expansion.
"Rungway’s solution provides its customers with a transformative level of insight into their organisation’s culture. We at ScaleUp Capital are hugely impressed by the team, the technology, and the opportunity to grow into a rapidly evolving HR technology market."
YFM Equity Partners backed the text analytics platform through its managed British Smaller Companies Vcts.
"With an ever-increasing amount of data available to businesses, many are struggling to make sense of this valuable information. This can prove vital in understanding what is causing business outcomes, and what can be done to change them. Our platform is able to rapidly analyse millions of words and compare them across a range of variables to highlight the critical differences in consumer language, helping to explain market trends, customer behaviour and provide actionable insight including making communication more effective with target audiences."