Big data analytics business says hello to private equity investment

NVM Private Equity (NVM) has invested £4m in Manchester-based Hello Soda, a global text and big data analytics business.

The investment will enable the company to continue its global growth plans and raise the profile of its high-tech offerings that boost revenues for businesses in the ID verification, risk and personalisation sectors.

The transaction is being jointly funded by NVM Private Equity alongside an additional £1.5m venture debt facility from Clydesdale and Yorkshire Bank’s Growth Finance team.

The company, which also has offices in the US and Thailand, specialises in providing advanced text analytics software solutions to customers across six continents meaning it is able to provide a global, 24/7 service to its portfolio of customers.

Led by CEO James Blake, the business has grown rapidly since its launch in 2013 and currently has customers operating in countries including the UK, USA, Mexico, Australia, Spain and South Africa.

Blake said: “NVM are a great cultural fit for us and it’s fantastic to work with a team that truly share our values and vision of a more inclusive digital world. Working with NVM will enable us to really ramp up our global growth to better support our existing and prospective clients and we’re very excited to see the impact that our innovations will have.”

Liam May, investment manager of NVM Private Equity said: “Hello Soda already has a strong market position and great growth potential across a number of sectors and geographies. With the capital to pursue its ambitions now in place, combined with leading, innovative technology and a young, entrepreneurial management team, this is an extremely exciting time for the business.”
David Smith, Peter Barkley and Keith Benson from the Dow Schofield Watts tech team worked with Hello Soda on its fundraising plans.

Smith said it was another significant deal for the North’s tech sector.

“Hello Soda’s product is the most advanced and insightful of any in its sector. This investment will help James and his team to establish the business as a global leader in its field.

“The proposition attracted keen interest from investors across the globe. The challenge was to find one that was exactly the right match for the company’s requirements with a structure which worked for all stakeholders. The Dow Schofield Watts tech team worked closely with the other parties to develop a solution that provided a win-win for all involved. This is another great Northern tech deal for a great Northern tech company.”