A Newport tech startup has won the regional heat of the Tech Nation Rising Stars competition.
Configur, a software development company specialising in addressing data literacy challenges, empowering data driven insights and simplifying AI adoption, took the Wales and the South West title at the regional final, hosted in partnership with Tramshed Tech and TechSPARK at Engine Shed in Bristol.
Their value proposition, traction, milestones, and dynamic founder team impressed a panel of industry experts, including Alison Ettridge (Founder and CEO, Stratigens), Geraint Hampson-Jones (Head of Office – Senior Investment Manager, RBC Brewin Dolphin), Harry Alexander (Investment Manager, QuantX), Marina Traversari (Senior Director, Sage), and Phil Sampson (Head of Deals Wales, PwC).
The competition celebrates the innovation and ideas of pre-seed to pre-series A startups across the UK. Configur will now go through to the grand final during London Tech Week where they will be judged by a panel of high-profile investors including Dragons Den’s Tej Lavani.
Marco Oliver, CEO of Configur, said:
“We are thrilled and humbled by this recognition from Tech Nation. There were amazing pitches and it was great to be alongside companies that offer so much innovation and emerging tech.
“We're on a mission to demystify data, which is why we have developed software that harnesses the power of AI to revolutionise how businesses operate and reach new levels of data driven process. This achievement is a testament to our team’s unwavering commitment to developing and delivering a platform for organisations across a large number of sectors and use-cases.”
Configur's success comes off the back of a significant investment round, raising £772,000 at a valuation of £6 million from investors including an increased shareholding for Lord Mervyn Davies and continued support from existing investors as well as several new angel investors.
This financial injection will fuel Configur's growth, allowing the company to expand its team across South Wales as well as establish a base in London.
Louise Harris, CEO at Tramshed Tech, said:
“We are incredibly proud of Configur. This achievement validates their innovative approach to leveraging data as a strategic asset and celebrates their team's incredible talent and tenacity. We've had the privilege of watching Configur grow and transform from a team of two to a workforce of 15, and we know that this is just the beginning.”
