Science Park Businesses Attract Investment
10 September 2017
Two companies based at the Science Park have been successful in attracting significant capital investment to fund the expansion of their operations.
Fresh Relevance will receive an investment boost of £2.15m from Foresight Group. The funding will accelerate the company’s expansion across North America with plans to open a Boston office, explore market opportunities in new territories and extend its in-house development capabilities here at the Science Park.
The companies met at a SETsquared Showcase event. Foresight’s Private Equity Team commented: “We are delighted to support Fresh Relevance’s growth plans. Their innovative and flexible marketing platform is addressing the demand for greater personalisation online and is already relied upon by hundreds of leading retailers.”
Fresh Relevance provides online retailers with specifically customised customer experiences and real-time marketing tools across desktop and mobile applications, ensuring they engage with consumers effectively in an increasingly competitive online market. The company recently announced that over 300 brands are now using its technology - a 33% uplift year on year. Clients include Homebase, M&M Direct, Emma Bridgewater, Thorntons, Cottages.com, Unwins and White Stuff. A significant factor in the company’s growth is the rate at which new and innovative new features are brought to market.
HiLight Semiconductor has announced the completion of its third round of venture capital funding, securing $6.1m. The company plans to use the funds to further expand its IC design, support and evaluation teams, extend its laboratory facilities and establish additional offices in Bristol.
The company has previously been successful in attracting seed investment from Oyster Capital in 2013 and Series A funding led by Atlantic Bridge Capital in May 2015. This latest investment is once again led by Atlantic Bridge with follow-on financing by Oyster Capital, Executive Chairman Gary Steele and a new strategic investor.
CEO of the University of Southampton Science Park, Peter Birkett, commented: “Strong innovation leads to strong investment potential, but only if this creativity is matched with a compelling business model and executed by a focused leadership team. In Fresh Relevance and HiLight Semiconductor we have two such examples. We wish them success in taking their businesses to the next level with the funding they have secured.”