Serve First secures £4.6m in funding to expand its AI-driven customer experience offering
AI customer experience platform triples Annual Recurring Revenue (ARR) in 12 months and wins major clients including Aramark, Elior Group and Alphega Pharmacy
Serve First, the AI-driven customer experience and feedback management platform, has raised £4.6m from Pembroke VCT and the Midlands Engine Investment Fund II, through its appointed fund manager Mercia Ventures, Tiny VCT and Techstars, alongside angel investors. Together, the investment will support the business’s UK and international expansion into Europe and the US, as well as product innovation, after achieving rapid growth in the UK market.
The funding builds on the company’s momentum to date, having tripled its Annual Recurring Revenue (ARR) in the past 12 months and secured major enterprise clients including Aramark and Elior Group.
Serve First’s AI-driven platform collects and analyses customer feedback from sources such as in-store surveys, online reviews and mystery shoppers, harnessing AI to drive insights and actions to frontline teams faster than ever before. These actionable insights help companies across sectors including retail, hospitality, wellness and facilities management to optimise customer experience and loyalty.
Since launching in 2023, the Milton Keynes-based business has quickly gained both attention and traction in the tech and customer experience space, securing a place on the London Techstars accelerator program and winning major customers including the likes of Alphega Pharmacy, Aramark, and Elior Group. The company has also doubled its headcount in the UK and recently appointed James Dening, who has held senior positions at companies including Amazon and Google, to Chair of its Board.
Serve First’s Founder and CEO Erol Ayvaz has spent over 20 years in tech, including time spent at Asana and Market Force Information. His career includes a particular focus on helping businesses serve their customers better through establishing customer experience strategies that don’t just drive growth but create lasting impact.
The customer experience management market is forecast to increase by USD $17.1 billion at a CAGR of 15.7% between 2024 and 2029, driven by rising consumer expectations and the increasing importance of feedback in purchasing decisions. Serve First is well-positioned to lead this shift, helping businesses gather and interpret feedback and insights to drive smarter decision-making..
Erol Ayvaz, Serve First Founder and CEO commented:
“This funding marks a landmark moment in Serve First’s journey. We’ve proven the value of our platform in delivering measurable improvement in customer experience, and this investment will enable us to aggressively scale that impact further both in the UK and internationally over the next three years. Our focus remains on building AI-driven technology that empowers businesses to serve, not just sell.”
Fred Ursell, Investment Director, Pembroke VCT added:
“In a market long underserved by generic, top-down software, Erol has built a product born from lived operational pain – purpose-built for frontline teams where customer experience is won or lost. The platform’s early traction with large enterprise clients, combined with strong unit economics and a founder who blends enterprise SaaS with real-world expertise, gives us high conviction. We believe Serve First has the potential to become the system of record for frontline performance.”
Amrit Sami, Investor at Mercia Ventures, said: “With brands keen to measure customer experience, Serve First is well placed to meet the growing demand for data insights. The platform sets itself apart from other solutions in its ability to bring together customer feedback from many different sources, and to be easily adapted to suit businesses of all sizes. We look forward to working with the team to support its growth.”
David Tindall, Senior Investment Manager, British Business Bank added: “The Midlands Engine Investment Fund II supports fast-growing, innovative businesses with the potential for significant impact. This latest investment in Serve First will enable the company to scale, create jobs, and contribute positively to both the region and the economy.”
