Maven invests £2.5m in AI firm Filtered Technologies
Maven Capital Partners, one of the UK’s most active private equity houses, has today announced that it has completed a £2.5 million investment to support the continued growth of pioneering software developer Filtered Technologies Limited.
London-based Filtered Technologies provides advanced, AI-driven learning and development software to the corporate market, as well as training content to the corporate and retail markets.
Maven’s investment will help to accelerate Filtered’s continued technological innovation and further strengthen its highly regarded customer success and sales teams as the business grows.
Filtered was founded in 2009, originally as a provider of tailored Microsoft skills training courses, which it still operates under the successful brand Excel With Business (“EWB”) and has now served more than a million users.
More recently Filtered has developed magpie, a market-leading intelligent learning recommendation engine and the main driver of the company’s anticipated growth.
Magpie’s proprietary algorithm pulls together a client’s internal training materials, which it integrates/dovetails with additional external materials to provide a personalised Learning and Development (“L&D”) resource for each employee.
Magpie already has an established high-quality client base, including global brands such as Proctor & Gamble, Sainsbury’s, Siemens and EDF.
Magpie’s AI engine is market-leading in the sector, bringing major benefits to clients either as a stand-alone product or integrated with their other L&D systems.
Crucially this innovative approach increases the measurable impact of training and reduces the time taken for staff to reach proficiency in essential business skills.
With the global corporate e-learning market estimated to be worth more than $30bn, and seeing consistent growth, there is a clear market trend towards the use of in-house e-learning to provide more personalised development.
Led by a dynamic senior management team, Filtered’s pioneering AI technology offers a solution that addresses the learning and development needs of progressive businesses.
Filtered has recognised that corporate clients are looking to mitigate the increasing influence of information overload and instead want to make better use of existing content and resources through innovative Learning and Development technologies.
Magpie provides expert curation of materials, making algorithmic recommendations and intelligently placing relevant content into work flow and where employees are based.
Marc Zao-Sanders, CEO & co-founder, commented: “Corporates have grown tired of yet more platforms and content. They don’t need more of these.
“What they need is to make better use of what they have through expert curation, algorithmic recommendations and intelligently placing this where employees are, in the flow of work.
“This investment signals a shift in Learning and Development towards consumer-grade technologies and experiences and enables Filtered to lead that charge.
“And Maven are the ideal investors for us: smart, straightforward and interested in making the future of work a better, happier one.”
Gareth Price, Investment Director at Maven, commented: “We are delighted to be supporting the continued growth of the ambitious team at Filtered Technologies.
“Magpie is an exciting, innovative product that is receiving a lot of interest from the corporate market, driven by increased demand for cost-effective, innovative approaches to implementing learning and development across their businesses.
“Filtered is targeting sustained growth through magpie and already has an established profile in the sector among high-profile global brands. We look forward to working with Marc and the team to help the business deliver on its growth plans.”