Using URICA’s payments platform has helped high-tech start-up AMPLYFI access working capital when they need it.
AMPLYFI, much like URICA, is a company pioneering novel Software as a Service technologies and, in the process, creating space to fundamentally disrupt the business landscape. A Cardiff-based startup, AMPLYFI was formed to deliver business insights into possible technology or market disruptions by commercialising techniques originally used by the intelligence community for cyber surveillance.
At the surface level, the Internet contains a huge amount of indexed data that can be found and accessed using standard search engines like Google, Yahoo! or Baidu. It is estimated that 500 times more information sits within the “Deep Web”– primarily unstructured content that standard search engines cannot reveal such as databases, government records and message boards.
AMPLYFI’s first product offering, DataVoyantTM, is capable of scanning all open Surface and Deep Web data across every modern language, then – using deep learning algorithms – interpreting and presenting trends on any chosen topic within hours. These trends support the identification of emerging threats, disruptions, influencers or enablers that would otherwise not be revealed by humans.
As a nascent startup, AMPLYFI is growing quickly, and is currently piloting DataVoyantTM with a wide range of clients including Global 5000 companies, private equity firms and government agencies. Last year, the company moved to Cardiff with support from the Welsh Government’s prestigious Digital Development Fund.
“From the very beginning we had great market traction and knew DataVoyantTM would be a success. However, as an early stage startup with clients from across the globe, we needed a novel way to manage our invoices and support our cash flow. We completed a landscape assessment of the options out there, and I was shocked,” explains Chris Ganje, CEO of AMPLYFI and a former BP executive.
“We contacted over 15 different invoice finance solutions providers in the UK, and were completely underwhelmed with the antiquated platforms and processes out there, not to mention the red tape involved and the road blocks, particularly for young startups.”