£30M Funding for London AI Startup Faculty
Faculty, a London-based leading AI startup, raises £30m in growth funding.
05:01 26 May 2021
Faculty, a London-based AI startup, has recently announced that it has raised £30million in growth funding, the largest investment it has raised so far taking its total investment to nearly £40million.
Investors include Apax Digital Fund, Guardian Media Group Ventures, LocalGlobe, and one of Skype's founding engineers, Jaan Tallinn.
The firm will use the funds to further expand its services and grow its global customer demand for its customised AI solutions. It will also create more than 400 new jobs across its delivery, product and engineering teams to support its expansion plans.
Marc Warner, CEO & Co-Founder of Faculty, said: “It’s an incredibly exciting time for artificial intelligence, and for Faculty in particular. Too many organisations haven’t been able to realise the value of AI, because they haven’t had the tools to integrate it successfully into their business. Customers are rightly demanding high performance technology to unlock the power of data and maximise impact. Faculty can help elevate an organisation’s performance, whether this enables better operational decisions, or increasing ROI. Apax’s expertise and global network means we will continue to grow at pace, bringing the power of AI to even more customers, helping them to make effective, robust decisions with real-world impact.”
Mark Beith, Partner at Apax Digital, who joins Faculty’s board of directors, said: “Faculty is a world-leading AI company with cutting-edge technology, inspiring people and culture, and with phenomenal customer feedback. They enable customers to realise the tremendous value of AI quickly but responsibly, providing robust, fair and explainable AI, with advanced data privacy. We have seen the power and impact of their solutions first-hand, as a client, and are thrilled to partner with Marc, Angie, Andy and the team to support their global expansion.”