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Intriq
Tapping into a £17.5bn opportunity to automate workflows of consultancy firms
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Welcome to quick pitch! Our mission is to provide exposure to early stage startups and connect investors with the best in class founders.
Today’s feature is an early-stage start up building AI to automate the workflows for consultants.
Categorised as EIS/SEIS eligible
The UK’s EIS/SEIS schemes are incredibly important for early stage startup funding, making the UK highly competitive for securing investment. At quick pitch we think it’s crucial to champion startups taking advantage of this super power even if pre-launch.
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The Market
The productivity of ~700k consultancy firms are hindered by legacy tools and manual workflows when processing and analysing clients data that could be addressed using AI.
This week's business solves two major problems:
Consulting firms are wasting $8.5 billion annually on inefficient, manual data processing and analysis for clients.
Data analysis takes up 45% of overall project time as a result of relying on outdated, costly methods.
One Liner
Intriq materially accelerates data collection and analysis for management consultants by automating workflows and tools using AI.
Time Savings: The diagnostic phase is reduced by 83%, enabling consultants to complete initial analysis within a week.
Cost Efficiency: Projects see over 35% cost savings, equating to £175,000 per engagement on average.
Scalability: By reducing the time and resources required for diagnostics, firms can take on more engagements simultaneously, unlocking new revenue opportunities.
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Quickfire
Headquarters: London, UK
Employee count: 3
Investors: Several angel investors and Antler (Backed by Radia Accelerator and Grow F)
Funding amount: Raising £1,000,000 pre-seed (£250,000 committed)
Business model: B2B SaaS
Traction metrics:
Signed contract worth £24k ARR with a multi-location UK hospitality chain (consulting client)
AI partnership with a global management consulting firm with unique access to data and insights
3 NDAs signed with consulting firms (expected revenue of £90k ARR)
2 LOIs from consulting clients (private equity) worth £69k ARR
Due Diligence
OUR APPEALS
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Competition
Zenlytic, Discy.ai and Kolena (existing BI platforms)
Intriq’s competitive advantage can be summed up as follows: Proprietary Data Ingestion Technology, numeric data focus, flexibility & cost efficiency and deep integration with consulting workflows.
Their main advantage lies in their specialised ability to handle numerically intensive data (being a more complex and impactful challenge) while competitors predominantly focus on simpler qualitative data analysis.
Founders
Co-founder & CEO, Jessica Liew: Ex University of Southern California, first female hire and leading value creator at a £1.2 billion PE fund, Ex-AlixPartners and FTI Consulting (advising PE clients e.g. EQT ($227bn), TPG ($221bn) & Elliott ($71bn)).
Co-founder & CTO, Dr. Martin Kolar: Ex KCL, University of Warwick & UCL. Double PhD in ML, 15+ years in AI (computer vision, NLP and deep learning).
Cofounder & CPO, Lloyd Evans: Ex Cardiff University (LLB Law), first ops hire at Smart Pension, first non-tech hire at Codat, Senior Product Manager at 11:FS Ventures.
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