The Series A round was led by Octopus Ventures with backing from angels and institutional investors.
"Before we built Definely, lawyers that needed to access information and understand contracts would use Ctrl+F keys, multiple windows, scroll through hundreds of pages, or simply print out documents so that they could reference all the information in one place. As someone who is visually impaired, you can imagine the challenge this represented for me."
The pre-seed round was led by Act VC to support platform development and team expansion.
"We believe that every factory, regardless of size or location, should have access to the transformative power of AI. We want to give every factory an AI Data Analyst trained in that unique environment. We are democratising applied AI and levelling the playing field for sustainable manufacturers around the world."
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 funding round was backed by the West Midlands Co-Investment Fund, Ecotricity, and prominent business angels.
"I led on the establishment of West Midlands Co-Investment Fund because SMEs are the lifeblood of our regional economy and it's clear we must improve their access to finance to support their growth journey. These local businesses will help continue our region's recovery and I cannot wait to see them succeed. I'm delighted that 'You. Smart. Thing.' has become yet another business to benefit from this new fund, and I'm confident this investment will help the business reach more clients and build on the success it has already achieved."