MMC and 83North invest $3.4m in GI

GI will use the funding to invest in new staff and product development. A group of business angels, including Indeed.com founder Paul Forster, also took part in the round.

MMC recently invested $2m in another SaaS business, Reading-based Invenias, which provides search software for the recruitment sector.

83North, formerly Greylock Israel, has a history of investing in London start-ups. In 2014, the VC led an £18m round for fintech business Ebury and took part in a $10m series-A for transport information app Citymapper.

Company
Headquartered in London and founded in 2011, Growth Intelligence analyses web data for use in digital advertising and marketing.

People
Alan Morgan, chairman and co-founder of MMC, and Forster will both take seats on the board at GI. In addition, 83North partner Laurel Bowden and Simon Menashy, an investment director at MMC, also worked on the deal. Tom Gatten is founder and CEO of GI.

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Greylock Partners
• MMC Ventures