London-based Growth Intelligence has secured £1.5m of funding from Shard Credit Partners through its UK technology-focused venture debt fund.
Award-winning Growth Intelligence helps B2B marketers by predicting which businesses are going to buy and how valuable they are going to be.
The company generated a 100% year-on-year revenue increase for 2021-2022 and the investment will be used to support sales team expansion, product development and expansion into new markets planned for the coming year
The investment marks the third investment made by Shard Credit Partners’ new fund, and the first since its successful first close which was announced in June 2022.
Previous investments include PassFort, which generated a total gross IRR of 249.2% in just six months (1.8x multiple on invested capital) and Rezatec.
William Chappel, head of venture debt for Shard Credit Partners, said, “We are very excited to provide financing support to Growth Intelligence. Growth Intelligence has an enormously exciting offering, and we can’t wait to work closer with them.”
Tom Gatten, CEO of Growth Intelligence, said: “The opportunity for businesses to acquire new customers digitally is growing post-Covid, yet most marketing leaders struggle to confidently define their ICP and total addressable market, which leads to high digital ad spending, slow growth, and low conversions.
“We’re here to solve this problem and transform B2B marketing by enabling large enterprises and mid-sized companies to build, scale and launch account-based marketing programs at scale.”
Alastair Brown, chief executive of Shard Credit Partners, said: “The investment team, led by Will Chappel, has a strong pipeline of opportunities and we expect the pace of deployment to continue through the summer months, supporting positive fundraising momentum as we approach subsequent fund closes through the remainder of 2022.”