Panintelligence raises £4.5m for US expansion
Data software developer Panintelligence has secured £4.5m in a funding round from YFM Equity Partners and Comhar Capital.
The Panintelligence ‘Pi’ suite of software is designed to help businesses use their data to trigger bespoke reports, visualise trends, and inform strategic decisions.
The business, led by CEO Zandra Moore, CTO Ken Miller and operations director Charlotte Bailey, was established in 2014 and employs 40 staff at its Leeds head office.
Originally developed in the credit and banking sectors, the software is now used in financial services, healthcare and education sectors.
YFM is investing £3.5m for a minority stake, alongside an additional investment of £1m by Comhar Capital.
“We’re immensely proud to have grown from a handful of people into a leading-edge BI software business with international clients,” said Moore.
“This Series A capital allows Panintelligence to take advantage of the huge opportunities we are seeing in global markets, particularly the US. We chose YFM and Comhar as our partners as we felt they shared our ambition to grow the business in the right way to maintain the culture and the brand.”
Mike Clarke from YFM and Craig Wilkinson from Comhar Capital will also join the Panintelligence board.
He said: “We quickly saw the value that Panintelligence delivers to its customers through an embedded product. The Pi Dashboard has the potential to be deployed across the globe.
“Panintelligence is exactly the type of high-growth business we want to support and fundraising now makes perfect sense. We are bringing the capital that will enable Zandra, Ken and a first-rate executive board to drive the business forward.”
Panintelligence software currently has over 200,000 users worldwide across a wide range of industry sectors and announced expansion to the USA in spring this year following its first US contract wins.