Palatine has backed fast-growing software company ADVANCE庐AI with funding from its Growth Credit Fund.聽聽
The deal marks Palatine鈥檚 first in the Cambridgeshire region and its sixth overall from its fund, which launched in January 2024 to support maturing, high-growth companies in the UK regions that are seeing double-digit year-on-year revenue growth.聽
Cambridge-based ADVANCE庐AI offers AI-driven solutions to pharmaceutical companies to improve sales, offering real-time campaign analysis.聽
The company also provides continuous visibility of the quality of the conversations taking place between field-based teams and healthcare professionals.
The funding will fuel the firm鈥檚 growth by building on its global pharma client base across North America, Japan, the EU and the UK.
It has also been awarded an Ecovadis Platinum rating, which means it sits in the top 1 per cent of companies that report to and are assessed by the sustainability rating provider with a network of more than 150,000 rated companies.聽
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鈥淲e are thrilled to have Palatine onboard as we look to accelerate our growth and global expansion,鈥� said Gary Page, CEO of ADVANCE庐AI.
鈥淭hey have been a supportive investor throughout and given us a platform to continue our important work in the AI sector for pharmaceutical companies.鈥澛�
William Chappel, managing partner for Palatine Growth Credit, added: 鈥淎DVANCE庐AI is an exceptional business growing at pace, which is a testament to its credentials within the pharmaceutical industry.聽聽
鈥淎s a fast-growing, regionally headquartered tech business, ADVANCE庐AI is a seamless fit with the Growth Credit Fund鈥檚 mission to support ambitious businesses across the UK with tailored growth capital.聽
鈥淲e are thrilled to complete our first deal in Cambridge too with a well-backed company doing outstanding work in the AI space and with strong ESG credentials which align with our values. We look forward to hopefully expanding further into the region with future investments.鈥澛�
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