UK-based artificial intelligence (AI)-equipped data analytics company Faculty Science has secured £30m ($42.5m) in funding from investors including Guardian Media Group (GMG) Ventures, the corporate venturing arm of publisher Guardian Media Group, according to TechCrunch.
Apax Digital Fund led the round, which also included LocalGlobe and private investor Jaan Tallinn.
Founded in 2014, Faculty has developed AI technology that analyses real-world data to predict outcomes. Its clients include the UK government and corporates such as Virgin Media, Red Bull and Moonpig.
The company was involved in the Facebook-Cambridge Analytica scandal when it was still known as Advanced Skills Initiative, and it helped the Vote Leave campaign win the Brexit referendum.
Marc Warner, CEO and co-founder of Faculty, told TechCrunch the company would “never again” work in the political sphere.
The money will go towards the recruitment of more than 400 additional staff and the rollout of its learning and development programme. Mark Beith, partner at Apax Digital, will join Faculty’s board of directors.
GMG Ventures and LocalGlobe previously co-led a $10.5m funding round in November 2019, according to the Telegraph. Tallinn was identified as an existing shareholder at the time.
