Predictive B2B martech provider Idio has received £2 million funding to help with its expansion and encourage future growth.
The investment was provided by Clydesdale and Yorkshire Bank. Prior to this the company has raised more £11 million towards its expansion from venture capital firms. Idio pinpointed its ‘demand orchestration’ platform, which uses artificial intelligence to maximise buyer engagement, as the primary reason for this previous investment. Current users of the platform include Fitch Group, Pegasystems and S&P Platts.
Edward Barrow, CEO at Idio, said: “Having already clearly proven the success of the technology, these funds will allow our business to invest in sales and marketing as well as further fine-tuning and honing the product and its efficiency.”
Usman Ali, director, growth finance at the bank, added: “We are proud to be able to support pioneering high-growth SMEs across the UK and Idio falls perfectly into this category as a provider of intelligent technologies to its customers.”
Idio was established in 2006 and has offices in both the UK and US.
