detected closes latest funding round, bringing total raised to GBP2m
E-commerce spedcialist detected has raise GBP900,000 in its latest funding round bringing total funding raise to GBP2 million.
Participants in this round include existing angel investors and institutional stakeholder EmergeVest, plus a new tranche of high-profile investors including: Huw Slater - COO of TravelPerk; Laurence Guy - Founder and CEO of We Are Pentagon; Tink Taylor - Founder & President of dotMailer and Founder of dotDigital Group plc; Ed Hill - SVP EMEA, Bazaarvoice; and Maropost Ventures.
Slater says: “detected has the winning trifecta: the right team at the right time with the right idea. I’m excited to invest in and support this dynamic young company to build on its already impressive traction.”
detected Chairman Rob Barnett says: “The business continues to make rapid progress, and we are well supported by our existing and new investors who share our vision.”
Liam Chennells, Chief Executive Officer at detected, says: “Twelve months ago, detected was an idea; the opportunity to build a business capable of solving an existential problem facing the entire eCommerce industry. Buyer trust, and for marketplaces, knowing who your sellers are. I couldn’t be prouder of our team and what they have achieved already.
“We have built a completely bespoke AI-powered platform that draws on seller information in more than 160 countries and checks over 1 billion business records to create a consistent profile for every online seller. We are actively solving the challenge of Know Your Business (KYB) requirements for marketplaces, and this new investment lets us rapidly scale the value we provide customers around the world.”
detected will use this capital to grow its team, develop its technology further and capitalise on its commercial traction.
This investment round follows a pre-seed round in September 2020 and a seed round in November 2020, which saw TrustPilot Chief Technology and Product Officer, Stephen Garland, join the company’s advisory board.