The round was jointly led by Edge VC and Pembroke VCT, with participation from existing investors, and Mountside Ventures advising the raise. Prior to this round, it has raised £3.79 million from Mercia and angel investors.

Founded in 2019 by the team that successfully built and exited Workshare – the secure file-sharing software service – Mindset AI enables SaaS companies to build and embed AI features in their products without starting from scratch. It allows these companies to create user-friendly AI agents that chat using natural language, turning their unique content, expertise, and intellectual property into effective AI features.

Mindset has experienced substantial growth, achieving a remarkable 120% increase in revenue year-on-year and reaching £1M ARR in October 2024. This growth is attributed to the experienced team and Barrie Hadfield, the CEO and Co-Founder, who is a seasoned technology entrepreneur with expertise in founding and leading companies in the software and AI sectors.

One of the company’s clients has already seen course enrolments increase by 900% within three weeks of launching a search and recommendation agent, leading to 3.4x more revenue than those without access. Another company’s AI support agent reduced their team's workload by 30% in just one month, freeing up teams for higher-value work.

Mindset AI’s platform is already embedded in global SaaS products across learning and development, HR, and media – with clients such as Alison, Fuse Universal, SkillPath, and Mintra. Mindset AI’s agents now operate within over 2,700 companies. The company was also named one of Sifted’s ‘top 59 generative AI startups in Europe to watch’ in 2024.

The AI agent market is projected to grow from $5.1 billion in 2024 to $47.1 billion by 2030, with a compound annual growth rate of 44.8%. AI is shifting from experimentation to real business applications, and whilst some of the biggest software players are investing billions in AI agent infrastructure, SaaS companies are challenged to keep up with the pace of change and constant demand for new AI features. Regularly expanding AI capabilities is costly, time-consuming, and requires specialist talent that many companies don’t have. This creates a strong market opportunity for Mindset, as they work to make expert knowledge accessible to everyone.

The investment will support the development of Mindset AI’s natural language programming interface, expand its APIs, SDKs, and no-code tools, and scale its go-to-market efforts. The team will also use the funding to establish a US presence, with Chicago selected as the home of its first US office.

Barrie Hadfield, CEO & Co-founder of Mindset AI, said: “As AI evolves, so does the gap between businesses adopting it and those being left behind. AI talent is in short supply, and costs are high. Companies need solutions that let them deploy AI agents without heavy investment in AI teams or long development cycles. We’re making AI agent creation as easy as writing a Google Doc, so that SaaS companies can embed AI without friction.”

Fred Ursell , Investment Director of Pembroke Investment Managers, commented: "Mindset AI is redefining how learning and development businesses present and monetise their content through AI-powered conversational agents. With an experienced and exited founder, strong SaaS business model fundamentals, and a clear path to growth, we’re excited to back Barrie and the team as they scale. Mindset AI has the potential to transform the way enterprises leverage their content, and we look forward to supporting their journey."

David Glick, Founder of Edge Investments, said: “Edge Investments is very pleased to lead this investment into Mindset AI as it enters its next stage of growth. Experienced entrepreneur Barrie Hadfield and his talented team have built an outstanding platform that enables businesses to seamlessly harness the power of AI and drive tangible value with speed and efficiency. Mindset AI’s relentless innovation and bold vision are truly transforming the industry. Alongside my colleague, Hugo Sunnucks who led this investment for Edge, we look forward to supporting Mindset AI’s continued success.”

Alex Reed, Founding Partner of Mountside Ventures, said: "We’re delighted for Barrie and the team on successfully closing their funding round with the backing of the right investors. It’s been a pleasure advising them through the process – it’s rare to find an exited serial entrepreneur who is not only highly technical but also possesses such strong commercial acumen. We’re excited to see Mindset thrive in its next stage of growth as they deliver on their mission to make expert knowledge accessible."

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