£4m funding deal for firm to expand into USA market

Maven Capital Partners, has led a £4m investment in language understanding business, Relative Insight (RI), which has a Lancaster base.

The transaction comprises a £3m package from Maven’s VCTs, alongside £1m from NPIF-Maven Equity Finance, part of the Northern Powerhouse Investment Fund.

The funding will support the company’s growth strategy as it expands into the USA and develops its technology platform to help companies drive business value from language data.

The RI platform is used by companies to gain significant business value from their language data assets.

Most companies have considerable language data assets. Surveys, reviews, CRM and social media all represent rich sources of business intelligence and advantage if analysed in the right way.

Unstructured data, such as language, makes up 80% of annual data growth according to IDC – making it a critical business asset to be leveraged.