Intent HQ has raised £4.75 million of new growth capital to accelerate the company’s global distribution for its software product.
As a business-focused software company, Intent HQ’s product creates what it describes as a ‘fingerprint’ of each website visitor’s interests and preferences. This information is then automatically tailored in the hope that users spend longer on the site, increasing sales and conversion rates.
Oxford Capital is leading the funding round alongside existing supporter Edge Performance VCT, a fund that has backed Intent HQ since an early stage.
According to the business, the £4.75 million will be spent on improving the platform and ramping up marketing and sales activity.
Intent HQ CEO Jonathan Lakin says that Oxford Capital understands the space and is the right partner for the future and international expansion.
‘We are very excited about the prospects for further rapid growth in demand for audience intelligence, where our platform gives our clients an amazing opportunity to identify, access and action unique consumer intelligence,’ he adds.
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Customers using Intent HQ include Telegraph Media, The Food Network and Sky Italia, with most of its clients described as major publishers and consumer brands.
Colin Watts, partner at Oxford Capital, says of Intent HQ, ‘Its software-as-a-service business model provides a reliable and growing revenue stream and low cost integration with the customer’s infrastructure.
‘The company’s management team has an outstanding track record and we believe it has the vision and skill to “win the market” for audience intelligence and deep personalisation.’
Other recent deals for Oxford Capital have included its investment in digital archiving business Arkivum and participation in a funding round for Linkdex.