NEWS29 March 2022
UK – Text analytics platform Relative Insight plans to expand its operations in the US and strengthen new product development following a £5m growth capital investment by YFM Equity Partners (YFM).
The investment from YFM will enable Relative Insight to further grow its customer base, as well as continuing to develop the platform to provide greater customer insights and data integrations for its clients.
Customers upload data to the Relative Insight platform and the AI-based text analysis techniques highlight critical differences in consumer language to drive deeper insights into digital marketing, consumer analytics and customer experience.
With its origins in law enforcement, the Relative Insight technology has been designed to provide the fastest possible time to critical insight and action for market trends, customer service issues, product opinions and marketing campaign effectiveness.
Relative Insight has offices in London, New York and Lancaster; its growing international client list includes companies such as Sky, Nespresso, Starbucks, General Mills, MetLife and Sony.
Relative Insight chief executive Ben Hookway (pictured above right) commented: “With an ever-increasing amount of data available to businesses, many are struggling to make sense of this valuable information. This can prove vital in understanding what is causing business outcomes, and what can be done to change them.
“Our platform is able to rapidly analyse millions of words and compare them across a range of variables to highlight the critical differences in consumer language, helping to explain market trends, customer behaviour and provide actionable insight that makes communication more effective with target audiences.
“Having seen rapid growth over the last four years, the business is now embarking on the next stage of its journey. We believe that YFM is the ideal partner to support us; as well as having an established track record scaling SaaS businesses, they have a real understanding of our market and are a great fit culturally.”
Dan Freed, partner at YFM, (pictured above left) added: “Data and text analytics is a rapidly expanding market and one with huge potential given the ever-increasing demand for improved business intelligence and customer insights.
“The Relative Insight platform is a compelling proposition helping companies to understand why things happen. The heritage of the business resonates with us; we believe it is a best-in-class platform led by an experienced and very impressive management team.”