London, UK-based predictive visual analytics platform Dragonfly AI raised GBP 3 million in the Series A round of funding. The round took place on April 13, 2022.
Guinness Ventures led the funding for Dragonfly AI. Meanwhile, existing investors Downing Ventures and Capita PLC invested in the funding.
Purpose of Funding for Dragonfly AI
With the new investment, Dragonfly AI will be able to scale up its sales engine further. It will focus on building the client growth team.
Besides, the visual analytics startup will invest in an exciting behavioural science, R&D and product development roadmap.
The funds will accelerate growth and international expansion plans across Europe and North America.
What do the officials have to say
Richard Mann, Chief Executive Officer (CEO) of Dragonfly AI, said, “We’re delighted to close this round of funding from investors that share our vision for the value that predictive technologies can bring to the creative design process. The investment will allow Dragonfly AI to continue scaling up across Europe and the US. It will also allow us to invest more heavily in our technology platform, including initiatives such as the new e-commerce benchmarks that we are launching this quarter.”
What the investors have to say
Shane Gallwey, Head of Ventures at Guinness Asset Management, said, “Dragonfly’s predictive visual tools are best in class, which is why leading global brands already use the technology to optimise their marketing. Our investment into Dragonfly brings another gem to the Guinness portfolio, and we look forward to supporting their success as they scale up their business.”
In addition, Richard Lewis, Partner at Downing Ventures, said, “We are thrilled to be supporting Dragonfly in the next stage of its growth journey. It is a privilege to continue to support entrepreneurial teams that have developed world-class, innovative technology here at Downing. We look forward to continuing the good work with Dragonfly and assisting with its international expansion.”
Matt Bunn, Co-Founder and the Managing Director of Capita Scaling Partner, said, “This represents a fantastic milestone for Dragonfly. We are delighted to continue our support for the business. The company is on an exciting growth trajectory and continues to develop its world-leading product.
We are looking forward to working closely with Guinness, Downing, and the Dragonfly team to further expand its international client base.”
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