Dragonfly AI raises £625k ($1m) in funding round to continue market lead in predictive analytics
Dragonfly AI, the British predictive analytics platform which is backed by Capita, is delighted to announce today the completion of a £625,000 ($1m) seed funding round.
Downing Ventures is the lead investor in the round which includes existing shareholders Capita and private investors. Having onboarded and retained brand giants including Diageo and Mitsubishi this year alone, the investment allows Dragonfly AI to grow their team across sales and customer success in addition to further developing the research into how companies will be able to take advantage of predictive visual analytics in creative workflow.
In a world saturated with visual stimuli at every twist and turn, the market for audience attention has never been more competitive. Dragonfly AI is the leading innovator within the predictive visual analytics sphere using artificial intelligence informed by cutting edge neuroscience which accurately predicts what consumers see first in any content instance, whether static or moving images.
Capita first became involved with Dragonfly in August 2019 when it took a minority stake in the company through its start-up development arm, Capita Scaling Partner. Through this partnership, Dragongly AI benefits from a dedicated business development team to enable it to scale rapidly and secure long-term, sustainable growth and profitability.
Richard Mann, Executive Chair at Dragonfly AI added: “We’ve made great progress this year with our mission to ensure content performs better when enhanced by science and are excited about our future. Downing Ventures backing is a great endorsement of Dragonfly AI’s team and our strategy. We’re excited to have Downing’s support at a perfect time to underpin our ongoing growth. In the current economic context, Dragonfly AI has a remarkable role to play for brands, retailers and their agency partners helping them to see things differently and improving the performance of their content in a competitive retail and digital market.”
Richard Lewis, Partner at Downing Ventures comments: “Dragonfly AI is proof of how AI can be supportive to human creative output in enabling the best possible results, rather than replacing it. We were remarkably impressed by the simplicity of the product that is supported with an incredibly complex AI function. This dimension of predictive analysis will change the face of visual branding forever and we are encouraged to see that many of its early adopters are pioneers in consumer brands leading the charge. We are excited to work with the Dragonfly AI team as we take these next steps together.”
Matt Bunn, Managing Director at Capita Scaling Partner said: “As an early investor in Dragonfly AI, we’ve witnessed first-hand the tremendous progress it has made in just a short space of time and we’re delighted they’re now making another huge step forward in their journey. Dragonfly AI already work with some of the best-known brands in the world and this investment will allow them to build on that success and target significant new growth in the coming months.”
To trial the Dragonfly AI platform and see how effective your own content is, please visit the Dragonfly website.