NPIF Maven Equity Finance leads £600,000 in YR Free
Transformational video collaboration platform secures follow-on funding to make key hires across its management team as it embarks on a programme of growth
NPIF – Maven Equity Finance, part of the Northern Powerhouse Investment Fund and managed by Maven Capital Partners , has led a £600,000 funding round for YR Free Labs Limited (“YR Free”), a business providing secure technology for digitally recorded media via a video collaboration platform called ‘eviid’.
The NPIF – Maven Equity Fund invested £600,000, alongside £225,000 from the Government’s Future Fund.
NPIF originally invested in the Liverpool based business in 2017. Today’s follow-on investment will allow the business to embark on a programme of rapid growth, making key hires across its management team and supporting the company as it expands its customer reach.
The eviid platform enables businesses to use live and recorded smartphone video in their processes, connecting with workers in the field or assisting customers in submitting video and photos as evidence. Its patented evidential technology ensures all video and image content is verifiable and auditable, as well as opening up opportunities around workflow automation and AI. The technology turns video and photos captured on smart devices into reliable, verifiable evidence that is suitable for use in court proceedings, claims management and compliance cases.