AI scale-up techspert.io ramps globally with Texas office
techspert.io, the Cambridge AI technology innovator connecting businesses with experts for industry insights, has opened its first US office – in Texas.
Global expansion has been in the offing since February last year when the company closed a £3.76 million series A funding.
It revealed at the time that it planned to use the investment to further develop its deep AI search technology and fuel US expansion. Business Weekly understands that techspert.io is already gearing up for a Series B round.
Having grown its UK team from 15 people in 2019 to 42 so far the company is seeking to achieve the same rapid growth in the US with the launch of its Houston operation.
Graham Mills, techspert.io joint MD Managing and co-founder, said: “Opening the US arm of our company is monumental for an ambitious, growing scale-up like ours and it was a natural next step as our US client base has been scaling so rapidly.
“We’re on a mission to disrupt and fundamentally change the expert network industry. Having a physical presence in the US, the largest contributor to industry revenues, puts us in a prime position to realise this vision.”
According to a study released by Integrity Research and Inex One, the expert network industry continued to grow double-digits in 2020, bringing the total industry revenues to over $1.5 billion with the potential to grow to $5 billion and higher over the coming years. And with the 2021 US market revenues estimated at $1 billion, opening an office there is a move in the right direction for the firm.
techspert.io has also been using its Series A funding to strengthen the continued advancement of its AI search technology to scale outside of life sciences and health industries whilst concurrently growing its business within new client segments.
Technology innovations over the last year include a feasibility calculator – an internal tool that accurately predicts what timeline and quota techspert.io can deliver expert connections within based on a project’s parameters, ensuring scientifically precise bids to clients.
A customer project portal is also a gamechanger: The custom-built portal enables customers to manage projects efficiently, view expert profiles and screeners, schedule interviews, download files such as call recordings, transcripts, and CVs, and more. The goal is making the entire process of knowledge exchange as streamlined and efficient as possible.
And boosting its network – techspert.io’s AI search technology indexed 2,430,430 speciality keywords, increasing its network to 56,175,963 subject matter experts.
Without giving too much away, Martin Wilks, techspert.io CTO was thrilled about the progress made on the deeptech innovation. He said: “Using the latest machine learning techniques, we’ve grown and enriched our network of experts which has more than tripled in the last 12 months, ensuring we connect our customers with experts across a broad range of specialisms all over the world.
“One of our other core focuses has been upgrading our search stack, enabling significantly improved expert matching accuracy to customer needs. It’s not only about having the data but knowing how to use it too.”
David Holden-White, techspert.io co-MD and co-founder concluded: “We’re hugely excited to be expanding into the US. We’ll be able to serve our US customers more effectively and ensure that they have all the support they need in connecting to precisely the right experts through our platform – often experts no-one else can find.”
• PHOTOGRAPH: Joint managing directors and co-founders Graham Mills (left) and David Holden-White.