A Doncaster technology company that analyses big data using AI to optimise clients marketing spend has raised £1.65m through a new funding round led by NPIF – Maven Equity Finance, part of the Northern Powerhouse Investment Fund and managed by Maven Capital Partners.
Doncaster-based eSalesHub operates in the £2.5bn UK data analytics and insights market, with an existing product suite that covers call centre and recruitment media, tracking and analysis.
The company's clients include British Gas, Connells Estate Agency and Europcar.
The new funds, alongside internally generated cash, will be deployed to scale the business and further develop its proprietary AI technology. Expansion is expected to create 25 new jobs across technology, data science, business development, and sales and marketing at its head office.
The NPIF – Maven Equity Fund invested £1.35m, alongside the £300,000 from the Maven VCTs.
Mark Taylor, chief executive and founder of eSalesHub, said: "Our AI technology has the power to analyse big data, including categorising 10,000 customers calls in just 0.2 seconds, providing clients with a real time, complete view of the customer journey, actionable customer insights and an average 20 per cent more value from their Google spend. However, we are only just scratching the surface of the AI opportunity and have ambitious plans for expansion beyond our current call centre and recruitment product suite.
"The backing of NPIF and Maven Capital Partners will enable us to triple the local workforce and bring more high-quality tech jobs to Yorkshire. We will grow our sales and marketing team to raise awareness of our proven product suite, combined with increased investment in technology and business development to extend the application of AI as we seek to become Yorkshire's leading technology business."
James Rosthorn, investment manager at Maven Capital Partners, added: "eSales has developed a technology platform that address a genuine data gap between online click and offline conversion. The business has already achieved a number of milestones and supports a growing list of impressive clients. We're delighted to back Mark and the team at such an exciting stage in the company's development and look forward to working alongside them to support their growth plans."
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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