Scottish Marketing Technology company secures £1.5 million investment from Virgin to launch an Artificial Intelligence platform.
Hyble, a MarTech platform based in Edinburgh, has secured £1.5m in venture debt financing from Virgin Money, marking a significant step forward in the company's growth journey. This investment is an example of Virgin Money's support for high-growth, technology-led businesses.
The funds will be used to accelerate the launch of Hyble's AI-powered Hyble 2.0 platform and fuel commercial expansion in the US and Europe. Hyble 2.0 aims to revolutionize the creation, deployment, and optimization of menus and Point of Sale (POS) systems, providing sales teams with smarter tools, faster execution, and measurable return on investment (ROI).
The partnership with Southern Glazer's Wine & Spirits (SGWS), the largest distributor in the US, has increased Hyble's visibility and shown its impact. Demand for Hyble's services has been driven by large enterprise customers in North America and rising new business activity across both alcoholic and soft drinks categories.
As part of Hyble's scaling of its US operations, Katie Hoare has been promoted to general manager, USA. The company also plans to expand its US sales team. In addition, Hyble will hire 100 new AI engineers in the next few months at the Edinburgh and Glasgow locations. Six new AI engineers will be hired across these offices to enhance automation, intelligence, and usability in the platform.
Catriona Penny, senior director of venture debt at Virgin Money, expressed her support for Hyble, highlighting the company's focus on solving real-world challenges for global beverage companies using AI, data, and operational speed. The company's success is evident in its impressive growth: Hyble has reported a 93% increase in revenue annually compared to the same period in 2023.
Print turnaround times have been cut by more than 60% using Hyble, reducing operational costs and improving field sales execution. This efficiency has been a key factor in Hyble's ability to deliver for the world's biggest beverage brands and distributors.
While not directly related to Hyble, it's worth noting that Reach, a media company, is planning to cut hundreds of jobs. This news serves as a reminder of the dynamic nature of the business world.
In conclusion, Hyble's strategic investments and expansions, coupled with its innovative AI-powered platform, position the company well for continued growth and success in the global market.
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