AI-powered marketing solution Artesian has bagged £3.5m in funding from Columbia Lake Partners to support its continued expansion.
UK-based Artesian enables businesses to transform the B2B sales engagement with an intelligence app to support processes. Solutions help a client to segment, build and report prospecting lists, accelerate deals, improve account intelligence and find new information opportunities, among others.
The solution’s current clients include: Metro Bank, Aviva, Citi, IBM, NatWest, Octopus Investments, Sage, Lloyd’s Banking Group and HSBC. Earlier in the year the company moved past its profitability milestone.
This capital will be used to refinance existing debt obligations, but also to provide support for further growth and expansion. By refinancing previous obligations, Artesian hopes it will enable it to free up capital to invest in its R&D. Recent developments include its ‘Insight Agent’, a chat bot for automating various processes, and ‘Arti, a digital assistant for interaction with a website.
Artesian co-founder and CEO Andrew Yates said, “We are constantly looking at the ‘what next’ scenario, pushing boundaries to establish our business as one of the leading innovators in B2B software for commercial teams, this has paved the way for our new risk mitigation capabilities which will be released in the new year.”
This new round of financing brings the total capital raised by Artesian to around £10m, with the company raising £5m in 2015.
Earlier in the year, Columbia Capital injected an initial $4m in to BillingPlatform, with plans to invest another $13m across the next 18 months. Equity will be used to support sales and marketing.
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