# Behaviour Lab funding: rounds and investors

> Behaviour Lab has raised $11M across 2 rounds since 2021. Every round with its source.

Source: https://millionrounds.com/company/behaviour-lab (Millionrounds; every figure on the page links to its filing or article)

United Kingdom · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Behaviour Lab*

2 rounds we have observed, with the 0 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Financial Services

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Funding summary Updated 31 Oct 2026

**$11M** raised across 2 rounds since 2021, from 2 sources

**$2.0M** Round **$9.0M** Round

- **Latest round:** Round, $9.0M Jul 2025
- **Step-up i:** 4.5×
- **Investors:** 0

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2022 2023 2024 2025

**$2.0M** Round

**$9.0M** Round

- **First round:** Round, $2.0M
- **Biggest round:** $9.0M
- **Between rounds:** 4 years

## The rounds

- **Jul 2025** Round **$9.0M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet
- **Jul 2021** Round **$2.0M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet

## Funding filed with regulators

Behaviour Lab filed 2 raises, $11M in all. Filings say how much was sold and to how many investors; they never name the investors.

- Jul 2025 **$9.0M** UK share allotment
- Jul 2021 **$2.0M** UK share allotment

## Founders and team

From Behaviour Lab's own website: 1 founder, 13 on the team.

**Magdalena Smith** Founder & CEO

- **Adam Sue** Head of Data Science
- **Calin Coman-Enescu** Head of Operations & Finance
- **Yannis Panagis** Head of Engineering
- **David Blumer** Chairman
- **Echo Wang** Product Designer
- **Kathryn Graham** Board Member
- **Keanan Fortuin** Compliance Lead
- **Lachlan Manser** Project Manager
- **Lasse Larsen** UX/UI Designer
- **Matthew Rosenthal** Data Analyst
- **Nick Hoffman** Board Member
- **Raffaele Abate** Back-end Engineer
- **Timothy Levins** Back-end Engineer

Advisers *Nick Jakobi* *Todd Ruppert*

## Also claim to have backed them

These 2 firms list Behaviour Lab as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[Angel Academe](https://millionrounds.com/fund/angel-academe-increasing-female-investment) Angel network Per its own site

[Rank Ventures](https://millionrounds.com/fund/rank-ventures) VC firm Per its own site

## Quick answers about Behaviour Lab

### How much has Behaviour Lab raised?

Behaviour Lab has raised $11M across 2 rounds since 2021.

### When did Behaviour Lab last raise?

Behaviour Lab's most recent round, $9.0M, was in Jul 2025.

### What was Behaviour Lab's biggest round?

Its most recent round, $9.0M in Jul 2025, is also its largest on record.

### Where is Behaviour Lab based?

Behaviour Lab is based in the United Kingdom.

## Companies like Behaviour Lab

In the same sector, and raised in the last eighteen months.

[**Revolut** $1.3B · Oct 2026](https://millionrounds.com/company/revolut)[**Cognitive Credit** $64M · Oct 2026](https://millionrounds.com/company/cognitive-credit)[**TrueLayer** $376M · Oct 2026](https://millionrounds.com/company/truelayer)[**ELEMENTARYb** $4.2M · Sept 2026](https://millionrounds.com/company/elementaryb)[**Quartz** $3.7M · Sept 2026](https://millionrounds.com/company/quartz)[**Oxane Partners** $32M · Sept 2026](https://millionrounds.com/company/oxane-partners)

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