The 12 VCT Deals of Christmas

This has been a challenging year for many people and businesses across the globe, but we share the optimism that there are brighter times ahead. At Maven we have had another busy year and are proud to have backed some of the UK's most dynamic and innovative businesses in 2020.

These are unprecedented times for our society and the economy, but we remain committed to backing UK entrepreneurialism and our investment teams across the country will continue to support smaller companies who are leading the way towards creating a brighter tomorrow.

Over the past 12 months our VCTs have made 12 new investments in a diverse range of technology led businesses, which are helping their clients drive ever-improving customer service, enhance their productivity, or make more informed and effective decisions.

Date of investment: November 2020
RevLifter’s AI-powered technology uses live data to enable its clients to match highly personalised offers to customers who reflect a specific profile or behaviour. The platform helps eradicate wastage associated with blanket promotions by presenting real-time, targeted incentives during the buying process that improve browsing conversion rates and encourage higher average customer spend. The business has already acquired high-profile customers in the retail and telecoms space, including Harvey Nichols, Very, Currys PC World, AT&T, BT Broadband and EE.

Date of investment: September 2020
MirrorWeb provides cloud-based social media and website archiving solutions for both the public and private sectors, where companies are increasingly looking to preserve online data to meet statutory, regulatory or legal obligations. MirrorWeb provides a reliable, secure solution for archiving and monitoring websites and other online channels, allowing clients to preserve legally admissible records in a digital archive, leading to reduced compliance costs and improved efficiency through automation. The business has built a strong recurring revenue base through premium brand clients including Zurich, The National Archives, the BBC and HM Treasury.

Date on investment: August 2020
GEN inCode has developed a range of patented risk assessment products, using genetic testing to provide predictive analysis of a patient’s health risk in cardiovascular and related diseases, which collectively are the leading global cause of death and disability. Proprietary algorithms use artificial intelligence (AI), bioinformatics and a globally recognised clinical evidence base to provide actionable insights. With healthcare shifting from a ‘one size fits all’ approach towards tailored treatments that utilise patients’ genetic information, Gen inCode’s diagnostic solutions enable medical practitioners to develop targeted treatment and prevention plans; helping to transform the delivery of healthcare.

Date of investment: June 2020
Quorum has developed an innovative platform that offers organisations a level of cyber security that is not available in-house, including advisory services in crucial areas such as penetration testing, vulnerability management, forensic investigation and regulatory compliance. Quorum offers its fully managed, cloud native Security Operations Centre which is specifically created to protect small and large businesses across a range of sectors, as well as providing consulting and managed security services to companies across the globe, including the UK, Europe, Australasia, and the Middle East.

Date of investment: June 2020
Hublsoft has developed a data visualisation software product that aims to provide better, more relevant data and analytics to corporate decision makers. Where existing business information, IT services and reporting solutions typically focus on providing detailed reporting of large data sets, Hublsoft’s novel approach reverses the traditional methodology to create a new way of analysing data. Rather than starting with the data, Hublsoft creates a “virtual business”, using the client’s language, and then connects and transforms only the data that is needed.

Date of investment: May 2020
The Algorithm People (TAP) is a Software as a Service (SaaS) provider operating in the transport and logistics sectors. Its My Transport Planner solution enables fleet operators to reduce costs by choosing the most efficient route and job schedule for their vehicles (including electric vehicles). Delivery via a web browser removes the cost and complexity of implementation, or the need for investment in ancillary hardware, which are known barriers to the adoption of route optimisation technology for a large part of the market. TAP’s technology also features a pay-as-you-go model (in addition to longer term contract options) to drive uptake by smaller fleet operators.

Date of investment: April 2020
Intilery is a customer data platform and decision engine that powers multi-channel campaigns for businesses, providing a holistic view of the client’s marketing activities and using comprehensive data about their customers’ behaviour to identify opportunities for enhancing marketing campaigns. Personalised interactions and real-time reminders are used to create a better customer experience, providing valuable insights to enable Intilery clients to improve engagement across multiple channels, enhance customer loyalty and ultimately increase revenues.

Date of investment: March 2020
Precursive is a B2B business that provides an easy to use SaaS platform to allow technology and service based clients to automate their customer onboarding and workforce capacity management. The platform bridges the gap between CRM sales systems and customer success platforms, in order to improve operational efficiency, enhance customer experience and reduce client attrition. Precursive has a strong market position and excellent levels of forward revenue visibility through high quality relationships with clients such as Google, SES, DPD and GoCardless.

Date of investment: March 2020
Push is an established technology business that provides client solutions to improve the speed, security and efficiency of critical data transfers. The business has a strong blue-chip client base across the financial services, e-gaming and Internet of Things (IOT) sectors, where application connectivity and data distribution is of particularly high importance and value. Push engages with clients through a combination of long term software licences combined with annual recurring maintenance and support income.

Date of investment: March 2020
Nano is an advertising technology business, which specialises in intent targeting to identify relevant individuals to receive advertising, based on multiple live intent signals including their online search activity, and placing ads in real time. Nano’s platform allows advertisers and agencies to target users at the exact point of interest, whilst also prioritising user privacy. The company has already built a blue-chip client base of brand advertisers and large agency groups, and has identified significant opportunities to win larger client contracts.

Date of investment: February 2020
Hive HR* provides cloud-based SaaS solutions to support the HR function of organisations to help them improve employee engagement and communication. It collates and analyses employee feedback in real time, which serves to continually improve the HR function by understanding the opinions and suggestions of employees, as well as helping to implement new policies and services. Hive already boasts an impressive client list across a number of industries, including banking, retail, education and the public sector.

*Maven Income and Growth VCT 5 originally invested in Hive HR in 2019. Maven Income and Growth 1, 3 and 4 invested for the first time in 2020. 

Date of investment: January 2020
Coniq has developed its IQ customer engagement software platform that uses AI driven capabilities to automate customer loyalty activities for some of the world’s leading shopping malls and outlets. The platform helps clients to understand and anticipate the behaviours of shoppers, and supports customer loyalty programmes, which are ultimately designed to improve customer retention and increase average spend. The business has a global presence, with key clients in Europe and the Middle East, where there is a high prevalence of large scale retail malls.

We wish all of our portfolio companies, and the thousands of people they employ, a very Merry Christmas. Here’s to a happier and healthier 2021! If you are an ambitious and fast growing business find out more about how Maven could be your long-term equity partner. Contact us at funding@mavencp.com.