Distil secures £400k in seed funding from Mercia for product and market expansion
Mercia backed the seed round to support product development and commercial growth.
Distil operates a software platform that aggregates disparate business data into a centralised customer view to help firms identify buying signals. The Exeter based business serves clients such as Crowdcube and the Eden Project.
Distil has secured £400k in seed funding from Mercia to support product development and commercial expansion. The capital will allow the company to refine its customer data platform and scale sales operations.
Founded in Exeter by Gerry McNicol, the firm provides software that centralises behavioral data and customer insights. Mercia backed the round through its EIS funds, adding to Distil's existing commercial momentum.
From the founder
"We’re on a mission to help businesses transform their data from an expensive, time-consuming challenge into a powerful goal-achieving asset. In Mercia we have found the perfect partner to expand our product and accelerate the growth for Distil and its customers."
Gerry McNicol
CEO at Distil
Investor perspective
"In most companies, customer data is scattered across different channels and tools, yet it holds valuable insights that are critical to business success. Distil uses sophisticated AI to bring all the data together and give businesses a 360-degree view of clients’ spending patterns, buying signals and behavioural traits."
Kiran Mehta
Investment Manager, Mercia
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
