Artesian Solutions Secures £3.5 Million ($5m) in Further Expansion and Growth Capital raise
Artificial Intelligence Business Successfully Refinances to Fund Growth Ambitions
29th November 2017: Artesian Solutions, the powerful Artificial Intelligence driven service that equips client facing teams with the resources they need to succeed in a modern commercial environment, has announced it has secured further expansion capital from Columbia Lake Partners. The capital will be used to refinance existing debt obligations, and provide a line of working capital for further growth and expansion.
The announcement comes off the back of Artesian reaching its profitability milestone in July of this year. Refinancing existing obligations on better terms frees up cash for working capital giving the business greater flexibility to expand and invest in its advanced R&D – a programme that in the last 12 months alone has seen the business launch its ‘Insight Agent’, the first step in a series of intelligent chat bots aimed at automating many of the tasks carried out by B2B professionals daily, and Arti, its interactive digital assistant which enables intuitive interaction with the company’s web content, in a human-like dialogue.
“This is an exciting milestone in our company’s history and positively reinforces the leadership position we have attained”, explained Co-Founder and CEO Andrew Yates. “We are constantly looking at the ‘what next’ scenario, pushing boundaries to establish our business as one of the leading innovators in B2B software for commercial teams, this has paved the way for our new risk mitigation capabilities which will be released in the New Year”.