A Norwich and London-based business which uses AI-powered automation technology to improve decision-making has secured investment from Gresham House Ventures.
Founded in 2013, Rainbird is also expanding to the US and is in the process of building a global partner network.
The business leverages human expertise to go beyond standard Robotic Process Automation (RPA) to automate decisions.
International law firm Taylor Wessing uses Rainbird to automate regulatory advice, freeing up time for lawyers to focus on other opportunities.
Gresham House’s investment will enable the continued commercialisation of the product, supporting Rainbird as it looks to secure substantial further anticipated revenues.
Previous investments by Gresham House Ventures team in the RPA sector include Symphony Ventures, which was sold to US-listed Sykes Enterprises for £52m in November 2018.
“Rainbird is thrilled to introduce Gresham House to how our automation platform paves the way for any organisation to case-effectively synthesize best-practice decision-making and make it available at scale,” said Rainbird executive chairman James Duez.
“We believe people are an organisation’s most valuable resource and businesses that combine human expertise with Rainbird will gain a definitive competitive advantage.”
Brendan Gulston, investment director at Gresham House added: “The Rainbird team have done a fantastic job of building a game-changing business within the automation space.
“The quality of their clients and pedigree of the management team speak to the potential we see in this business to become a true disruptor, not just within the RPA space, but within all of the industries ripe for the efficiencies generated by intelligent automation.”