This week’s UK tech funding deals include academic publishing platform Perlego, security firm Harmonic and challenger bank Monzo.
UKTN tracked £131m worth of UK tech investment this week (7 to 11 October), a 20% week-on-week increase across four rounds.
Here’s your weekly roundup of UK tech startup funding deals.
THG – £95m
Sector: Ecommerce
HQ: Manchester
Round: Capital raise
Investors: Existing long-term and institutional shareholders including CEO Matthew Moulding, plus retail investors
THG announced the move on Thursday in order to fund the demerger of its Ingenuity division, which provides digital services to leading consumer brands.
Perlego – £15m
Sector: Edtech
HQ: London
Round: Undisclosed
Investors: Former Tesco CEO, Sir Terry Leahy
Perlego, founded in 2017, is a subscription-based digital library that aims to make learning more accessible by offering unlimited access to over one million educational titles.
Harmonic Security – £13m
Sector: Cybersecurity
HQ: London / San Francisco
Round: Series A
Investors: Led by VC firm Next47
Harmonic Security gives security teams the tools to protect sensitive data using pre-trained data protection models.
Lightdash – £8m
Sector: SAAS
HQ: London / San Francisco
Round: Series A
Investors: Led by existing investor Accel, with participation from Operator Partners, Shopify Ventures and existing investor Y Combinator
Founded in 2021, Lightdash is the first open-source business intelligence (BI) platform purpose built for the modern data stack.
Monese – £15m
Sector: Fintech
HQ: London
Round: Takeover
Investors: Pockit
Monese has been acquired by Cardiff-based fintech Pockit, which said it would provide an injection of up to £15 million in equity capital to fund the integration and future growth of the business.
Monzo – N/A
Sector: Fintech
HQ: London
Round: Employee share sale
Investors: StepStone Group and GIC, Singapore’s sovereign wealth fund
Monzo’s valuation went up to an impressive £4.5bn after existing employees sold shares to investors.