River Capital’s fund:AI has led a £550,000 investment into Liverpool-based competitor intelligence platform Deltabase, in a deal backed by Manchester AI investor EHE Ventures.
The investment supports Deltabase’s next stage of growth following its recent relocation from London to Liverpool, adding to a series of inward investment moves into the city region’s tech sector.
Founded in 2019 by Phil Spratt, Alastair Whiteley and David Rowe, Deltabase provides human capital intelligence for HR teams and advisory firms including KPMG, PwC and Mercer in the UK and North America. Its platform uses AI and data analysis to help organisations benchmark workforce composition, culture and talent — areas that are increasingly scrutinised in M&A activity.
Phil Spratt, CEO of Deltabase, said the funding marked “the start of a new phase of scaling” for the business. “With many organisations facing into the impact of AI on their business, taking a workforce-led approach, guided by data and insight is a key enabler to success,” he said.
David Walters, investment director at River Capital, said the deal had been in development for more than a year and pointed to early commercial traction at the company. “The current Deltabase client list is impressive and revenue is already well advanced,” he said. “We now hope to support Phil, Alastair, David and the team as they start to bring their Direct to Business products to market.”
The deal was advised for management by Alex Stewart of Knights Corporate Finance, with legal support for River Capital provided by Daniel Hayhurst of Brabners LLP. River Capital’s fund:AI launched in 2022 and invests in early-stage AI and data businesses across the North, writing cheques of up to £1m.
