The London maintenance software company secured the grant from an Innovate UK fund established in response to the pandemic.
"We’re grateful to receive backing and funding from Innovate UK as we expand our offering in the UK social and health care space. The funding will be a huge boost specifically to help us to develop our COVID-safe virtual reporting features, which we’ve been developing in partnership with our customers."
Fuel Ventures led the Series A round to help the expert knowledge platform scale its operations.
"Having the right information gives you a competitive edge but the typical means of engaging with experts through one hour calls alone is failing to deliver value. These interviews are usually held by a single department and their findings end up lost in PowerPoint presentations or reports. Therefore, companies are only building up a short-term view. We are bringing innovation to the ways companies are working with external experts by using groundbreaking technology to, not just build expertise within organizations, but deliver it in ways that are digestible, searchable and, most importantly, usable for the months and years ahead across different departments."
The seed round was backed by Trucks Venture Capital, Luminous Ventures and Jaguar Land Rover.
"AI has huge implications for the way businesses operate, yet so much of the modelling is done in carefully controlled test environments. When deployed in real world situations, anomalies always occur, which disrupts lab-grown models and undermines companies’ efforts to revolutionise how they use autonomous systems effectively. By scaling edge AI, optimising the endpoints collecting the data, and making models more resilient, we are radically accelerating learning and, in doing so, giving our customers a competitive advantage in a crowded marketplace."
The financing round was led by AXA Venture Partners with participation from Swisscom Ventures, Investiere and VentureFounders.
"This is great news for us as we continue to thrive. This funding round marks the continued recognition of the strength of our team as we are now one of the biggest go-to-market data providers in Europe."
Notion Capital led the seed investment, which will accelerate product development.
"We believe the Easol team has developed an incredible solution which has become the go-to platform for the world’s best experience creators who are passionate about the experience they deliver every day and not just selling things. Ben’s and Lisa’s deep domain expertise has already translated into rapid commercial growth with high demand that this round will support with more resources in product, marketing, sales and increasing the company’s global footprint. It’s rare for a company at their stage to have such strong signs of product-market fit. In fact, their SaaS metrics are some of the best we’ve ever seen."