Subsequent-generation Info Administration Platform Solidatus Raises £14 Million in Sequence A Funding
londonbased solidatus hsbc citi 14m series, LONDON–(BUSINESS WIRE)–Solidatus, the award-winning data lineage and metadata administration agency, at current proclaims it has raised £14m ($19.2m+) in Sequence A funding to transform how organisations view, understand and deal with data. AlbionVC led the spherical, which moreover consists of HSBC Ventures, and Citi, two of Solidatus’ world enterprise purchasers. The deal was led by Emil Gigov and Jay Wilson of AlbionVC with Jay Wilson turning into a member of the Solidatus’ Board of Directors following the funding.
Solidatus proclaims worthwhile Sequence A funding spherical, securing £14m from b2b enterprise fund AlbionVC, HSBC and Citi
Solidatus empowers organisations to efficiently map, deal with and monetise their key asset – data. Corporations internationally are dealing with sophisticated data components and the lineage-first technique championed by Solidatus offers as a lot as 90% effectivity monetary financial savings over typical methods. Buyers, along with top-tier world financial, pharmaceutical and consulting firms, are using the software program program to visualise and understand their data property, taking advantage of the facility to hint data by their enterprise to drive enterprise intelligence, digital transformation and regulatory compliance.
Last 12 months marked the company’s most worthwhile 12 months up to now, seeing Solidatus larger than double in dimension, quadruple its earnings whereas sustaining profitability. The enterprise turned the one new entrant to the Gartner Magic Quadrant in Metadata Administration, certainly one of many youngest corporations to place inside the Quadrant’s historic previous. Solidatus expanded into a variety of new sectors, along with aerospace, manufacturing, telecommunications and authorities, and has 4 of the best 10 Globally Systemically Mandatory Banks (GSIBs) inside the European and US markets as purchasers. Solidatus was moreover awarded Best Info Governance Decision by Info Administration Insights.
The Sequence A funding sees progress companion, AlbionVC, and strategic companion, HSBC, be a part of Citi to assist Solidatus’ imaginative and prescient to revolutionise data engineering. The intention is to fast-track its deliberate world enlargement, further extending into new territories along with the US, Europe and Asia, along with delivering best-in-class data administration capabilities to new commerce verticals.
Kate Platonova, Chief Info and Construction Officer, HSBC acknowledged: “As a giant world monetary establishment, we deal with sophisticated organisational metadata. By our partnership with Solidatus we have dramatically improved just a few of our workflows, reducing every the prospect and tempo to market for just a few of our foremost worldwide programmes. Their graph experience has been considerably instrumental in serving to us to achieve this. As administration of metadata turns into ever additional essential to success, we think about Solidatus will play an an increasing number of strategic place for HSBC eventually.”
Philip Dutton, co-founder of Solidatus acknowledged: “Solidatus was constructed to revolutionise the data monetary system. The completion of Sequence A is affirmation that we’ve engineered the becoming decision to fulfill the sophisticated needs of data-rich and managed organisations, delivering a recent, agile and scalable decision. We’re attempting forward to working alongside our merchants to hurry up the provision of organisational transformation and administration to new markets and purchasers with the an identical diploma of dedication to the easiest necessities of service which is perhaps key to the Solidatus offering.”
Jay Wilson, investor at AlbionVC and Solidatus board member acknowledged: “The rising complexity of an organisation’s data estates and the rising recognition of data as an asset combined with rising regulatory requires is bringing data administration into the limelight. Solidatus has constructed the best-in-class product to bear down on the commerce’s ache components and we’re delighted to steer the company’s first institutional capital elevate to assist the co-founders and the company in reshaping data lineage and the broader data administration class.”
The funding spherical comes shortly ahead of Solidatus’ participation inside the UK Division of Worldwide Commerce’s Digital US RegTech Roadshow, happening on the end of February 2021. The roadshow connects a select group of foremost UK RegTechs with key USA financial firms stakeholders.
Alastair Lukies, CBE, Member of the Prime Minister’s Enterprise Council and Chair of the Fintech Alliance, suggestions: “The UK’s tech sector is an outstanding world success story, for FinTech and RegTech particularly. This US Roadshow will further reinforce the UK’s world-leading innovation on this space. I’ve acknowledged Solidatus as a enterprise for some time and reaching this milestone of their progress, notably from such renowned merchants and at such a serious diploma, is testament to every the enterprise’ proposition, innovation and restore to their prospects. It indicators a implausible start to 2021 for British tech firms and underlines how the nation’s tech sector is making waves on a really world scale.”