Crowd analytics specialist Crowd Vision has completed a combined funding round, attracting significant US investment, the business has announced.
The deal also sees early-stage angel investors, one of whom is the government-backed Angel Co-Fund, with a partial exit. The privately managed fund works with prominent UK business angels to invest in high-potential SMEs and promote further business investment across the country.
Investment director Tim Mills called Crowd Vision “an innovative business, with international appeal”.
“[It] has seen significant traction with customers and investors alike,” he continued.
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“The growth capital announced today has provided an attractive partial exit for the Angel CoFund, allowing us to recycle that funding back into new British businesses, whilst still keeping a share of future value growth of the business.”
CEO Fiona Strens and co-founder Anders Johansson founded crowd Vision in 2011. The technology has a a wide variety of applications including crowd safety at the London Olympics and managing human traffic flow on pilgrimages to Mecca. It is also used at major transport hubs including London City Airport.
CEO Strens called the investment “a real boost” as the business looks to move to the next level of development.
“Anders and I will continue to manage the business and, like the CoFund, many of our existing angel shareholders are staying on to participate in the next phase of growth too. We thank all our backers for their support over the recent years,” she said.
Further reading: Oxford Tech Cluster set for £1bn funding boost