Embedded AI agent platform Mindset AI has raised £4.3m in funding to expand its operations in the UK and open a US office in Chicago.
The London-based firm, which was founded in 2019 by the team that successfully built and exited Workshare, saw the funding round jointly led by Edge VC and Pembroke VCT, with participation from existing investors.
Prior to this round, it had raised £3.8m from Mercia and angel investors.
The company enables SaaS companies to build and embed AI features in their products without starting from scratch.
It allows these companies to create user-friendly AI agents that chat using natural language, turning their content, expertise, and intellectual property into effective AI features.
Mindset AI has experienced substantial growth, achieving a remarkable 120% increase in revenue year-on-year and reaching a landmark milestone of £1m ARR in October 2024.
The company’s agents now operate within over 2,700 businesses and it was named one of Sifted’s ‘top 50 generative AI startups in Europe to watch’ in 2024.
The investment will also support the development of Mindset AI’s natural language programming interface, expand its APIs, SDKs, and no-code tools, and scale its go-to-market efforts.
“As AI evolves, so does the gap between businesses adopting it and those being left behind. AI talent is in short supply, and costs are high,” said Barrie Hadfield, CEO & co-founder of Mindset AI.
“Companies need solutions that let them deploy AI agents without heavy investment in AI teams or long development cycles. We’re making AI agent creation as easy as writing a Google Doc, so that SaaS companies can embed AI without friction.”
Fred Ursell, investment director of Pembroke Investment Managers, added: “Mindset AI is redefining how learning and development businesses present and monetise their content through AI-powered conversational agents.
“With an experienced and exited founder, strong SaaS business model fundamentals, and a clear path to growth, we’re excited to back Barrie and the team as they scale.
“Mindset AI has the potential to transform the way enterprises leverage their content, and we look forward to supporting their journey.”