A UK company, Distil.ai, is a software platform that helps businesses to understand their customers’ behaviour and identify buying signals. This customer data platform has raised £400K investment from Mercia as it focuses on growth.
Pursue growth strategy
The business has achieved strong organic expansion over recent years and it has ambitious plans for the future as well. This investment will allow Distil.ai to pursue their growth strategy. Also, the funding will enable Distil to further develop its product and accelerate its sales and marketing.
Gerry McNicol, CEO of Distil, said: “We’re on a mission to help businesses transform their data from an expensive, time-consuming challenge into a powerful goal-achieving asset. In Mercia we have found the perfect partner to expand our product and accelerate the growth for Distil and its customers.”
Mercia has invested from its EIS funds. Kiran Mehta, Investment Manager at Mercia added: “In most companies, customer data is scattered across different channels and tools, yet it holds valuable insights that are critical to business success. Distil uses sophisticated AI to bring all the data together and give businesses a 360-degree view of clients’ spending patterns, buying signals and behavioural traits.
Single centralised customer data viee
Founded in 2018 by data scientist Gerry McNicol, Distil.ai’s platform brings together data from different sources across a business and distils it into a single centralised customer data view. It enables companies to optimise engagement for every single customer and reduces the time it takes to achieve an uplift in sales. The Exeter-based company has attracted high-profile customers including CrowdCube, Eden Project, CMO Stores, Flavourly and AQL.