Growth Intelligence secures £1.7m from 24Haymarket and MMC Ventures to scale its artificial intelligence platform
The funding round was backed by 24Haymarket and MMC Ventures to support product development and team expansion.
Growth Intelligence provides a predictive marketing platform that uses web-scale data and artificial intelligence to identify prospective clients for business-to-business corporate customers.
Growth Intelligence has secured £1.7m in funding from 24Haymarket and MMC Ventures to develop its artificial intelligence platform and expand its headcount. The London-based company achieved profitability in early 2018 and has experienced consecutive years of triple-digit recurring revenue growth.
The newly acquired capital will be directed towards enhancing the platform's capabilities and scaling up engineering, data science, and commercial talent. The business anticipates sustained high growth through 2019 as demand for predictive sales and marketing tools increases.
Leadership appointments accompany the investment, with Andy Robertson and Martin Brown joining the board alongside new chairman Stuart Dawson.
From the founder
"This is a great opportunity to invest on top of our triple-digit revenue growth. Trade is the human super-power, by applying AI to boost trade we are helping companies and economies grow faster. We’re hiring!"
Thomas Gatten
Founder at Growth Intelligence
Investor perspective
"24Haymarket are thrilled to invest in Growth Intelligence. We have been tracking the company’s progress and its unique approach to improving the productivity of B2B sales and marketing processes for two years. There is an exciting market opportunity ahead of them, as businesses embrace functional AI offerings. We look forward to applying our network to support the team on the next phase of their growth journey."
Paul Tselentis
CEO, 24Haymarket
Use of funds
- 01Continue product development
- 02Grow the team
Investors
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About the company
Growth Intelligence
Growth Intelligence develops predictive marketing software that identifies prospective clients for business customers.