Filament, a London, UK-based AI-powered investment intelligence startup, has raised £2.85 million in support of its platform for the private equity industry.
The funding came in the form of an Enterprise Investment Scheme (EIS) round led by Wealth Club.
The company’s platform, Syfter, enables private equity firms to create unique investment strategies by integrating third-party data with their existing internal data. Syfter helps private equity firms showcase their data technology abilities during fundraising and secure the best deals in an increasingly competitive market.
Phil Westcott, co-founder and CEO of Filament, said that in addition to the funding, the company can benefit from gaining access to Wealth Club’s network of investors, “many of which work within the world of private equity or have close ties to the sector."
Westcott added: “This in itself presents a great opportunity for building more ambassadors of the brand and greater awareness of what we offer.”
Company: Filament Consultancy Group
Raised: £2.85M
Round: Unknown
Funding Month: May 2023
Lead Investors: Wealth Club
Additional Investors:
Company Website: https://www.filament.ai/
Software Category AI-powered Investment Intelligence
About the Company: Founded in 2016 by Phil Westcott and Doug Ayres, Filament is a software business specializing in building business applications powered by real-time data. It has developed a platform, ‘Syfter’, that uses natural language processing and machine learning to help private equity firms build their proprietary market intelligence capability, sifting deal opportunities in real-time. The solution is already used by major European private equity (PE) firms with c.£120 billion of assets under management. Filament also has offices in Southampton, Munich, and Barcelona, employing 30 staff.
Source: https://www.uktech.news/ai/filament-funding-20230509