Mindset AI, an embedded AI agent platform, has raised £4.3 million in funding to expand its operations in the UK and open an office in Chicago.
Founded in 2019 by the team that successfully built and exited the secure file-sharing software service Workshare (acquired by Litera), Mindset AI enables SaaS companies to build and embed AI features in their products without starting from scratch.
It allows these companies to create user-friendly AI agents that chat using natural language, turning their unique content, expertise, and intellectual property into effective AI features.
Mindset has experienced substantial growth, achieving a remarkable 120 per cent increase in revenue year-on-year and reaching £1M ARR in October 2024. This growth is attributed to the experienced team and Barrie Hadfield, the CEO and co-founder, who is a seasoned technology entrepreneur with expertise in founding and leading companies in the software and AI sectors.
Mindset AI’s platform is already embedded in global SaaS products across learning and development, HR and media - with clients such as Alison, Fuse Universal, SkillPath and Mintra. Mindset AI’s agents now operate within over 2,700 companies.
One of the company’s clients has already seen course enrolments increase by 900 per cent within three weeks of launching a search and recommendation agent, leading to 3.4x more revenue than those without access.
Another company’s AI support agent reduced their team's workload by 30 per cent in just one month, freeing up teams for higher-value work.
Barrie Hadfield, CEO and co-founder of Mindset AI, said:
“As AI evolves, so does the gap between businesses adopting it and those being left behind. AI talent is in short supply, and costs are high.Companies need solutions that let them deploy AI agents without heavy investment in AI teams or long development cycles. We’re making AI agent creation as easy as writing a Google Doc, so that SaaS companies can embed AI without friction.”
The round was jointly led by Edge VC and Pembroke VCT, with participation from existing investors, and Mountside Ventures advising the raise. Before this round, it raised £3.79 million from Mercia and angel investors.
According to Fred Ursell, Investment Director of Pembroke Investment Managers, Mindset AI is redefining how learning and development businesses present and monetise their content through AI-powered conversational agents:
“With an experienced and exited founder, strong SaaS business model fundamentals, and a clear path to growth, we’re excited to back Barrie and the team as they scale.
Mindset AI has the potential to transform the way enterprises leverage their content, and we look forward to supporting their journey."
Alex Reed, Founding Partner of Mountside Ventures, said:
"It’s rare to find an exited serial entrepreneur who is not only highly technical but also possesses such strong commercial acumen.
We’re excited to see Mindset thrive in its next stage of growth as they deliver on their mission to make expert knowledge accessible."
The investment will support the development of Mindset AI’s natural language programming interface, expand its APIs, SDKs, and no-code tools, and scale its go-to-market efforts. The team will also use the funding to establish a US presence, with Chicago selected as the home of its first US office.
Lead image: Barrie Hadfield, CEO and co-founder of Mindset AI. Photo: uncredited.
Would you like to write the first comment?
Login to post comments