The £6m Series B investment was backed by Gresham House Ventures and existing investor Mercia Asset Management.
"We have spent a long time looking at automation within professional and financial services. While the legal world has arguably been a late adopter of technology, firms are realising that automation is essential to driving both cost efficiency and resilience across distributed workforces. In Clarilis we have found an ambitious business with a market-leading solution and exceptional customer satisfaction as a result of its fully managed service. It exemplifies the type of technology-driven and scalable business model that our investment team look for. We’ve been impressed by the impact that Clarilis has already had in the market and as the business expands, particularly into the South East Asian market, we are excited to be bringing our experience to bear and to help facilitate its growth."
The Series A round was led by Mercia alongside XTX Ventures to prepare the misinformation detection platform for the US elections.
"With the rise of the internet and social media, falsehoods travel faster than the truth. Misinformation can polarise societies and has become a serious threat to democracy. Logically aims to stop the spread of disinformation, ensure people see both sides of the story and keep elections free and fair. Following on from our early successes in India and Europe, we are looking to establish Logically as a partner for governments, businesses and consumers around the world."
The Middlesbrough-based pricing platform secured the seed capital from Mercia and private investors to fund international expansion.
"Pricing has previously appeared like a dark art, and traditional approaches are problematic and not very effective. Trying to price match with competitors can lead to price erosion, especially in a downturn, while sales staff often resort to discounting to meet targets."
The funding round was led by Mercia and will support product development and team expansion.
"With 3.5 billion smartphones worldwide, mobile apps are an effective way for public and private sector businesses to roll out their services to a wide audience. Nutshell makes mobile app development easy and will help businesses large and small to drive innovation and growth."
The follow-on investment from existing backers will support the expansion of the company's current facilities.
"OXGENE has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team here, but also to the strength of our automation platform, and our focussed, but flexible, approach to business and technology development."
