Filament, a London, UK-based data platform for the private equity industry, raised £2.85m in funding.
The deal was led by Wealth Club through the Enterprise Investment Scheme (EIS).
Founded in 2016 by Phil Westcott and Doug Ayres, Filament 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. Syfter is an AI powered ‘InvestTech’ platform that sits within the PE firms firewall, integrates multiple third party data with the PE firms’ internal proprietary data and then interrogates with algorithms tuned to the unique investment strategy of each client.
The solution is already used by major European private equity (PE) firms with c.£120 billion of assets under management.
The company also has offices in Southampton, Munich and Barcelona, employing 30 staff.
FinSMEs