Panintelligence secures £4.5m Series A funding
Panintelligence, the Leeds-based data visualisation, reporting, and analytics software developer, has secured £4.5m Series A funding from YFM Equity Partners and Comhar Capital.
The Panintelligence ‘Pi’ suite of software enables businesses to use data in almost any format to trigger bespoke reports, and visualise trends in real-time, helping businesses to lower costs and inform strategic decisions.
Earlier this year it reported a 23% jump in first-half turnover to £1.1m, having grown turnover by 25% to £1.8m over the whole of 2018.
Originally developed in the credit and banking sectors, the software has a security-first ethos that has proved successful in highly regulated sectors including financial services, healthcare and education. YFM is investing £3.5m for a minority stake, alongside an additional investment of £1m by Comhar Capital.
Moore said: “We’re immensely proud to have grown from a handful of people into a leading-edge BI software business with international clients.
“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, investment director at YFM and Craig Wilkinson from Comhar Capital will also join the Panintelligence board.
Clarke said Panintelligence was "exactly the type of high-growth business we want to support" and it had the potential to be "deployed across the globe".
Lead advisers on the fundraising were Jim Whittaker and Robert Umpleby of Grant Thornton's Leeds-based corporate finance team; legal advice was provided by James Foster and Sophie Davies of Shoosmiths, and by Freeths’ Andy Francey and Megan Atack.
Panintelligence software currently has over 200,000 users worldwide across a wide range of industry sectors, from retail and education to local government and healthcare. Earlier this year it won global retail tech business Flooid, which has customers such as Marks & Spencer, John Lewis and US firm Walgreens.
The firm announced expansion to the USA in spring this year following its first US contract wins.