Home » AI-powered market intelligence firm AMPLYFI closes funding round to ‘democratise intelligence’ 

AI-powered market intelligence firm AMPLYFI closes funding round to ‘democratise intelligence’ 

by Tech Reporter
6th Sep 23 10:17 am

AMPLYFI, the AI-powered market intelligence platform, has closed a significant funding round to unlock knowledge capital through a powerful combination of machine learning and generative AI.

The funds, from Innovation Investment Capital (IIC), will support AMPLYFI to continue its international expansion and further develop its market-leading technology. AMPLYFI delivers businesses unique insights by connecting structured and unstructured data at scale to uncover previously hidden links, trends and opportunities.

It does so by summarising huge volumes of data sourced from millions of documents a day including company websites, news, RSS feeds and scientific papers.

AMPLYFI’s platform combines customisable interests and machine learning to surface the most relevant insights for the user, while using generative AI to provide access to information at speed. This empowers businesses to make global market, sales and risk decisions.

“We are passionate about democratising intelligence,” said Paul Teather, CEO at AMPLYFI. “It’s widely acknowledged that there is more information out there than can ever possibly be consumed, so we do the heavy lifting and provide individuals with the tailored insights they need to make the best possible decisions.”

He added: “We are thrilled that IIC is attracted to AMPLYFI. This investment is a crucial milestone for the business as we look to put our technology in the hands of many more users.”

Primarily used by sales, market intelligence and risk teams, AMPLYFI has already built an impressive client list spanning national defence departments, global pharmaceutical giants and financial institutions.

AMPLYFI is the first IIC investment, having launched with an initial £50 million from Cardiff Capital Region (CCR) to invest long-term capital in sustainable growth opportunities. The fund’s General Partner is Capricorn Fund Managers (CFM), which is responsible for managing the fund and the overall portfolio risk management, with PwC supporting CFM in advisory matters and operational services, including investment research and sourcing..

Rhys Thomas, Chief Operating Officer of CCR, commented: “The AMPLYFI investment aligns with our mandate of backing innovative businesses in many different sectors, encouraging new jobs and good growth across the region.”

Rob Asplin, PwC Partner, said: “As we supported CFM, what stood out throughout our discussions and process with AMPLYFI was the strength of the management team, the rapidly growing generative AI market and AMPLYFI’s existing blue-chip customer base.”

Lynda Stoelker, Chief Operating Officer at Capricorn Fund Managers and Chair of the IIC Investment Committee, added: “AMPLYFI, as IIC’s first investment, sets a high bar for innovation and we are delighted to be part of their journey.”

Leave a Comment

You may also like