Maven invests £4m in language insight specialist
Maven Capital Partners has invested a total of £4m into Relative Insight, a firm which specialises in analysing language on behalf of its customers.
Lancaster based RI will use the funding to develop its technology and expand into the USA.
The platform gives companies significant business value from their language data assets, which can be taken from sources such as surveys, reviews, CRM and social media.
Most of the data is unstructured, but RI's technology has enabled firms including R/GA, McCann, DFS, and John Lewis to understand language differences between key audiences and use the intelligence for marketing optimisation, customer experience optimisation and employee engagement activities to improve business results.
The organisation resulted from a 10-year research project with Lancaster University’s linguistic and cyber security departments. RI originally designed its technology to support law enforcement agencies identify criminals masquerading as children in chat rooms.
Today, they apply the same methods to help brands interact and communicate more effectively with their audiences, focusing on comparison of the way people speak to derive insights that fuel sharper strategy and smarter communication.
Its advanced linguistic analysis platform has now been adopted by many leading advertising and marketing clients, both in UK and US, and the firm established a blue-chip client base. The company is opening an office in New York to support those clients and grow the customer base as part of a major expansion programme.
Relative Insight has developed an innovative, industry leading platform using cutting-edge linguistics analytics.
The funding package comprises £3m from Maven’s VCTs and £1m from NPIF – Maven Equity Finance, part of the Northern Powerhouse Investment Fund.
Dave Furlong, investment director at Maven, said, “Relative Insight has developed an innovative, industry leading platform using cutting-edge linguistics analytics. It’s a fascinating sector and the team has a range of industry expertise able to support the company’s ambitious growth plans."
Ben Hookway, CEO at Relative Insight, added: “The support from Maven allows us to further accelerate the growth of Relative Insight. We have a world class language analysis development centre in Lancaster, which along with our office in London is bringing better and simpler language analysis to all kinds of businesses. Expanding into the USA is the next logical step for us.”
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