UK start-up Detected, which calls itself an agnostic business verification platform, has closed its pre-seed funding round at 拢250,000.
This first tranche of funding has been raised from angel investors including Rob Barnett, former COO at RBS and current Managing Director of Southern Water; Craig Sears-Black, former MD of Manhattan Associates and current CEO of EV Cargo, and Carl Hartmann, former co-founder and CEO of Temando, now Lyre鈥檚 Spirit Co.
Other investors include the former Managing Director of Citigroup as well as strategic partners in Europe, Middle East and APAC.
The first wave of funding will be used to further develop the Hertfordshire-based firm’s platform ahead of a launch in December.
Committed customers range from B2B marketplaces and B2B marketplace software providers through to FTSE listed corporate entities.
Detected was founded during the pandemic. At the time, Liam Chennells and Nathan Kelleher were helping companies overcome issues with their supply chain infrastructure, using their contacts and networks to source planes and boats to keep medical equipment and PPE moving around the world. As they helped buyers and sellers, the team encountered unscrupulous parties and cases of fraud.
Barnett聽said: 鈥淒etected delivers a pragmatic, quality solution to a real business issue. I am excited to have invested in this and the management team. Liam has secured a group of high-quality investors and I look forward to supporting this exciting new company as it grows.鈥�
Detected uses thousands of data points to automatically confirm a buyer or seller鈥檚 identity, location, solvency and capability.聽The company鈥檚 platform integrates into existing marketplaces, business process or procurement system.
Peter Youell,聽Chief Technology Officer at Detected, said: 鈥淥ur scalable platform is primed for rapid commercialisation and this funding will drive our growth. The pandemic has unleashed a surge of businesses procuring services, solutions and products online and now more than ever it鈥檚 vital for B2B buyers and sellers to have the data and insight required to trade safely and confidently.鈥�