Northern Powerhouse funding for Lancaster-based Relative Insight
Business data company Relative Insight Limited has secured backing from the Northern Powerhouse Investment Fund.
The Lancaster-based enterprise will use the investment to boost its customer-facing operations, accelerate development and “capitalise on the proliferating opportunities in the UK and, increasingly, the USA” according to CEO Ben Hookway.
Born out of a decade-long research project with Lancaster University’s linguistic and cyber security departments, Relative Insight started out using its language analysis technology to help police identify criminals pretending to be children in online chat rooms.
Today, the firm applies similar methods to help brands reach audiences more effectively.
Relative Insight’s technology works by comparing the way people speak to show brands how to improve strategy and communication.
Multinationals such as Disney, Unilever and Havas are among Relative Insight’s global client base.
The Northern Powerhouse funding was secured through private equity firm Maven Capital Partners.
Maven investment manager Martin Clark said: “Maven is very pleased to have secured this investment into Relative Insight and look forward to working with the talented management team, helping them achieve their ambitious growth plans.
“Relative Insight epitomises the kind of early stage growth business that the equity finance part of the Northern Powerhouse Investment Fund is designed to assist.”