Merian Chrysalis leads £30m in Featurespace

The round also included existing investors IP Group, Highland Europe, MissionOG, TTV Capital and Invoke Capital Partners.

Following completion of the transaction, IP Group will hold a direct undiluted beneficial stake of 19.7% in Featurespace. The directors expect that this transaction will result in a direct unrealised fair value gain to IP Group of approximately £10m compared with Featurespace's last financing round, and that its holding will be valued at approximately £40m. IP Group committed £1m to the fundraising.

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.

Insight Venture Partners and MissionOG led a £25m funding round for Featurespace in January 2019.

Company
Founded in 2008 in a spinout from Cambridge University's engineering department, Featurespace develops analytics software for use in fraud detection and risk management. The Cambridge-based 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
Merian Chrysalis – Richard Watts (portfolio manager).
IP Group – Jon Edington (partner).
Featurespace – Martina King (CEO).

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