Capital will allow interVal to continue to meet market demand for its subscription-based data analysis technology
Photo: interVal co-founder and CEO, Trevor Greenway
LONDON-BASED DATA automation and business valuation analysis software firm interVal has announced it has raised $1.5 million in seed capital.
Taking a strategic approach to involve investors across a series of verticals, including leaders from the financial services and technology markets, the capital will support the company’s growth ambitions and ability to enhance the customer tools available within the platform, including further developing a series of proprietary algorithms that will help drive success for small businesses.
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“interVal’s purpose is to create success for business owners and for the advisors supporting them,” says Trevor Greenway, interVal’s CEO and co-founder, and a London Inc. 2020 20 Under 40 recipient. “Both parties are better off when accurate and reliable data is available to support decision making and strategy. With this funding, we can continue to accelerate our development path and expand our footprint into new markets, including the U.S.
“We are extremely pleased to welcome our new investors and look forward to realizing the benefits of the invested capital immediately.”
The seed capital raise comes as the company scales to meet strong demand in the financial services, accounting, and franchise sectors for its financial analysis and reporting offerings suited for small businesses, putting the company on track to reach profitability in 2022.
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“The platform is already very robust, but it is really only the beginning,” says Scott Coffin, investor and former CEO of Canaccede Financial Group, on behalf of the group leading the seed investment. “interVal has big plans for scale across North America where its platform will drive success for many small businesses and increase efficiencies for their professional support networks. We anticipate dramatic growth and wide adoption of interVal’s technology across many use cases and industries and we are excited to be a part of that.”