Analytics software firm MediaGamma has received a £2m cash injection.
The startup, which has built an enterprise-grade reinforcement machine learning platform, drew support from the UCL Technology Fund, ParkWalk Advisors and the London Co-Investment Fund.
MediaGamma will use the cash to continue developing its SaaS product and hire across the board.
Rael Cline, CEO, MediaGamma, commented: “This investment will enable us to harness the full potential of our technology by building a self-serve product. This takes advantage a growing appetite from companies to build their own machine learning capabilities, taking control and demanding transparency over the datasets.
“We will look to add more product development and sales expertise to our team to augment this process, while working in partnership with UCL academics at the global forefront of reinforcement learning innovation.”
The startup was spun out by UCL Business four years ago in a bid to commercialise research carried out by Professor Jun Wang (pictured).
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This is the second investment the UCL Technology Fund has completed in partnership with LCIF.
David Grimm, investment manager of the UCL Technology Fund, added: “MediaGamma’s technology has, in a competitive field, proven itself to have world leading capabilities. We’re delighted by the progress they have made since our initial, small investment.
“The company has an excellent data science team, global existing client base and robust pipeline of potential customers. We are excited by the opportunities this funding round will unlock and enable MediaGamma to pursue.”
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