NPIF – Maven Equity Finance, part of the Northern Powerhouse Investment Fund and managed by Maven Capital Partners, has led a £1.65 million funding round for eSalesHub, a Yorkshire tech firm analysing big data using AI to optimise clients marketing spend.
The NPIF – Maven Equity Fund invested £1.35 million, alongside the £300,000 from the Maven VCTs.
The new funds, alongside internally generated cash, will be deployed to scale the business and further develop its proprietary AI technology solutions.
Expansion is expected to create 25 new jobs across technology, data science, business development and sales & marketing at the company’s Doncaster head office.
Mark Taylor, CEO 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, said: “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.”