Cambridge-based techspert.io, an AI technology innovator that connects businesses with experts for domain-specific industry insights, has secured $12M (€10.3M) in a round of funding led by BGF and existing investors Nauta Capital, a Pan-European Venture Capital firm.
With the amount of data, information and misinformation increasing day by day on the internet, getting right and actionable insights, although vital, is becoming increasingly difficult.
Founded in 2016 by Graham Mills and David Holden-White, techspert.io uses AI and Machine Learning to help companies in this field.
“We founded techspert.io after experiencing the pain points and inefficiencies in connecting to experts for product development and investment needs in the healthcare sector. We’ve made great progress developing a platform that delivers value for both customers and experts and we are excited for the next phase of growth,” says Holden-White, who is also the CEO of the company.
Fund utilisation
The company claims it will use the funds to transform it’s platform and introduce new expertise verticals such as consumer goods, technology, media, and telecommunications. It will also allow customers to receive instant expert recommendations.
An expansion of the company’s international project management and business development teams is also on the cards.
Last year, the company had raised $5.1M (€4.39M) in a Series A funding round, while in 2018, it had secured $1.3M(€1.1M) in funding.
Seeing constant growth
Techspert.io claims to have achieved a growth of 150% year-over-year. The company opened a new office in Houston, Texas, the US, and its team grew to more than 50 people.
In the last year alone, the company claims to have added customers from the healthcare, investment, private equity, advertising, consultancy, and corporate sectors.
It has also expanded its offerings into the energy and industrial industry.
About BGF
BGF was founded in 2011 and claims to have invested over £2.5B(€2.9B) in more than 400 businesses.
Through its network of 16 offices, BGF invests in businesses in the United Kingdom and Ireland.
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