AVORA has raised £5.1 million in a Series A funding round led by Albion VC and existing investor Crane.

The machine learning-powered enterprise analytics platform also saw several previous backers reinvest, including former Salesforce chairman Steve Garnett and former Sage Group chief executive Stephen Kelly.

The UK startup will use the funds to expand its leadership and sales teams, launch in the US market and enhance its in-platform machine learning algorithms. The financing will also pave the way for the development of an app marketplace to enable customers to build their own solutions on top of its platform.

AVORA has already built a client base including Telefonica, OMD, NPR, HBO LatAm and Ocado. It uses machine learning and augmented intelligence to enable a new way of working with data, using the Smart Alerts feature to look for and flag anomalies in real-time, allowing businesses to spend their time making more effective decisions.

Founder and chief executive Ricky Thomas said that real-time, comprehensive data analysis is vital for organisations. “But, legacy solutions are characterised by complex and laborious IT-led deployments across multiple systems - this is slow, clunky and expensive - that’s why so many companies are ditching business intelligence tools altogether.”

Scott Sage, partner at Crane, added: “There is a huge opportunity for companies to leverage all of the data sitting on disparate systems in the cloud and across various applications to create automated analytics, for too long, the market was focused on reporting as opposed to taking action.”

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