An AI data insights innovator has closed an £8.8 million investment round.
Over the past 12 months, techspert.io has onboarded many customers from across the healthcare, investment, private equity, advertising, consultancy and corporate sectors, and expanded into the energy and industrials sector.
The team has grown to more than 50 people while the Cambridge-headquartered company increased its global footprint with the opening of a new office in Houston, Texas.
The funding round was led by BGF and existing investor Nauta Capital.
“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,” said co-founder and CEO David Holden-White.
“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.”
The volume of online data, information and misinformation is growing exponentially, as is the speed with which markets and products evolve. It is therefore increasingly challenging and important for businesses to cut through all the noise and get the rapid insights they need for smart decision making.
techspert.io maps and predicts expertise across over 200 million experts worldwide, using a knowledge graph covering millions of expertise areas. This enables businesses to access expert insight more rapidly, precisely, and conveniently than ever, whether they need to understand the treatment landscape for a rare disease or the latest application of drones in agriculture.
Currently growing at more than 150% year-on-year, techspert.io will use the new investment to transform its platform, expanding into new expertise verticals including consumer goods, technology, media and telecommunications, as well as enabling customers to get instant expert recommendations, and providing experts with a more convenient way to manage their expert engagements.
Mike Adam, the company’s chair, is also investing in this round. “We are incredibly pleased to have BGF on board as a long-term partner for our business,” he said.
“They share our aspiration to empower decision-makers in businesses of all sizes with precise, on-demand access to the best domain knowledge experts worldwide.
“We look forward to embarking on the next phase of the journey with them as we strive to have a significant impact in the global knowledge economy.”
Mark Nunny, investor at BGF, said: “We have tracked techspert.io’s achievements over the past 24 months and been impressed that it has hit its technical and commercial milestones.
“Its technology platform automates the mapping and categorisation of knowledge and experts, while connecting them to consulting firms, private equity houses and corporates. techspert.io is unique in the industry as it addresses the problem of intensive human capital that is required in the traditional search process. The business delivers better experts, more efficiently and we are delighted to back David and his team at the next stage of growth.”AI