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Birmingham Post
Birmingham Post
Technology
Jon Robinson

Former Spotify investor helps AI tech firm Connex One raise £93m

A former investor in Spotify has helped a Manchester-based AI tech firm raise more than £90m.

Connex One has secured over £93m in Series C funding from GP Bullhound and other unnamed investors.

The company said the extra funding will enable it to "continue to scale its global operations and further establish its position as a market leader".

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Connex One was founded in 2013 by brothers Nick and Richard Mealey and works with the likes of 02, Gousto and Hub Energy.

It has been majority owned by Latium Enterprises, the investment vehicle owned by Brian Kennedy, since 2016 along with Sir Terry Leahy and The William Currie Group.

Mr Kennedy is a former owner of rugby union club Sale Sharks before he sold it to Simon Orange and Ged Mason in 2016.

He also previously owned Stockport County and co-financed Tommy Lee Jones film The Homesman in 2014. He is also known for working with the family of Madeleine McCann following her disappearance in 2007.

Sir Terry is a former CEO of Tesco while The William Currie Group recently hit the headlines after investing in fashion retailer In The Style.

GP Bullhound's current investments include Discord, Revolut and DuckDuck Go. It has previously backed the likes of Spotify, Slack and LeoVagas.

Connex One has developed an AI-powered customer engagement platform that provides omnichannel communication and business automation.

The company opened new offices in Miami, Barcelona, and Melbourne so far in 2022 and is aiming to expand its global workforce to 1,000 people.

Nick Mealey, who serves as the firm's CEO, said: "I am delighted to be able to announce the successful completion of our Series C fundraising from leading technology investors.

"Connex One’s growth rate has been phenomenal; it is a testament to our high calibre global team and the value that our award-winning platform has created for our customers.

"I am very much looking forward to the next phase of our journey."

The legal advisor to Connex One was DWF, led by Frank Shephard.

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