New Funds for Text Analytics Platform Relative Insight

Text analytics platform Relative Insight has secured a £5m investment, for use in expanding its operations in the US and for new product development.

With offices in London, Lancaster and New York, Relative helps organisations generate insights from text data, through a platform combining AI-powered natural language processing with advanced comparative linguistics to understand target audiences, competitors and trends. Users upload data - from surveys, reviews, social, customer experience (CX) and voice of the customer (VoC) sources - to the platform, which then uncovers language relating to market trends, customer service issues, product opinions and marketing campaign effectiveness.

The firm's investment comes from YFM Equity Partners, through its managed British Smaller Companies VCTs (Venture Capital Trusts). YFM is an investor in a number of data and analytics firms, including consumer insights business Vypr, business intelligence and analytics software provider Panintelligence, and analytics company Elucidata.

Relative Insight CEO Ben Hookway (pictured) comments: 'Having seen rapid growth over the last four years, the business is now embarking on the next stage of its journey as we expand in the United States. We believe that YFM is the ideal partner to support us - they have a real understanding of our market and are a great fit culturally - we like the team and are confident they will add real value'.

Web site: www.relativeinsight.com .