IFS Maven Equity Finance invests £850,000 in UK-based marketing technology platform specialist Triyit

Glasgow-based marketing technology platform Triyit has secured an £850,000 investment, from the Investment Fund for Scotland (IFS), managed by Maven Capital Partners and delivered by the British Business Bank, as part of a £1.1 million funding round.

Triyit connects FMCG brands with target consumers through its performance sampling and research campaigns.

With over one million organic sign ups to the consumer facing “product discovery” side of the platform, it offers brands a way to hyper-target and engage the right audience, with built-in campaign mechanics delivering consumer insights, user-generated content and earned media influence as part of each activity.

Triyit works with a variety of brands, across all FMCG categories, from startups and challenger brands to market leading, global enterprise organisations like AB InBev, Costa, Arla, Mars and Kellogg’s.

The investment will support further development of the company’s data science function, bespoke technology platform, and the planned expansion of the wider service offering in the UK and international markets.

Rob Stevenson, Investment Manager at Maven, says: “Technology enabled product sampling is an exciting and fast growing market.”

“Triyit is well positioned in the space with a strong consumer following and traction gained with a number of well known, established brands. The company has achieved impressive growth to date, and we look forward to supporting Alex and the team as they embark on the next stage of their strategy.”

Alex Barron, Founding CEO at Triyit, says: “We’re absolutely thrilled to announce this investment from Maven, facilitated by the Investment Fund for Scotland, which comes at a very exciting time for our business.”

“Working with the team at Maven will help accelerate our plans for international growth and enable Triyit to fully achieve the long-standing vision of connecting consumer and brands like never before.”

Sarah Newbould, Senior Investment Manager, Nations and Regions Funds, at the British Business Bank, says: “High growth technology businesses are increasingly becoming a mainstay of the Scottish economy and represent a core focus for the Investment Fund for Scotland.”

“Through our fund managers, we are committed to helping entrepreneurs all over the country with better access to funding opportunities to support their growth and development.”

2024 RTIH INNOVATION AWARDS

Startups are a key focus area for the sixth edition of the RTIH Innovation Awards, which is now open for entries.

The awards, sponsored by CADS, 3D Cloud, Retail Technology Show 2025, and Business France, celebrate global tech innovation in a fast moving omnichannel world.

It’s free to enter and you can do so across multiple categories.

Key 2024 dates

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.