Growth Intelligence, a London, UK-based platform for marketers and sales leaders to grow faster through AI, closed a £1.7m funding round.
The round was led by 24Haymarket with participation from existing investors including MMC Ventures.
The company intends to use the funds to invest in its AI Platform – building new AIs to solve additional challenges faced by B2B marketers, and in data science, engineering and commercial talent.
Founded in 2013 and led by Thomas Gatten, CEO, Growth Intelligence allows high profile brands to leverage data science and machine learning to predict demand and purchasing behaviour. The AI platform combines records of a client’s previous successful and unsuccessful marketing attempts with its own proprietary data gathered from the digital footprint of every company in the economy, to train an AI for each client. The AI then serves up recommended future clients and advice on how to approach them. It allows sales and marketing teams know who will buy, who will be most valuable, when should they attempt to contact them and what to say when they do.
The company, which serves large companies such as American Express, FedEx, Western Union, iZettle and Vitality Health, reached profitability early in 2018 and has tripled recurring revenue year on year.
As part of the investment, joining the Board are Andy Robertson, Martin Brown and Stuart Dawson as the chairman.