Private UK equity firm Maven has completed a £2.5m investment to support software developer Filtered Technologies Limited.
Filtered provides AI-driven learning and development software to the corporate market, as well as training content to the corporate and retail markets.
The latest investment, which brings its total to nearly £4m, will be used to accelerate the London firm’s technological innovation and strengthen its customer success and sales teams as the business grows.
Founded in 2009, the firm was originally a provider of tailored Microsoft skills training courses, which it still operates under the brand Excel With Business (“EWB”).
More recently the firm has developed magpie, an intelligent learning recommendation engine and the main driver of the company’s anticipated growth.
magpie’s algorithm pulls together a client’s internal training materials, which it integrates with additional external materials to provide what it calls a personalised Learning and Development (“L&D”) resource for each employee.
The software already has an established client which includes Proctor & Gamble, Sainsbury’s, Siemens and EDF.
“Corporates have grown tired of yet more platforms and content. They don’t need more of these,” said Marc Zao-Sanders, CEO and co-founder of Filtered.
“This investment signals a shift in Learning and Development towards consumer-grade technologies and experiences and enables Filtered to lead that charge.”
Gareth Price, Investment Director at Maven, added: “We are delighted to be supporting the continued growth of the ambitious team at Filtered Technologies.
“magpie is an exciting, innovative product that is receiving a lot of interest from the corporate market, driven by increased demand for cost-effective, innovative approaches to implementing learning and development across their businesses.
“Filtered is targeting sustained growth through magpie and already has an established profile in the sector among high-profile global brands. We look forward to working with Marc and the team to help the business deliver on its growth plans.”