Teesside-headquartered Engineering Information Management (EIM) software company Datum360 to accelerate growth and address significant market demand.
Growth capital investor BGF has backed the firm with a multi-million pound investment, though an exact sum was not revealed.
Datum360’s software platform connects engineering systems, providing a’backbone’ which manages the life cycle of critical engineering and asset management data for a range of blue-chip customers from the fields of energy, mining, utilities, road and rail infrastructure.
The fast growth technology company was founded by CEO Steve Wilson, alongside CTO Dave Mitchell and CCO James Michael.
The North East company has offices in Australia and plans to open a US base in 2021. It has a global reach and is undertaking projects in North America, Europe, Asia and Australia.
Datum360 counts organisations such as BP, Total and BHP among its customers.
It said BGF’s investment will help to unlock its expansion.
Commenting on the investment, CEO Steve Wilson said: “Working with energy, mining, utilities and infrastructure clients, we are excited to see the demand for data become more distinct and more urgent. Our capability delivers the critical data foundation and backbone which underpins our clients evolving approach to BIM and building and maintaining their Digital Twins.”
Chris Boyes from BGF led the deal. He added: “Datum360 is a fine example of a North East business with a market-leading product which has significant global potential. With the growth plan and opportunity for the business clear, we were able to deploy capital very quickly. We already have a number of successful investments in the North East and are looking to back more businesses in the region.”