Lancashire-based enterprise analytics firm Interrodata has raised £2.2 million in a seed round. The company’s AI-driven solution is specifically targeted at the consumer product goods industry and aims to throw clients drowning in a sea of data a life buoy.
Founded by former Procter & Gamble executive David Boon, he explains the reasoning behind Interrodata, "These days, most enterprise clients are not lacking in data, yet they have limited human capacity to turn all this data into helpful guidance for their management and lead teams.
As a result, teams have had to make do with dashboards, scorecards, or high-level monthly market updates; or do their own insight discovery manually.”
On the investment, lead investor Fuel Ventures’ Mark Pearson commented, “Advanced analytics is an attractive market, expected to double in the next 5 years. But providing personalised insights and relevant guidance at the individual level is a hard problem to solve.
Interrodata have something unique, the encoding of deep industry expertise to their analytic platform, so that it yields helpful guidance for each manager. That's what enables them to deliver such a strong ROI for their enterprise clients."