London tech startup Attest closes $16m from Groupon investor NEA

Consumer growth platform Attest has secured a $16m (£12.3m) series A funding round from Silicon Valley-based investment firm NEA.

Existing investors Oxford Capital and Episode 1 Ventures also participated in the round.

London Bridge-based Attest said it would use the fresh funding to expand its technology platform, which is used by businesses to learn, measure and grow their consumer engagement. It will also accelerate its expansion in North America by opening an office in New York.

The firm has doubled in size to more than 50 staff in the past year, with recurring revenue rising 1,800 per cent in 2018. It also added clients including Heineken, Fever-Tree and Samsung to its roster.

“We’ve been exploring innovations within the consumer growth and insights space for a while,” said Crystal Huang, a principal at NEA who will join Attest’s board of directors.

“Our investment in Attest also reflects our enthusiasm for the UK tech ecosystem and eagerness to continue investing in this region going forward.”

"We aspire to be leading global business, and that takes a great leap forwards today," added chief executive Jeremy King.

"Our team is so excited to work with NEA and their global scale. NEA share our vision for helping consumer businesses discover predictable, repeatable growth by enabling anyone to get much closer to consumers and real inputs than has ever been possible before."