DigitalBridge secures £3m Series A funding from Maven to expand its design platform.
Maven Capital Partners led the round to support new product development and expansion into the US.
DigitalBridge provides a guided design platform that uses artificial intelligence and computer vision to help kitchen and bathroom retailers improve online engagement and sales. The Manchester-based firm works with major retailers to simplify the customer design process from concept to completion.
DigitalBridge has secured £3m in a Series A funding round led by Maven Capital Partners. The financing comprises a £1.5m investment from Maven Venture Capital Trusts alongside a further £1.5m from the NPIF Maven Equity Finance regional development fund.
Headquartered in Manchester, the company has developed artificial intelligence technology that guides consumers through designing kitchens and bathrooms. The capital will be deployed to expand its platform rollout, create 15 new jobs, develop new products and drive international expansion into the United States market.
From the founder
"Consumer buying behaviour has fundamentally changed, especially online as e-commerce now accounts for 15 percent of all retail purchases, according to Mary Meeker’s Future of the Internet. People are doing most of their research online and are being inspired by what they see. Bathrooms and kitchens still require a lot of face-to-face time and store visits, however, so DigitalBridge uses AI and Computer vision to guide consumers through the complex and confusing journey of designing their dream bathroom or kitchen."
David Levine
CEO at DigitalBridge
Investor perspective
"The team at DigitalBridge have developed a market-leading AI product which solves a genuine problem for retailers by better engaging with their customers online. The considerable traction they have seen proves they’re enabling retailers to increase conversions, shorten sales cycles and increase order values."
Jeremy Thompson
Investment Director, Maven Capital Partners
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
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About the company
DigitalBridge
DigitalBridge provides a guided design platform for kitchen and bathroom retailers.