NVM Private Equity has invested £4m in global text and big data analytics business Hello Soda.
The investment will enable the company to continue its global growth plans and raise the profile of its offerings in the ID verification, risk and personalisation verticals.
The transaction is being jointly funded by NVM Private Equity alongside an additional £1.5m venture debt facility from Clydesdale and Yorkshire Bank’s Growth Finance team.
The company, which is headquartered in Manchester’s Piccadilly Plaza, as well as in the US and Thailand, specialises in providing advanced text analytics software solutions to customers across six continents.
The business has grown rapidly since its launch in 2013 and has customers in the UK, USA, Mexico, Australia, Spain and South Africa.
Founder and CEO James Blake, said: “NVM are a great cultural fit for us and it’s fantastic to work with a team that truly share our values and vision of a more inclusive digital world. Working with NVM will enable us to really ramp up our global growth to better support our existing and prospective clients and we’re very excited to see the impact that our innovations will have.”
Liam May, Investment Manager of NVM Private Equity added: “Hello Soda already has a strong market position and great growth potential across a number of sectors and geographies. With the capital to pursue its ambitions now in place, combined with leading, innovative technology and a young, entrepreneurial management team, this is an extremely exciting time for the business.”
