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Chloe Shakesby

London AI tech company raises £3.3m for global growth plans

A London technology company has announced that it has raised £3.3m in a funding round to support its global growth plans.

RevLifter, a deals platform driven by artificial intelligence, has raised the funding in a Series A round led by a syndicate of new investors, including Gresham House Ventures and Maven Capital Partners.

The company is currently on track to almost treble its year-on-year revenue in 2020, which it says has been pushed by the shift online caused by the pandemic.

Simon Bird, co-founder and CEO, commented: “We’re delighted to welcome both Gresham House Ventures and Maven Capital Partners into the RevLifter fold. Knowing we have their belief is an amazing validation of our vision.

“We’ll be using the investment to capitalise on our leadership position in this market and continue our rapid expansion into new markets.

“The US currently accounts for about 60 per cent of our revenues but there’s growing demand that we’re primed to meet across EMEA and APAC in particular.”

Ryan Kliszat, co-founder and chief product officer, said: “We’re already in retail and telecoms but we see an opportunity to break into new industries such as finance and utilities.

“Our clients tell us they love the ongoing improvements we’ve made to our product and capability this year.

“This fundraise will help us accelerate plans for further new features, including a product that will bring our game-changing AI deal personalisation treatment to a ‘basket abandonment emails’ market in need of a shake-up.

“We’ll also bring innovation to push notifications, product recommendations and deal personalisation across the whole e-commerce journey. There’ll be more we can reveal at a later date.”

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