NPIF - Maven Equity Finance has led a £1.65 million funding round for eSalesHub, a Yorkshire tech firm analysing big data using A.I to optimise clients marketing spend. The Fund invested £1.35 million, alongside £300,000 from the Maven VCTs. The new funds will enable the business to scale and further develop its proprietary A.I technology solutions. Expansion is expected to create 25 new jobs across technology, data science, business development and sales & marketing.
eSalesHub operates in the UK data analytics and insights market, with an existing product suite that covers call centre and recruitment media, tracking and analysis. The trend in recent years to online shopping has been mirrored with rapid growth in online marketing, and despite the growth in online, tracking sales from online clicks through offline sales remains as important as ever. Click through calls from Google alone are estimated to grow considerably as consumers still require that human interaction before making purchases of goods and services. This has created problems for marketers, who historically have been unable to track the customer journey when it shifts from online to offline, making accurate measurement of digital marketing success and value for money, impossible.
eSalesHub’s technology was developed in-house to solve this problem, connecting the on and offline customer journey to provide meaningful insights into all elements of the customer experience, broken down by demographics. The technology automates call tracking, covering both the classification of calls into categories such as Sales, Customer Service or Supplier and also tracks each call through to its outcome. This provides clients which include British Gas, Connells Estate Agency and Europcar, full marketing attribution back to the initial keywords that triggered the enquiry, enabling marketing professionals to accurately measure the effectiveness of their digital marketing spend.
Mark Taylor, CEO and founder of eSalesHub said: “Our A.I technology has the power to analyse big data, including categorising 10,000 customers calls in just 0.2 seconds, providing clients with a real time, complete view of the customer journey, actionable customer insights and an average 20 per cent more value from their Google spend. However, we are only just scratching the surface of the A.I. opportunity and have ambitious plans for expansion beyond our current call centre and recruitment product suite.
The backing of NPIF and Maven Capital Partners will enable us to triple the local workforce and bring more high quality tech jobs to Yorkshire. We will grow our sales and marketing team to raise awareness of our proven product suite, combined with increased investment in technology and business development to extend the application of A.I as we seek to become Yorkshire’s leading technology business.”
James Rosthorn, Investment Manager at Maven Capital Partners said: “eSales has developed a technology platform that address a genuine data gap between online click and offline conversion. The business has already achieved a number of milestones and supports a growing list of impressive clients. We’re delighted to back Mark and the team at such an exciting stage in the company’s development and look forward to working alongside them to support their growth plans.”
Raising equity may be suitable for businesses with growth aspirations, and the right investor can help a business achieve its objectives in a sustainable way. Maven has a proven track record of working closely with management teams in ambitious business to drive growth and create value. If your business is in need of finance to help unlock its growth potential, NPIF Maven Equity Finance may be able to help. Contact Maven’s local team today on 0161 233 3500.