The funding round was led by AlbionVC with participation from Lightbird Ventures, Anamcara Capital and Triple Point Ventures.
"Companies are continuing to tighten their belts because of the economic climate and that means sales teams need to change how they fundamentally approach selling. We’re helping companies collaborate and centralise their buyer journey, increasing their sales efficiency and velocity. Our proprietary revenue intelligence signals are also helping revenue leaders forecast and understand their deal pipeline like never before. The new trend of buyer enablement is happening and we’re at the forefront of it. We’re delighted to be working with Paul and the team at Albion to support us as we expand to the US and integrate AI into the platform so we can continue to serve buyers and sellers."
The Series B round was led by Next47 with participation from Y Combinator, CRV, and Crane Venture Partners.
"In 10 years, every company will have an AI department in the same way that they have an IT department today or risk losing relevance, and Encord will be the only platform they need to accomplish the process of turning data into functional AI models,"
The Birmingham-based risk management company raised the capital to advance its AI platform and expand its team.
"I am pleased to see a unique West Midlands-based business that is focused on an industry of the future secure this investment. This is the sort of venture the West Midlands Co-Investment Fund was set up for. Large retailers are under pressure to improve their corporate social responsibility. Bendi has created a useful tool to detect malpractices and help companies deliver sustainable practices, improve community cohesion, and minimise carbon footprints."
— Richard Parker, Mayor of the West Midlands, and chair of the WMCA
K1 has taken a stake in Board Intelligence to support global expansion and product development.
"While we have always been a profitable business and did not need capital, we partnered with K1 for their operational expertise in accelerating investments in AI and scaling companies globally through organic and inorganic growth. K1 has a history of building category leaders and we’re excited to leverage their experience to strengthen our position globally."
The funding round was led by Puma Private Equity and will support the creation of a financial services-specific large language model.
"The financial Services industry does not need AI models that can quote Shakespeare, it needs AI models that deliver transparency, trust and above all correctness. The way to achieve this is to develop small, highly tuned language models, trained on financial services data, reviewed by financial services experts for specific financial services use cases."
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