Insight, MissionOG lead £25m round for Featurespace

Kenny Wastell
29 January 2019

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Insight Venture Partners and MissionOG have led a ТЃ25m funding round for Featurespace, a UK-headquartered developer of analytics software for use in fraud detection and risk management.

Existing backers IP Group, Highland Europe, TTV Capital and Invoke Capital also took part in the round, alongside angel investor Robert Sansom.

The fresh capital will enable the company to invest in international expansion and product development. The business recently opened a new office in Atlanta, Georgia.

Previous funding
Featurespace first received VC backing in 2012, when Imperial Innovations Group led a £1.5m funding round for the company alongside Nesta, Cambridge Angels and Cambridge Capital Group.

Imperial then joined Nesta and Cambridge Angels in providing a £3m funding round for the business in 2014.

Imperial led a £6.2m round for Featurespace two years later, with TTV, Nesta and members of Cambridge Angels also taking part.

Highland Europe first invested in the company in 2017, leading a £16.5m round in which Worldpay Group, Invoke, Touchstone Innovations, Nesta, TTV and an unnamed private investor also took part.

Company
Founded in 2005 in a spin-out from Cambridge University's engineering department, FeatureSpace develops analytics software for use in fraud detection and risk management. The business has financial services clients across continental Europe, the UK, the US and Latin America. In addition to its presence in Cambridge and Atlanta, the company also has offices in London.

People
Insight Venture Partners – Jeff Horing (managing director).
MissionOG – Gene Lockhart (managing partner, chairperson).
Featurespace – Martina King (CEO).