Autologyx powers ahead with £1m Series A from Angel CoFund, Beacon Capital and Richard Hargreaves

Today autologyx announces it has raised an additional £1 million to rapidly expand its foothold in legal, RPO and insurance sectors. The digital operations platform, which automates real-world, complex business processes, has seen significant growth over the past year, both in terms of recurring revenues – which have doubled, and demand for its market-leading platform.

Angel CoFund (ACF), Beacon Capital and Richard Hargreaves, an early investor in RPA business Blue Prism Group plc, led the round following their investment in the pre-series A round in 2017.

Tim Mills, Founder Partner of the ACF commented: “autologyx has maintained an excellent track record since we first invested in the team, and they’ve delivered some first class results for customers. Their growth demonstrates a strong market demand for solutions that can help businesses automate everyday processes and increase efficiency. We are pleased to be part of this round supporting autologyx’s continued success.”

The additional funding will enable autologyx to accelerate the company’s development of its digital operations platform for companies in the legal, RPO, and insurance sectors as its clients look to realise the full potential of automation and new technologies. Autologyx enables organisations to embrace innovation by integrating next generation technologies such as AI and ML with legacy systems, delivering low risk innovation to ensure sustained competitive advantage.

For example, by implementing the autologyx platform, Eversheds Sutherland Ignite – a top 50 global legal practice – saved the equivalent of 46 weeks of lawyers time in just six months.

Barry Rodick, Innovation Lead at ES Ignite commented: “When it comes to automation, having a partner whose platform is designed for your future business, not just the business you are today, is critical. This is what autologyx offers; the platform gives us exactly what we need now but also enables us to realise our future ambitions at speed. We’re still only using a fraction of its capabilities but we’re already seeing significant returns.”

Barry Rodick and Ben Stoneham will be presenting this case study at the ‘Machine Learning in Legal Event’ in London on Friday 21st June 2019. 

Thinking about the opportunity ahead for autologyx, Ben Stoneham, CEO and Founder comments:“Automation is one of the hottest buzzwords in business but to-date many enterprises have been disappointed by the solutions they have implemented as often, the technologies they have bought have failed to embrace their ‘real world’ complexities.  Our platform is different; it enables businesses to automate the way their world is now, not to suit the technology, whilst enabling them to digitise their business and deliver innovative solutions for their customers.”

About autologyx Ltd (ALX)

autologyx® digital operations platform enables enterprise businesses to automate complex mission-critical processes faster and more cost effectively than existing automation software. autologyx® empowers organisations to embrace innovation by integrating next-generation technologies – such as AI and ML – with legacy systems, enabling low risk innovation to ensure sustained competitive advantage.

The autologyx® platform moves beyond simple task-based automation, offering a more holistic real-world automation approach. Unlike traditional process automation and workflow solutions, autologyx® is driven by events and data – not process – allowing users to build interdependent processes across business operations that can react in real time.

Designed and hosted in the cloud, at the heart is autologyx’s fabric automation® engine, a true PaaS ‘no-code’ solution enabling business users to build and run sophisticated automation applications in a fraction of the time (and thus cost) of alternative solutions.

The company, founded by Ben Stoneham, CEO, and founder investor Stephen Bullock, Chairman and serial Tech Angel Investor, is privately owned and venture backed with investment from Beacon Capital, British Business Bank, London Co Investment Fund (LCIF) and prominent Business Angels.

For more information please contact: 

Press Relations
autologyx@themediafoundry.com 

Analyst Relations
sales@autologyx.com

About the Angel CoFund

Launched in 2011, the Angel CoFund (ACF) is a privately managed and commercially focused institution that works alongside groups of business angels to invest in high potential SMEs across the UK, directly providing funding as well as encouraging the expansion and development of the business angel market.

To date the ACF has supported 80 companies (for example Ebury, Gousto, Crowd Vision and Hopster) providing more than £45 million in direct investment alongside more than £240m from business angels and other investors, making it one of the most active early stage investors in the country.

The ACF is a long-term investor and, in aggregate, sets aside £1 of further capital for every £1 it invests. This model gives portfolio companies and co-investors the support they need to propel strong growth.

To find out more, please visit www.angelcofund.co.uk.

Nivo secures £2 million Series A investment from GP Bullhound, Angel CoFund and Angel Investors

Nivo announces £2m funding round to accelerate growth and boost innovation in customer identity verification and onboarding for regulated financial firms

  • GP Bullhound and Angel CoFund invest in Manchester-based firm, alongside angel investors
  • Nivo is the only instant messaging network that banks can trust for sensitive and transactional conversations

Manchester, 2nd May – Nivo, the Manchester-based instant messaging and identity verification platform, has announced the close of a £2m funding round from GP Bullhound, the Angel CoFund and a syndicate of angel investors. This funding will be used to accelerate growth and product innovation, cementing Nivo’s position as the fastest, safest way for financial services companies to sign up and service their customers.

Nivo’s secure instant messaging network includes advanced data protection features, so brands in regulated industries can connect with customers, verify identities, gather personal information and complete transactions much more easily using mobile technology. Launched in late 2018 as an early stage spin out from Barclays Bank, Nivo’s are already working with large banks, lending brokers, lenders, credit unions and professional services companies who use the platform to significantly improve customer sign ups and service efficiency.

Since launch, Nivo has enabled more than £20m of loans to be written by financial services organisations using its platform and has engaged with over 30,000 consumers.

Nivo CEO Mike Common comments: “Our mission is to make it easier for consumers to connect with service providers in regulated industries like Financial Services. Our clients are using Nivo to deliver simpler mobile experiences, which reduce effort and empower customers. This means everyone saves time, costs go down and satisfaction goes up.”

He added, “We’re making the latest and best financial technologies available to anyone. For service providers, it’s free to get started, with no technical effort required, then a simple monthly subscription.

Hugh Campbell, Managing Partner of GP Bullhound added: “Manchester is a growing hub for disruptive and world-leading FinTech firms, and we’re delighted to be putting our support behind one of its leading lights. The strength of advocacy and results from its existing client base impressed us right from the beginning, with the Nivo team developing an unparalleled product offering that is disrupting the financial services industry.”

Tim Mills, Managing Partner of the Angel CoFund said: “The Nivo team has achieved a great deal in a very short period of time, and solves a very real problem for enterprises needing to transact a wide range of services online. The strength of the product has led to early adoption by a broad range of well-known financial institutions. The team knows this industry very well and has built a fantastic group of supporters and advisors around them. We’re happy to be joining that group and look forward to seeing the product go from strength to strength.”

The funding also includes some of the UK’s leading technology entrepreneurs including Elizabeth Gooch, founder and CEO of process optimisation technology firm EG Solutions who will be joining the Board. Other investors include Scott Fletcher, founder and chairman of cloud computing group ANS, Paul Gouge and Alex Rigby, founders of leading mobile games company Playdemic, and Rodney Baker-Bates, Chairman of the Willis Group.

Nivo allows any provider in a regulated industry to join its network in minutes, with no upfront cost or technical expertise – allowing any brand to offer a high-quality digital experience that would normally cost millions of pounds.

The platform offers features including Onfido identification verification checks, the ability to securely send and receive files and photos, open banking, and electronic signatures – all delivered via instant messaging.  

In addition to its unique position as the go-to instant messaging platform for banks, Nivo offers the most flexibility to enable e2e customer sign ups, and delivers unparalleled ease of set up and a simple monthly subscription. Clients have confirmed that sign up processes previously taking six weeks have been reduced to 15 minutes through Nivo’s platform.

Nivo joins existing GP Bullhound portfolio companies, including Slack, Partnerize and Unity Technologies on its list of fast-growing technology businesses.

Media Enquiries

For enquiries please contact:

Jake Smith

Brandex Financial

e – jake.smith@brandexfiancial.co.uk

m – 07860 779802

About Nivo

Nivo is an instant messaging platform with robust bank standard security and FinTech features built in. Developed by a senior team from a leading UK bank, its unique service lets any business access technologies previously only available to large banks and makes it much easier for consumers to get the right financial products.

www.nivohub.com

About GP Bullhound

GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visitwww.gpbullhound.com, or follow on Twitter @GPBullhound.

About the Angel CoFund

Launched in 2011, the Angel CoFund (ACF) is a privately managed and commercially focused institution that works alongside groups of business angels to invest in high potential SMEs across the UK, directly providing funding as well as encouraging the expansion and development of the business angel market. To date the ACF has supported 85 companies (for example, Ebury, Gousto, Crowd Vision and Hopster) providing more than £40 million in direct investment alongside more than £200m from business angels and other investors, making it one of the most active early stage investors in the country. The ACF is a long-term investor and, in aggregate, sets aside £1 of further capital for every £1 it invests. This model gives portfolio companies and co-investors the support they need to propel strong growth. Visit www.angelcofund.co.uk

HealthTech company Neurovalens raises £4.6 million Series A investment led by Wharton Asset Management

Belfast-based health tech company, Neurovalens, has secured one of the largest ever Series A investments generated by a Northern Irish technology company.

The company specialises in using neuroscience to solve everyday health issues.

The £4.6 million raise was led by London-based Wharton Asset Management along with Cambridge based IQ Capital. The round was also supported by Techstart Ventures, through its Invest NI-backed fund, The UU Fund, Co-Fund NI managed by Clarendon Fund Management, Beltrae Partners and the Angel CoFund.

Led by Dr Jason McKeown, Neurovalens is renowned for the development of Modius, an innovative headset which non-invasively stimulates the area of the brain associated with appetite and cravings.

The investment will allow for further medical trials in the areas of obesity and type 2 diabetes and will also support the company’s wider research into issues such as insomnia, mental health and epilepsy.

“We are delighted to receive this latest wave of funding, it will enable us to continue to lead the way in developing non-invasive neuro-stimulation technology and will propel our work to a whole new level,” said Dr Jason McKeown, CEO of Neurovalens.

“Modius has been an incredible success story since its launch in 2017 and with medical device approval expected within the next 12-18 months, the prospects are extremely exciting.

“With the concept now proven, our immediate focus is on the development of neurological science to tackle ever wider health and lifestyle issues affecting people all over the world. It’s a hugely exciting time for the application of neuroscience and our business.”

Highlighting the significance of the funding round, Jamie Andrews of Techstart Ventures added:

“We are very proud to have been investors in Neurovalens from its earliest days. This round is a huge endorsement of the work of the entire team at Neurovalens. Their ability to bring neuroscience and technology together is not only delivering a lighthouse commercial success story for Northern Ireland but at a global level, is changing lives for the better.”

Also commenting on the raise, Kerry Baldwin, Partner of IQ Capital added:

“IQ Capital is looking forward to supporting the impressive, thought-leading team at Neurovalens as they apply their IP-rich neuro-tech to solve multiple health issues.”