Pivigo, a London, UK-based artificial intelligence (AI) company that has launched a new platform to help social landlords manage rent arrears, raised a further £1.55 million.
The investment was from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), and Mercia's EIS funds.
The latest round will enable Pivigo to create new jobs, boost its sales and marketing, and roll out the product to more social landlords.
Alex Willard, Pivigo CEO, said: "Managers can only make decisions on the basis of the data insights available; however, most organizations lack data insights so make poor decisions. Machine learning radically improves the odds – helping to improve outcomes and profitability. Our product enables organizations to feel the benefits without the need for their data science team. "We are pleased to be working with Mercia to roll it out to social landlords, especially at the current time when the cost of living crisis is putting their tenants' finances under greater pressure."
Pivigo develop an 'AI as a service' platform that could be adapted to create different products for different sectors. Its social housing product, Occupi, is the first of these.
Pivigo's platform uses machine learning to improve rent collection, identify tenants in need of assistance, and transform productivity. Peabody, the London Borough of Camden, Community Housing, and Cobalt are already using the platform.
Company: Pivigo Limited
Funding Month: January 2023
Lead Investors: NPIF – Mercia Equity Finance
Company Website: https://www.pivigo.com/
Software Category: Rental Intelligence
About the Company: Founded in 2013, Pivigo is an AI-as-a-Service platform that revolutionizes rental income by balancing complex cases and collections. Pivigo helps you use AI within your business, from insights to drive better decision-making, enabling growth, and driving efficiency/cost reduction. Pivigo builds and customizes the AI Services for you, integrates them with your technology/platform stack as needed, hosts your AI service in a dedicated, secure environment, and looks after all aspects of the service from performance, reliability, and accuracy over time. With AI as a Service, you can harness the power of machine learning and AI without the effort, risk, and expense of building it yourself.
Source: Pauline Rawsterne, PR Agent-Turquoise PR