05 Apr Cardiff’s Amplify grow investment pot with successful second funding round
Artificial Intelligence and deep web specialists AMPLYFI have announced that they have closed their latest equity funding round with a huge £800,000.
Based in Entrepreneurial Spark Powered by NatWest’s Cardiff hub, AMPLYFI specialise in Surface and Deep Web harvesting through their flagship product DataVoyant™, a tool specifically designed to support strategic decision-making.
As reported in Wales Online today, Finance Wales, one of the UK’s largest regional SME investment companies led the funding round, with additional private investment from some of the UK’s most successful investors including Ashley Cooper, co-founder and director of Catalyst Growth Partners. This brings the total funding secured by the start-up in the last four months to £1,200,000.
This second equity round follows an initial investment from Finance Wales in August 2016 and a recent £400,000 ($500,000) unsecured loan from the Welsh Government, which is enabling AMPLFYI to expand their highly-skilled programming team.
This news follows other recent success as both Chris Ganje (CEO) and Mark Woods (CTO) were named in the The Sunday Times 2017 Maserati 100 – the top 100 list of British disruptor entrepreneurs. AMPLYFI was also recently featured in the 2017 Tech Nation Report, as well as being identified as a top 100 Artificial Intelligence firm globally by AI Business.
Chris Ganje said: “The future of business intelligence lies in delivering high performance, easy to use solutions driven by the most advanced Artificial Intelligence capability. AMPLYFI’s next generation architecture has been purpose-built to address this challenge. This latest round of funding will allow us to continue our exponential growth to meet the needs of our rapidly growing client base.”
Philip Barnes, Investment Executive for Finance Wales’ Technology Venture Investments said: “AMPLYFI is a superbly managed company, with a team of high-class Artificial Intelligence and strategy experts, (their) strong potential for significant growth and profitability made it a perfect fit for our portfolio.”
Entrepreneurial Spark’s Cardiff Enabler Rony Seamons said: “AMPLYFI have been great to work with. They really know their stuff when it comes to Artificial Intelligence but they have been eminently coachable. Chris and Mark have applied what they have learned about the entrepreneurial mindset to their business and have grown as result.
“I’m not surprised to see investors from a variety of Welsh funds prepared to back them. They have taken every opportunity to work closely with our partners NatWest, Dell Technologies, KPMG Enterprise and Pinsent Masons and making them a great example of the kind of entrepreneurs we are trying to build, as they are truly credible, backable and investable.”
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