Red Flag Alert Secures £4m Series A+ Investment to Accelerate Growth

Red Flag Alert, a Manchester-based business intelligence platform, has secured a £4m Series A+ investment, significantly strengthening its growth trajectory. This follows a previous £3.5m private equity investment from Foresight Group, which also participated in the latest funding along with Ric Traynor, founder and executive chairman of Begbies Traynor. Since the previous investment, Red Flag Alert has made substantial progress, tripling its client base from around 200 to 600, nearly tripling its annual recurring revenue (ARR) from £1.8m to £5.2m, and expanding its team from 20 to 51 members. The platform now aims to achieve an ARR of £10m within the next two years. CEO Richard West highlighted a surge in inquiries from enterprise and mid-market companies, leading to onboarding significant industry leaders recently. The new funding will allow Red Flag Alert to adjust its go-to-market strategy, focusing on five core markets: financial services, accounting, legal, construction/manufacturing, and business utilities. Additionally, the firm intends to upgrade its technology to better cater to its growing and more sophisticated client base. Alongside the investment, Red Flag Alert has hired Vincent Kilcoyne as chief product officer to drive its growth strategy. The company also continues to innovate its product offerings, having launched consumer credit reports and global KYB/KYC solutions.