The Top 50 AI Companies in the UK | 2021 Ranking

| John Davis

Artificial intelligence (AI) is consistently a top-performing sector, with  1,412 high-growth AI companies currently operating in the United Kingdom. These startups and scaleups have collectively raised £19.6b of equity investment across 6,123 funding rounds, employ an estimated 23.8k people and generate £1.62b in reported turnover. 61% of UK AI businesses are based in London

Artificial Intelligence is about applying deep learning and machine learning—specifically through algorithms—to build machinery and software capable of completing complex tasks. For instance, tasks that require emotion, ‘human-like’ contextual problem-solving, or the use of real-time neural network analysis.

And it doesn’t exist in a vacuum. Instead, AI solutions span almost every discipline and sector that we track— from fintech companies, to mobile apps and chatbots, healthcare and self-driving cars. The leading sector crossover for artificial intelligence companies is with Software-as-a-Service (SaaS).

We’ve profiled the top 50 AI companies driving growth in the UK, which have each attracted at least £20m in investment—providing jobs, generating turnover, and creating innovative technology along the way.

OneTrust

Total funds raised: £546m

Cybersecurity company OneTrust develops AI software that helps users to manage and secure their privacy and third-party risk. It is one of the UK’s leading unicorn companies

OneTrust has raised £546m across three investment rounds. All of their rounds have been megadeals (investments worth over £50m), with its most recent and largest round totalling an impressive £224m. Investors include Insight Partners, Technology Crossover Ventures (TCV), and Coatue Management. OneTrust has also acquired two startups, DataGuidance and Optanon, to integrate their privacy and security compliance technology into the OneTrust platform. 

The AI company is co-headquartered in London and Atlanta, with other key offices in locations such as San Francisco and  New York. It has over 7,500 users, and employs over 1,300 people across the globe. Most recently, OneTrust appeared on The Regtech 100 high-growth listing of 2021.

Graphcore

Total funds raised: £528m

Bristol-based AI startup Graphcore has grown from strength-to-strength since 2016, raising seven funding rounds and reaching unicorn status after just four years of trading. Graphcore is in the semiconductor processing chip industry, developing and manufacturing chips made specifically to accelerate artificial intelligence and machine learning tasks. 

Graphcore’s chips utilise Intelligence Process Unit (IPU) technology. These chips house 1,472 separate IPU-Cores, capable of executing 8,832 separate parallel computing threads.

The company has raised more than half a billion pounds of investment, and is partnered with large tech companies such as Microsoft and Dell Technologies. Graphcore has over 400 employees in offices in London, Cambridge, Oslo, Beijing, Seoul, and across the US.

Babylon

Total funds raised: £518m

Babylon has developed a mobile app that enables patients to book and conduct a remote video consultation with a GP. The app employs artificial intelligence, enabling patients to talk to a chatbot nurse about symptoms. GPs can also consult patients virtually through the app rather than at a clinic. 

The company has secured £518m across three funding rounds, the majority of which was raised in 2019. Kinnevik, Munich Re’s Ergo Fund, Public Investment Fund, Vostok New Ventures invested a monumental amount of £454m into Babylon that year, which has helped to develop its R&D capabilities and support expansion into the US and Asia.

The artificial intelligence company leads the market of mobile app and AI-based healthcare, serving millions of users and over 170 global partners across four continents. Babylon services are now offered in partnership with the NHS, and in 2020 it partnered with Mount Sinai Health Partners in the US to provide virtual consultations for people insured through Medicaid.

BenevolentAI

Total funds raised: £246m

BenevolentAI develops artificial intelligence and machine learning technology to speed up scientific discovery through mass analysis of datasets.

The company was the third British startup to ever achieve unicorn status, following Zoopla and JustEat. It has raised £246m across six rounds to date, with investment from Woodford Investment Management and Temasek.

BenevolentAI entered the Future 50 accelerator last year and is due to graduate in 2022. It has recently appeared on several high-growth lists, including The London Tech 50 and the Alantra Pharma Fast 50, both in 2020. The company now has over 280 employees in London, Cambridge, and New York.

Darktrace

Total funds raised: £173m

Darktrace has developed security software that identifies behavioural anomalies, alerting clients to potential security threats. Its software is deeply intertwined with AI-powered machine learning, and Darktrace was the first company to develop an AI system for cybersecurity purposes. It has released a number of additional AI technologies since its inception in 2013, such as Darktrace Antigena, an autonomous response technology that reacts to cyber-attacks in real-time.

The company has secured £173m across nine funding rounds from a long list of investors, including Hoxton Ventures, Insight Partners, Invoke Capital, Summit Partners, and TenEleven Ventures.

The University of Cambridge spinout has over 1300 employees with 44 offices globally. The company doubled its customer base in 2020, with solid growth across Asia Pacific. Darktrace attended the Future 50 accelerator in 2018 and has appeared on over 20 high-growth lists over the year, including the Fast Track Tech 100 and FT 1000.

Thought Machine logo

Thought Machine

Total funds raised: £123m

Thought Machine  develops Vault, fintech software which enables banks and financial service providers to centrally manage a range of products.

It develops core banking platforms that can be used to run day-to-day operations, improving cost, speed, and adaptability compared to legacy systems. The software is accessed through an API and has a large artificial intelligence component. 

The company has secured £123m of capital across six funding rounds, with investment contributed by Backed VC, Draper Esprit, IQ Capital Fund, Playfair Capital, and British Patient Capital. Its latest fundraising, raised in July 2020, valued the company at £221m pre-money.

Exscientia

Total funds raised: £91.0m

Exscientia uses artificial intelligence for drug discovery, providing an indication of which molecules are most likely to make successful drugs. 

Investors into the company include Novo Holdings, Bristol-Myers Squibb, Celgene, Evotec, and GT Healthcare. It has also received two grants, totalling £4.31m. One grant came from Horizon 2020, and one from The Bill & Melinda Gates Foundation.

Exscientia is a University of Dundee spinout and featured on the Fast Track Tech 100 in 2020. In 2021, the company launched its first office in Miami as part of its international expansion. The company now has offices in the UK, US, and Japan.

Featurespace

Total funds raised: £83.5m

Featurespace has developed analytics and AI software that aims to profile online customer activity and predict future individual behaviour. It also aims to prevent and intercept online fraud and optimise marketing conversions in real-time. The company’s primary technology is a platform called Adaptive Behaviour Analytics, which discerns between real customers and fraudulent entities. 

Featurespace is a spinout from the University of Cambridge. It attended the prestigious Future Fifty Accelerator in 2018 and appeared on the Deloitte Fast 50 thrice, alongside a host of other high-growth lists, including the Fast Track Tech 100 in 2020.

The AI company has raised £83.5m across eight rounds, with backers including some of the UK’s leading spinout investors, such as IP Group. Other backers include local Cambridge investors like Cambridge Angels and Cambridge Capital Group, alongside some larger-scale firms like Insight Partners and Merian Chrysalis Investments.

complyadvantage logo

ComplyAdvantage

Total funds raised: £77.1m

ComplyAdvantage has created a cloud-based risk analysis platform. Using artificial intelligence, the software draws from a large database of financial crime information, flagging possible risks to companies in real-time. The company works particularly closely with banks to combat financial crime, such as money laundering and cases of financing terrorism. It also ensures compliance with regulations such as Sanctions, AML and CTF.

The AI company has attended two accelerators: the Future Fifty accelerator and AG Elevate accelerator. ComplyAdvantage has been named in numerous high growth lists, most recently the Deloitte Fast 50 in 2019 and the Fast Track Tech Track 100 in 2020.

Investors into ComplyAdvanatage include Balderton Capital and Index Ventures.

Roborace

Total funds raised: £72.7m

Roborace organises motor racing championship for self-driving cars, all of which are electric and utilise artificial intelligence software. In December 2020 the company held its Season One Beta at Thruxton in the UK, live-streamed through popular platforms such as Twitch. Teams that raced in the tournament included Arrival Racing—powered by UK unicorn Arrival—MIT Driverless, and Carnegie-Mellon University. The hardware for each car is standardised, meaning that the only differentiator is the AI technology developed by each team.

The cars operate physically on the racing track, but also within a mixed ‘computer reality’, where obstacles and rewards are overlaid on the track virtually. The algorithms driving the cars must react to virtual obstacles and go out of their way to collect items—such as coins—which will either add penalties or reduce their overall racing time. This ensures variety in the races, as the AI algorithms developed by each team calculate the ‘cost’ of routes in real-time, working out the path of least resistance. 

Roborace is operating in stealth mode, raising all of its £72.7m funding from unannounced sources.

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Partnerize

Total funds raised: £72.1m

Partnerize  has developed AI software that allows clients to track, manage and optimise their online advertising through pay-for-performance partnerships. 

Through Partnerize, companies can organise commission rates, automate payments, detect partnership fraud, and view big data insights. The company has raised £72.2m across 12 fundraising rounds from investors DN Capital, GP Bullhound Asset Management, Accel-KKR, Commercial Banking Loans, Greycroft Partners, and Mithril. 

Partnerize is a 20% scaleup company and has attended the Future 50 accelerator, along with making frequent appearances on high-growth lists like Deloitte Fast 50 and The Northern Tech 100. The company has over 1,800 clients that account for over $7b in annual sales and $600m in partner payments.

Quantexa logo

Quantexa

Total funds raised: £71.7m

Quantexa is a cybersecurity firm that develops AI technology to secure organisations’ data and flag illegal activity. It works closely with industries that handle large datasets, such as banking, public sector, and e-commerce to create analytical models that uncover data risk, reveal opportunities, and enhance decision making.

The company has secured £71.7m of investment, with backing from AlbionVC, Dawn Capital, HSBC Enterprise Fund, and Accenture, among others. The bulk of this funding came from a £50.8m raise in July 2020, invested for the purpose of expanding into new markets.

Quantexa has attended both the Microsoft ScaleUp (London) accelerator and Tech Nation’s Future Fifty accelerator. It has also appeared on lists including the Telegraph Tech Hot 100, Fast Track Tech Track 100 in 2020, and the 2021 edition of The Regtech 100.

DivideBuy

Total funds raised: £63.0m

Part of the UK’s Buy Now Pay Later sectorDivideBuy has built artificial intelligence software that can be integrated into e-commerce checkouts, facilitating payment with credit options. Purchases up to £3,500 can be spent using credit, following a brief online credit check and agreement to repayment scheduling. 

The Newcastle-based company made headlines in 2020 for ranking first place in the Deloitte Fast 50, a spot that is usually taken by startups based in London. The company averaged a three-year revenue growth rate of 20,733%. 

DivideBuy works with leading platforms such as Shopify, WordPress, and WooCommerce, using machine learning to quickly assess applications, creditworthiness, and fraud. DivideBuy has raised £63m across five funding rounds to date, from investors such as Paragon Bank Business Finance, Shawbrook Business Finance, and Souter Investments.

Oxbotica

Total funds raised: £61.1m

Oxbotica develops software designed to power self-driving cars, with technology that uses cameras and lasers to sense and navigate the surrounding environment. The company’s product draws heavily on AI and is deployed across sectors from mining to construction.

Oxbotica was spunout from the University of Oxford—the most active university for spinouts in the UK—by professors Paul Newman and Ingmar Posner. Oxbotica led the first fleet trial of autonomous vehicles in London streets in 2019. It is still investing heavily in its product, and negotiated several partnerships in 2020—one with Navtech to collaborate on radar-based navigation and perception systems, and one with Cisco to pioneer the OpenRoaming platform.

The tech company has raised £17.8m across 13 rounds from investors including BGF Growth Capital, BP Ventures, IP Group, and then University of Oxford Innovation Fund.

Huma

Total funds raised: £57.3m

Huma—previously trading as Medopad—develops a web-based portal that works with hospitals and healthcare professionals to contain, manage, and collect health records. This data is then accessible to patients through a mobile app.

Alongside its main goal of managing healthcare data, Huma also works on digital health insights and has developed wearable technology to detect digital biomarkers and assess health in real-time. Huma has been working with many organisations around the world—including the NHS—to monitor COVID-19 patients remotely.

The company has secured £57.3m in fundraising from investors including Healthbox, Nexus Investments, Bayer, and NWS Holdings. Last year, the company acquired two businesses: BioBeats, stress and productivity biometric startup, and Tarilian, an optoelectronic sensor company that makes technology for measuring blood pressure and heart monitoring.

Healx

Total funds raised: £53.3m

University of Cambridge spinout Healx develops web-research based software to help find potential treatments for rare diseases by matching them to existing compounds. Healx is a drug discovery company, similar to BenevolentAi and Exscientia, with a particular focus on treatments for rare diseases.

The AI company has raised £53.3m across four fundraising rounds. The capital mainly comes from large venture capital investors: Amadeus Capital Partners, Atomico, Balderton Capital, and Intel Capital. Its latest round, which totalled £43.9m in October 2019, valued the company at £133m pre-money.

Healx has ranked on numerous high-growth lists, including Tallt Disrupt 100 in 2017 and Britain’s Fasting Growing Businesses Top 100 in 2018 and 2019. It also attended the Future 50 accelerator in 2017.

Cambridge Quantum Computing

Total funds raised: £53.0m

Cambridge Quantum Computing has built a quantum computer system called “t|ket>”. The company utilises algorithms run through the exponential computing processing of quantum to solve issues surrounding big data. 

The company has raised £53.0m across eight funding rounds and £152k from grants. Its most recent and largest round to date was for £33.6m, at a valuation of £226m pre-money. The round was backed by Alvarium Investments, Honeywell Ventures, IBM, JSR Corporation, Serendipity Capital, and Talipot Holdings. 

Decibel

Total funds raised: £52.7m

Decibel provides businesses with AI software that analyses how consumers use and interact with the company’s websites and mobile apps. It analyses data points collated by user journeys on-site, pinpointing where the digital experience is lacking through session replays, heat maps and more.

The company uses AI algorithms to grant a ‘Digital Experience Score’, telling the client how they can improve and streamline their website for customers—aiming to improve engagement, conversion rate, and return rate.

Decibel has raised £52.7m in equity fundraising across three rounds. Its investors are Draper Esprit, Eight Roads Ventures, Perwyn, and Ventureforgood.

In March 2020 it was announced that Decibel would be joining the Future Fifty Accelerator. This is the third accelerator it has attended, following Upscale and the Mayor’s International Business Programme.

Streetbees

Total funds raised: £51.1m

Streetbees is one of the UK’s top female-founded business. It collects various data points from users and turns them into actionable insights for clients. Users submit snippets of their everyday life in exchange for a small fee, either through photo, video, or message. Through large-scale machine learning analysis, this media is turned into analytics that can reveal trends and insights, allowing clients to better understand their customers. Clients can also commission Streetbees to ask users specific questions about brands, feelings, and actions.

The company terms itself as the ‘first human intelligence platform’, and has over 3.5m users from 190 countries. It was featured on the Deloitte Fast 50 ranking last year and also worked with the NHS to assess the public’s mood during lockdown. The company has now raised £51.1m across eight rounds from Atomico, Lakestar, LocalGlobe, Octopus Ventures, JamJar Investments, and BGF Ventures. This included a £30.7m round late last year, which was one of the largest investments of Q4 2020.

Five

Total funds raised: £48.0m

Five is developing artificial intelligence software to be used in autonomous-driving technology. It has completed its own self-driving technology, which has been tested on roads in London. Now, the company is looking to bring the technology to consumers.

Five has raised £48.0m from three funding rounds. Investors are as follows: Amadeus Capital Partners, Kindred Capital VC, Notion Capital, Direct Line Insurance Group, Lakestar, Sistema Venture Capital, Spring Partners, and Trustbridge Partners. It also won the grant project ‘Connected and autonomous vehicles‘, receiving £9.95m to fund further development of autonomous personal mobility solutions.

Bizagi

Total funds raised: £48.0m

Bizagi is a process automation platform, offering enterprise software designed to transform its clients into digital organisations. Its platform is used by organisations that handle a large volume of requests—like banks, insurance, and public sector organisations—to automate workflows.

Bizagi has raised £48.0m from just one funding round, and from one investor: Invus, an evergreen venture capital fund with over $8b under management. This was invested in September 2017 to accelerate Buzagi’s growth into focus markets, the US and Europe.

ContractPodAI

Total funds raised: £47.1m

ContractPodAI develops contract management software. It uses a blend of AI and machine learning to power legal contract management: reading, analysing, and interpreting the legal language and stipulations within—all through the cloud. The product is targeted toward law firms and corporations, to automate their contract processing and management.

The company has raised £47.1m in total, which mainly came from a July 2019 equity investment of £44.3m. Investors include Crowdcube, Insight Partners, and Eagle Investment. The company is looking to expand into the Asia Pacific region, and has made several C-Suite hires to support this.

Eigen Technologies

Total funds raised: £46.0m

Eigen Technologies provides a document intelligence platform, utilising natural language processing to take the most important data from contracts and paperwork. Using machine learning, the platform is able to parse and understand different documents, and become more efficient at recognising patterns over time.

Eigen Technologies has raised £46.0m from five funding rounds, backed by Dawn Capital, ING Ventures, Goldman Sachs, Lakestar, and Temasek. 

The company has featured on several key high-growth lists, including The Regtech 100 and The FinTech 50. It has over 150 employees in London and New York offices.

Tessian

Total funds raised: £44.4m

Tessian develops AI software designed to detect phishing, unauthorised and misdirected emails, aiming to prevent cybersecurity threats. The software works specifically on email security to avoid human error. By detecting unauthorised data sharing and flagging potential security threats, Tessian reduces operational risk and prevents data breaches for numerous clients across the financial services, law, and tech sectors.

Tessian has raised £44.4m from Accel, Amadeus Capital, Balderton Capital, Crane Ventures, LocalGlobe, Walking Ventures, Winton Investment, Latitude Investment, and Sequoia Capital. It also received a £100k grant from the UK project for Artificial Intelligence Email Security.

The company has just over 150 employees and is actively expanding currently, with offices in London, Boston, and San Francisco.

Tractable

Total funds raised: £40.8m

Tractable develops AI software designed to analyse photos of accidents and disasters— from car accidents to natural disasters—so that data-based estimations for repair costs can be calculated. The idea is that, by increasing the speed of damage assessment, the next steps of rebuilding and settling claims can be that much quicker. 

The company has raised £40.8m across four funding rounds, from Insight Partners, Entrepreneur First, Ignition Partners, and Zetta Venture Partners, among others. Tractable is headquartered in Islington, with offices in New York City and Tokyo.

Signal AI

Total funds raised: £39.4m

Signal AI is a media monitoring solution that uses algorithms to get the most valuable, tailored news and information to its respective clients. Other use cases for Signal AI include reputation management, spotting PR opportunities, regulatory compliance, and market intelligence. 

Its AI software monitors and analyses millions of information sources online, crawling the web and social media, and then filtering and disseminating the most crucial parts. 

The company has raised £39.4m across five rounds in total, with investment from Frontline Ventures, Hearst Ventures, Kreos Capital, LocalGlobe, and MMC Ventures, among others.

To date, Signal Ai has over 170 employees across offices in London, New York, and Hong Kong.

Envisics

Total funds raised: £38.8m

Envisics develops Dynamic Holography technology, that overlays information through augmented reality onto HUDs (head-up displays) in vehicles. This grants the driver key, real-time information—think navigation, stopping distance, and hazard warnings.  

The company raised equity investment for the first time in 2020, with £38.8m from General Motors Ventures, Hyundai, SAIC Capital, and Van Tuyl Companies. The investors intend to employ Envisics’ holographic tech in the next generation of vehicles. 

Envisics now has over 60 employees, all based in its Milton Keynes office. It is currently working on developing its technology and preparing to scale, with the production of the vehicles forecast for 2023.

Secondmind

Total funds raised: £38.7m

Secondmind develops machine learning algorithms that improve the decision-making of artificial intelligence robots, used in applications such as smart-city simulations and games. The company was founded in 2016 and is created by a team of researchers, data scientists, and machine learning engineers.

The AI company’s platform is called Secondmind Decision Engine. It can predict, plan, influence outcomes, manage risk, and make complex decisions. For example, one application of Secondmind platform would be using it to forecast demand, implement dynamic pricing, and optimise inventory stock levels. Essentially, the platform uses big data, AI, and visualisations to optimise business decisions.

Secondmind has raised £38.7m across five funding rounds. This capital was provided by a long list of investors, including Amadeus Capital, Cambridge Innovation Capital, Passion Capital, and Tencent.

Cytora

Total funds raised: £36.8m

Cytora has developed a platform to power commercial insurance and underwriting. The Cytora platform crawls the web for information, collating data and building risk profiles for insurance sectors and locations. Using machine learning, it analyses mentions of natural disasters and fires, to determine where risk areas are. 

The artificial intelligence company has raised £36.8m in equity investment through six rounds. Its primary investors are Cambridge Innovation Capital, Parkwalk Opportunities EIS Fund, The University of Cambridge Enterprise Fund, University of Cambridge Seed Funds, and Starr Investment. 

Founded and spunout from the University of Cambridge in 2014, the Insurtech works with leading global insurers such as Starr Insurance and AXA XL. The company has attended many accelerator programmes: Mayor’s International Business Programme, Future Fifty, Accelerate, Fintech Innovation Lab, and MassChallenge UK.

Patsnap

Total funds raised: £35.4m

Patsnap has created a web-based platform to help clients assess intellectual property patents, with access to patent expiry dates, licensing, renewal, and legal information of tech companies.

Patsnap is powered by artificial intelligence algorithms and natural language procession to parse patents and IP and extract and cross-match critical information. It can even analyse more complex documents, like clinical trials, chemical structures patents, and litigation records. 

The company has over 8,000 customers—including the likes of Tesla, Dyson, and NASA—in over 40 countries.

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Ripjar

Total funds raised: £34.7m

Ripjar develops AI software for large-scale data analysis. It was built by a team of data scientists, with co-founders Jeremy Annis and Tom Griffin previously working at GCHQ. The Ripjar platform aims to improve risk screening, bolster cybersecurity, and prevent financial crime.

Ripjar’s primary offering is called Labyrinth, which uses natural language processing to analyse and monitor clients’ data and activity. It can flag fraudulent transactions and expose high-risk individuals (such as politically exposed persons) or organisations (such as those associated with financial crime or terrorism).

The company has raised £34.7m in funding across three rounds from investors Winton Investment Management, Accenture, and Long Ridge Equity Partners. 

Ripjar had its biggest year for revenue so far in 2020, owing to increases in remote working and digitalisation throughout the COVID-19 pandemic. It has around 20,000 clients across the globe, and just over 60 employees so far. The company has attended Cylon and Fintech Innovation Lab accelerators in London.

Realeyes

Total funds raised: £34.5m

Realeyes is a spinout from the University of Oxford that develops facial recognition software using artificial intelligence. The technology collects and analyses customers’ expressions, providing real-time feedback on their response to online advertising. The company uses computer vision and artificial intelligence to pinpoint where digital experience can be optimised, ultimately aiming to create customer experiences that drive growth and conversions.

Realeyes has raised £34.5m across eight equity rounds, drawing interest from a long list of investors: Draper Esprit, Bellusega, Global Brain Corporation, Karma Ventures, Mobile Internet Capital, Smart Cap, Harbert European Growth Capital, and The Entrepreneurs Fund. it has also received two grants totalling £424k—one from the European Regional Development Fund, and one from the Correct and Efficient Accelerator Programming project.

The artificial intelligence company has appeared on numerous high-growth lists over the years, including the Deloitte Fast 50 twice and the FT 1000 once. It has just over 70 employees to date with offices in London, New York, Tokyo, and Budapest.

Harbr

Total funds raised: £34.3m

Harbr develops an internet-based AI platform designed to make big data more accessible, and helps companies tap into data that another organisation owns for business intelligence. It secures and organises the data into an accessible format, preparing it for exchange between enterprises.

Harbr can also help organisations commercialise and sell their data and to unlock data-driven business opportunities—think of branded data analysis and collaboration as a paid service. 

The company has raised £34.3m across three fundraising rounds. Investors are Dawn Capital, Backed VC, Crane Ventures, Seedcamp, BoldStart Ventures, and Tiger Global Management.

Healthily

Total funds raised: £33.7m

Healthily has created a healthcare assistant app that allows the user to diagnose health issues. Similar to Babylon, the Healthily app utilises artificial intelligence to dynamically check symptoms against health conditions. It does not aim to diagnose patients, but rather to let them know whether an appointment is the required course of action.

The healthcare company has raised £33.7m in total, contributed by investors Smedvig Capital, Orkla Ventures, and Reckitt Benckiser. The most recent investment totalled £22.7m, invested entirely by global health company Reckitt Benckiser. 

The company saw a 350% increase in usage throughout 2020, largely owing to its COVID-19 symptom-checking tool developed during the pandemic. It has over 100 employees and it partnered with large UK research organisations, such as Imperial College London, the Royal College of General Practitioners, and the NHS.

Velocity

Total funds raised: £32.8m

Velocity develops a luxury lifestyle app that uses artificial intelligence to recommend restaurants and venues to users. They can then book and pay for services through their mobile. Clients receive personalised recommendations based on previous purchases, with the app underpinned by machine learning algorithms that become more tailored and precise over time.

The company has secured £32.8m from seven funding rounds. Investors are DIG Investments, Lerer Hippeau Ventures, and Spark Capital. Additionally, Velocity has acquired three companies over the years: Uncover, Tab, and Cover Inc. Uncover was an app that allowed users to purchase cancelled reservations across London; Tab was a restaurant ordering and payment mobile app; Cover was a restaurant payment app. By acquiring these companies, Velocity has consolidated their expertise and technology into their own platform.

The company has appeared on a number of high-growth lists, most notably ranking 12th on the Deloitte Fast 50 in 2020, achieving a 3,107% growth rate. Velocity has offices in London, New York, LA and Miami, and offers experiences all across the world. It has around 50 employees to date.

Concirrus

Total funds raised: £31.6m

Concirrus is a software development company that uses real-time behavioural data to provide risk assessments for insurance providers and markets. Its product, Quest, uses big data and machine learning to analyse datasets, helping insurers to assess risk, reduce loss, and provide better services.

The AI company has raised £31.6m across six funding rounds from investors AlbionVC, Eos Venture Partners, IQ Capital Fund, Touchstone Innovations, and CommerzVentures. Its latest fundraising totalled £4.80m in exchange for a 5.7% stake, valuing the company at £48.6m. 

The company is currently focussing on expanding internationally, broadening its product offering, and diversifying across multiple business sectors. It has just over 100 employees to date with offices in London and Delhi.

LoopMe

Total funds raised: £30.7m

LoopMe sells Whitelabel adtech software. The platform works by monetising mobile apps with more effective advertisement delivery,  using artificial intelligence and data analytics to increase conversions and optimise campaigns. The AI software adapts to data in real-time, ensuring that the ads shown to users stay targeted. The technology also facilitates advertising insights and analytics.

Ballpark Ventures, BGF Growth Capital, Harbert European Growth Capital, Open Ocean, Holtzbrinck Ventures, and Impulse VC have collectively invested £30.7m into the company across seven funding rounds.

LoopMe is headquartered in Camden, and also has 11 global offices across countries such as the US, Canada, Singapore, and Ukraine.

Thread

Total funds raised: £29.4m

Thread operates a fashion stylist service that uses a combination of AI algorithms and human stylists to recommend outfits. It also allows consumers to purchase items. I

The company has raised £29.4m across five funding rounds between 2014-2018. Investors are Balderton Capital, Beringea, Crowdcube, Forward Partners, H&M CO:LAB, and YCombinator.

Thread has attended the Future Fifty accelerator and the Upscale Accelerator, along with ranking on the Fast Track tech Track 100 high-growth list in 2018 and 2019. The platform has partnered with hundreds of brands, including Hugo Boss and Levi’s.

SafeToNet

Total funds raised: £29.0m

SafeToNet develops AI software that aims to prevent children from being harmed online. The digital safeguarding startup uses patented AI technology to analyse text and language, looking for signs of cyberbullying and abuse. By analysing these behaviours, it can offer parents and children advice and alerts in real-time. The software is also available as a mobile app.

SafeToNet has raised £29.0m across eight funding rounds. Its named investors are crowdfunding platform Seedrs, and venture capital firms West Hill Capital and DuKlaw Ventures.

The company has attended the ELITE and Wayra London accelerators, in 2017 and 2018 respectively. Also, the company has acquired two startups: Visr, a Canadian online psychological analytics company, and Content Watch, a US-based online content-filtering software company.

Ravelin

Total funds raised: £28.5m

Ravelin has developed fraud prevention software, which processes transaction data from businesses and uses machine-learning to help them identify fraud attempts.

Ravelin has secured £28.5m of equity fundraising through six rounds. Investors are Amadeus Capital, Draper Esprit, Passion Capital, Playfair Capital, Barclays, and Blackfin. It raised its most recent and largest investment in July 2020: £15.9m in exchange for a 19.7% stake.

The company has attended two accelerators: Barclays Accelerator (powered by Techstars), and the Mayor’s International Business Programme accelerator. It has also placed on various lists, such as the Startups 100 and Top Britain’s Fastest-Growing Businesses—both in 2019. Ravelin has just under 90 employees working in offices in London and New York, serving clients in 185 countries.

Pupil

Total funds raised: £28.1m

Pupil develops AI software that reconstructs real-word spaces digitally. The platform is cloud-native and is powered by Amazon Web Services.

Around 10 million square feet of real estate has been captured using the AI company’s software. Some use-cases of Pupil include: creating marketing assets, visualising design for architects and engineers, and providing hyper-accurate digital assets.

Pupil has raised £28.1m across four funding rounds. The company’s only named investor is City Development Limited.

Beamery

Total funds raised: £26.7m

Beamery is a talent platform that enables tech companies to search for, connect, and communicate with potential employees.

The company has raised £26.7m across four funding rounds. Investors include Edenred Capital Partners, Index Ventures, LocalGlobe, Microsoft Ventures, AngelPad, EQT Ventures, GP Ventures, Grupa Pracuj, and Workday Ventures.

Based out of Hackney and founded in 2012, it graduated from the Upscale accelerator in 2018. In 2020, the company ranked in tenth place on the Deloitte Fast 50 list, having grown its revenue at an impressive rate of 3,541% over the past four years. 

Beamery has offices in London, San Francisco, and Austin, with over 180 employees. The company achieved a record quarter in Q2 2020 during the pandemic.

Chip

Total funds raised: £26.0m

Chip has developed a fintech mobile app that connects to current accounts and uses artificial intelligence to determine how much users can afford to save, automatically putting this amount aside. One of Chip’s USPs is offering competitive interest rates on savings.

Founded in 2016 and based in London, Chip has raised £26.0m to date across six funding rounds—almost exclusively from crowdfunding campaigns on Crowdcube. Its most recent investment was in September 2020, when Chip secured a £10.7m equity and loan fundraising via Crowdcube and the government’s Future Fund. The Crowdcube campaign reached its target after just an hour.

ZOE

Total funds raised: £25.3m

ZOE is a nutrition and personal health startup that utilises machine learning to provide users with personalised dietary recommendations. Using biological data, the AI technology takes both the genome and microbiome of the individual into account.

Users are sent out home tests which determine the presence of certain gut microbiomes and blood sugar responses. Users then use the ZOE app to track and understand the right foods for them.

Last year, the startup helped the NHS and other healthcare services to understand the pandemic. ZOE launched a COVID Symptom Study to over 4.5m users to gather data on COVID-19, using algorithms to predict pandemic hotspots, analysing the link between nutrition and the virus, and identifying lesser known symptoms. 

The company has raised £25.3m across three funding rounds. Since 2017 the team has grown from five people to over 60 employees, with offices in London and Boston.

Metail

Total funds raised: £24.3m

Metail  has developed 3D clothing software, which can be used in online fitting rooms to allow users to try on clothes virtually. It can also integrate with other retailers‘ websites. The augmented reality try-before-you-buy solution allows customers to shop online with more confidence, with Metail claiming 94-96% accuracy calculating clothing size through 3D modelling and artificial intelligence. 

The AI company has raised £24.3m across seven fundraising rounds. It has also won £1.12m through seven grants, each awarded by Innovate UK.

Metail has attended three accelerators: Upscale, Microsoft ScaleUp, and the Business Growth Programme. It also appeared on the Createch Ones to Watch high-growth list in 2019. The company has around 20 employees with offices in London, Cambridge, and Singapore.  

WeFarm

Total funds raised: £24.2m

WeFarm develops AI technology that allows farmers in the developing world to access farming information from their mobile phones. WeFarm functions as a marketplace and networking community, primarily for small-scale farmers. One of its unique offerings is that WeFarm can be accessed without internet connection, through SMS instead. Farmers can access local suppliers, sell their excess harvest, and ask for advice. 

WeFarm has raised £24.2m in equity investment, invested by LocalGlobe, AgFunder, Accelerated Digital Ventures, June Fund, Norrsken Foundation, and True Ventures.

The company has attended the Upscale accelerator, Wayra London Accelerator, and the “Go to Grow” Urban Infrastructure Business Programme. It has also ranked on various high-growth lists over the years, such as the Tallt Disrupt 100, and the Start-Up 101.

DigitalGenius

Total funds raised: £23.8m

DigitalGenius develops customer AI service chatbots using machine learning to integrate with existing messaging applications and CRM software. It also develops Fingenius, a speech recognition software for banks that allows customers to ask questions vocally or by text.

The company uses deep learning to understand conversations and automatically send appropriate messages, and automate parts of customer support in a way that understands customer objectives and how to resolve them. It can connect with backend systems to carry out tasks with complexity, such as approving and processing refunds. DigitalGenius aims to improve the customer experience while reducing operational costs.

The artificial intelligence company has raised £23.8m across five funding rounds from an extensive list of investors. This includes Global Founders Capital, Lumia Capital, MMC Ventures, Salesforce Ventures, and Lowercase Capital.

EverLedger

Total funds raised: £23.5m

Everledger develops AI technology to facilitate transparent trade of assets and information on high-value products, such as diamonds, wine and art. The platform can be used to buy and search for assets, connect with brands and partners, and sell assets securely. 

The artificial intelligence company uses a combination of technologies for security and efficiency, such as blockchain and IoT. Sellers can prove the provenance of their items with digital certificates and exchange receipts, information about the characteristics, and ownership of assets, and even earn badges for trust markers such as Environmental Compliance and Chain of Custody.

Everledger has secured £23.5m across three funding rounds. The company is used by top organisations such as The World Economic Forum, Tencent, and Moyo Gems.

Kheiron Medical

Total funds raised: £23.4m

Kheiron Medical develops machine learning based medical imaging tools for the medtech sector. Its primary mission is to aid doctors and radiologists to detect breast cancers earlier through deep learning technology. Its software, Mia, received European regulatory clearance in 2018, having demonstrated state-of-the-art performance in an independent, multi-centre clinical study in Europe.

The company has raised £23.4m across six equity rounds, from investors Atomico, Connect Ventures, Hoxton Ventures, Entrepreneur First, Exor Seeds, and Greycroft Partners. Additionally, Innovate UK has awarded seven grants to Kheiron Medical, totalling £1.59m.

The artificial intelligence company has attended the Entrepreneur First and Upscale accelerators in 2016 and 2020 respectively.

Builder.ai

Total funds raised: £22.6m

Builder.ai uses AI technology and software developers to help clients build their own products without software engineers. It allows users to turn ideas into specialised mobile apps, websites, and other technologies (such as wearables) using their proprietary software builder. It also offers completely pre-packaged apps, aimed at e-commerce businesses.

The AI company also provides cloud computing services, claiming to have saved customers over $4.5m in cloud spending in 2020. Builder.ai is partnered with a number of top organisations, such as AWS and Microsoft Cloud.

Builder.ai has secured £22.6m in equity investment. Deepcore, Jungle Ventures, and Lakestar backed the investment in November 2018. This was one of Europe’s largest ever Series A funding rounds at the time.

Today, the company has just under 250 employees so far, with offices in London, San Francisco, and Gurgaon, India.

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