Tech & Trends
Teesside tech firm plots expansion in 2021
December 18, 2020
Teesside-based tech firm Bubo.AI is set to double its workforce in 2021, having secured 20 new clients in the last year.
The tech brand currently employs six full-time members of staff and hopes to increase its headcount by 50 per cent by the end of 2021.
The past 12 months saw the company successfully relocate to a larger HQ in Middlesbrough, despite the global pandemic.
The business, which uses artificial intelligence to determine optimal price points for wholesalers, retailers, and other B2B firms, is also set to dramatically increase its number of clients over the next three years.
Alan Timothy, CEO of Bubo.AI, said: “2020 has been a challenging year for so many companies, and the entire global economy.
“We are delighted and humbled by the support of those within the Bubo.AI network, from investors to academics, to advisors, commercial partners, suppliers, and everyone who’s played a role in the growth of the company throughout the year. I would personally like to thank them all.
“In 2021, we are looking forward to working with even more customers around the world.”
Bubo.AI, co-founded by serial entrepreneur Alan Timothy and Polish data analyst Marcin Lisowski, launched in 2020 to help businesses optimize their pricing and increase their revenue and profits.
Just this month, the company was included in the Tech Nation Rising Stars 3.0 list after winning the award for ‘Best Emerging Technology in AI’ in Computing’s AI & Machine Learning Awards 2020.
Earlier in the year, the tech firm received £650,000 from private investors and NPIF — Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
Andy Preston, Mayor of Middlesbrough, where Bubo.AI is based, said: “Middlesbrough is the home of digital technology startup companies delivering cutting edge technology products and services for companies across the world.
“We are working hard to support companies such as Bubo.AI to make Middlesbrough and the Tees Valley a true global digital powerhouse, the next Digital City.