Blackfinch Ventures has invested £700,000 in innovative tech start-up Warwick Analytics.
Founded in 2011, this London-based firm is an Artificial Intelligence (AI) based data spin-out from the University of Warwick.
Warwick Analytics delivers powerful text analytics for contact centres based on proprietary machine learning.
Getting accurate, meaningful information from unstructured data sets such as customer reviews can be a challenging prospect. However, Warwick Analytics has achieved this by using AI technology not only to identify and label topics and concepts, but also to account for the subtleties of sentiment and context, heralding a major development in text analysis.
This will help contact centres and service providers gain more accurate customer insights and see flagged issues before they escalate, enabling them to implement solutions sooner.
For example, a large travel operator recently applied the technology from Warwick Analytics to its incoming customer data. It improved customer satisfaction by 18% and reduced its Average Handling Time by 8%, all within a few weeks.
Richard Cook, CEO and Founder, Blackfinch, said: “The platform’s ability to analyse customer sentiment is impressive. We’re delighted to invest at this crucial stage in the company’s development.”
Warwick Analytics is on a mission to make machine learning easy, accurate and omnipresent. It is working with leading global brands across hospitality, retail, finance and telecommunication industries to automate processes and advance the deployment of AI.
Dan Somers, CEO at Warwick Analytics, said: “As we move the proposition forward, we need larger institutions with deeper pockets and richer networks. Blackfinch really understands where we are in our life cycle and has the financial clout, expertise and connections to help take us to the next level.”
Blackfinch Ventures provides investment to innovative technology start-ups. The team applies its extensive experience and broad network of relationships to deliver end-to-end support for companies, throughout the investment process and beyond. It works with founders over the long term, developing businesses that can transform some of the biggest markets in the world.
Dr Reuben Wilcock, Ventures Director at Blackfinch, said: “We were highly impressed with the experienced and dedicated team at Warwick Analytics and are looking forward to being part of its rapid growth and market expansion in the future.”
Blackfinch Ventures is a specialist in Enterprise Investment Schemes, recognized for structured risk mitigation, robust processes and adaptation to legislative change.
The company continues to enable investment in fast-growing UK companies and is looking to expand its portfolio and invest in further firms.