AI software pioneers dig deep to attract funds
A START-UP specialising in artificial intelligence software has closed an £800,000 equity funding round.
It brings the total funding secured by Amplyfi in the past four months to £1.2m.
Finance Wales led the round, with additional private investment from some of the UK’s most successful investors including Ashley Cooper, co-founder and director of Catalyst Growth Partners.
Amplyfi’s flagship product, DataVoyant, combines surface and deep web harvesting, artificial intelligence and data visualisation within a single user-friendly platform.
As a tool designed to support strategic decision-making, DataVoyant promises to deliver infinitely repeatable insight while significantly reducing intelligence acquisition costs.
It has been used in areas such as competitor intelligence, investment optimisation and M&A targeting by some of the world’s largest companies in sectors spanning aerospace and defence, banking, energy, insurance, private equity and professional services.
This second equity round follows an initial investment from Finance Wales last August and a recent £400,000 unsecured loan from the Welsh Government, which is enabling Amplyfi to expand its programming team.
Chris Ganje (CEO) and Mark Woods (CTO) have both been named in The Sunday Times 2017 Maserati 100, the top 100 list of British disruptor entrepreneurs.
Amplyfi was also recently featured in the Tech Nation 2017 report and identified as a top 100 artificial intelligence firm globally by AI Business.
Mr Ganje said: “The future of business intelligence lies in delivering high-performance, easy-to-use solutions driven by the most advanced artificial intelligence capability.
“Amplyfi’s next-generation architecture has been purpose-built to address this challenge. This latest round of funding will allow us to continue our exponential growth to meet the needs of our rapidly growing client base.”
Philip Barnes, investment executive for Finance Wales’ Technology Venture Investments, added: “Amplyfi is a superbly managed company, with a team of high-class artificial intelligence and strategy experts. [Its] strong potential for significant growth and profitability made it a perfect fit for our portfolio.”