Big Data analytics business Cardinality backed with £2.5m
Posted on April 19, 2021 by Jonathan Symcox
A Big Data analytics business has raised £2.5 million funding from Maven Capital Partners.
Cardinality says its AI-driven data ingestion and analytics platform ‘Perception’ enables its customers to run, manage and derive value from datasets in real time and at massive scale.
Founded in 2015, the Guildford-based business has primarily serviced the telecoms sector, successfully winning contracts with customers including Vodafone, Telefonica, Etisalat and Zain.
Maven’s investment will enable Cardinality to deepen its existing foothold within its beachhead market as well as expand ‘Perception’ into other verticals, including financial services and energy, whilst helping accelerate its traction in the North American market.
Luke Matthews, Investment Director at Maven, said: “Cardinality offers an excellent opportunity for the Maven VCTs to invest into a scaling business, for which the growth dynamics of the data integration sector provide a positive outlook.
“The company has seen good commercial progress to date and its revenues are backed up by a strong pipeline and growing recurring revenue base.
“The management team, led by CEO Steve Preston, are highly experienced and we have been impressed by what they have achieved in what is a competitive market.”
Preston added: “This investment is a key milestone for us. Cardinality has developed its Big Data platform specifically to address this growing dependency that data brings to all business sectors.
“Having proved our data platform scalability, AI and ML technology across a number of leading Tier-1 mobile operators across Europe, Middle East and Asia, this investment now fuels a journey further and wider into other verticals and markets, specifically now that our USA operation is up and running.”