MMC backs AI-powered Growth Intelligence again with £1.7m funding round

MMC- backed Growth Intelligence has raised £1.7m funding, led by 24Haymarket, to help marketers and sales leaders drive faster growth with AI.

Founded in 2013, Growth Intelligence helps high profile brands, including American Express, FedEx, Western Union, iZettle and Vitality Health, target their direct marketing activity to businesses that are most likely to buy.

Growth Intelligence reached profitability early in 2018 and has tripled recurring revenue year on year. The company will use this funding to invest in its AI Platform – building new AIs to solve additional challenges faced by B2B marketers. The company will be investing heavily in data science, engineering and commercial talent.

With demand for Growth Intelligence’s sales and marketing AIs strong and growing, 2019 will see continued triple-digit growth. Growth Intelligence also plans to bring on board leading commercial and technical executives this year.

As part of the investment joining the Board are Andy Robertson, Martin Brown and Stuart Dawson as the chairman.

Thomas Gatten, CEO of Growth Intelligence, adds:

This is a great opportunity to invest on top of our triple-digit revenue growth. Trade is the human super-power, by applying AI to boost trade we are helping companies and economies grow faster. We’re hiring!”

THOMAS GATTENCEO, GROWTH INTELLIGENCE

Alan Morgan, Chairman, MMC, adds:

Growth Intelligence is one of a small number of companies using AI to deliver true predictive marketing. We are happy to announce our continued support for the business and look forward to working with Tom, Prash and 24Haymarket in the next phase of their growth.

ALAN MORGANCHAIRMAN, MMC VENTURES