Prodsight raises £400k in pre-seed funding led by Techstart Ventures to expand its customer feedback analysis platform
The pre-seed round was led by Techstart Ventures and will support team expansion and product integrations.
Prodsight provides an artificial intelligence platform that analyses customer conversations to help businesses track issues and reduce churn. The company serves clients across Europe and the United States.
Prodsight has secured £400k in a pre-seed funding round led by Techstart Ventures, with participation from TrueSight Ventures and private investors. The company also drew on grant backing from The Royal Society of Edinburgh and Scottish Enterprise, bringing its total pre-seed funding past £600k.
Established in March 2019, the business uses artificial intelligence to scan customer feedback channels, helping teams identify recurring issues and prioritise product improvements. The new capital will be directed towards expanding its remote workforce across London, Edinburgh and Gdańsk, alongside broadening its software integrations.
The firm has already gained traction with international clients such as Brand24 and Code for America. Chief executive Tadas Labudis noted that the fresh capital will support growth efforts through 2020 and beyond.
Investor perspective
"Most companies are sitting on a growing pile of crucial customer feedback, but they lack the tools to actually make sense of it. We love that Prodsight unlocks this trapped value for customers by extracting actionable insights from customer feedback channels, allowing users to make the product changes that will matter the most."
Mark Hogarth
Partner, Techstart Ventures
Use of funds
- 01Grow the team
