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Filament raises £2.85m for intelligent investment platform

AI-powered investment intelligence startup Filament has raised £2.85m in support of its platform for the private equity industry.

Founded in London in 2016, Filament created its platform, called Syfter, as a way for private equity firms to grow their in-house data infrastructure.

“We were attracted to Filament because of the many proof points within the business: the team has a track record of growing platform revenues, and we were impressed by the feedback from customers,” said Gayle Bowen, head of direct company investments at Wealth Club.

“Increasingly, private equity firms need to showcase their data technology abilities during fundraising, as a means of grabbing the attention of potential large investors.

“The ability to scale research and monitoring by investing in data is a valuable differentiator and helps PE firms secure the best deals in an increasingly competitive market.”

Filament said its Syfter platform helps private equity firms develop unique investment strategies by integrating third-party data with existing internal data.

The funding came in the form of an Enterprise Investment Scheme (EIS) round led by Wealth Club.

Phil Westcott, co-founder and CEO of Filament said that in addition to the funding, the company can benefit from gaining access to Wealth Club’s network of investors, “many of which work within the world of private equity or have close ties to the sector”.

Westcott added: “This in itself presents a great opportunity for building more ambassadors of the brand and greater awareness of what we offer.”

The post Filament raises £2.85m for intelligent investment platform appeared first on UKTN | UK Tech News.

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