Bubo.AI secures £500k seed follow-on investment led by Mercia to scale its pricing software
The Middlesbrough pricing software developer has raised further backing from the Northern Powerhouse Investment Fund.
Bubo.AI provides AI-driven pricing software that analyses customer behaviour and perceived value to recommend optimum pricing models. The Middlesbrough-based firm helps businesses with complex pricing structures increase their net profits.
Bubo.AI has secured £500k in a seed follow-on funding round led by Mercia through the Northern Powerhouse Investment Fund. The Middlesbrough-based software provider will use the capital to maintain its edge in artificial intelligence and pursue global market leadership.
The latest injection follows a previous £500k round from the same backer last year. Since then, the company has attracted multinational clients including Tarmac and various automotive and medical firms, supported by a nine-strong team planning to add ten new roles.
From the founder
"Bubo.AI is the only AI-driven pricing software that takes the perceived value to customers into account. We have been delighted by the awards and other recognition we have received so far. This funding will allow us to maintain our position at the leading edge of AI and establish the software as the world leader in its field."
Alan Timothy
CEO at Bubo.AI
Investor perspective
"Bubo.AI could help companies to revolutionise their approach to pricing and transform their profitability. Alan and the team are pioneering new levels of sophistication in pricing software. We are pleased to continue to support them as they build their reputation and their global client base."
Simon Crabtree
Investment Manager, Mercia
Use of funds
- 01Grow the team
- 02Fund research and development
- 03Expand into international markets
