Tussell, a London, UK-based provider of a tech government procurement platform for businesses of all sizes, completed a £1M seed funding.
The round values the company at £5M.
Backers included Lord Young of Graffham, Mike Soutar, Tim Ewington, Donal Smith, and Duncan Calam, who all invested in their private capacity.
The company will use the funds to consolidate their position and continue to grow the business.
Founded in 2015 by Gus Tugendhat, Tussell turns open data into useful data to increase the visibility of government contracts, and equip businesses with market insight to make informed bidding decisions and spot commercial opportunities within public procurement.
The company is working with such clients as EY, Lloyds bank, Action For Children, Morgan Stanley, Towergate, Bain & Company and the Royal College of Physicians.