Data lineage and metadata management company Solidatus has raised £14 million Series A funding.
The London firm aims to transform how organisations view, understand and manage data.
AlbionVC led the round, which also includes HSBC Ventures, and Citi, two of Solidatus’ global enterprise clients.
The deal was led by Emil Gigov and Jay Wilson of AlbionVC with Jay Wilson joining the Solidatus board of directors following the investment.
Solidatus empowers organisations to effectively map, manage and monetise their data. It claims to offer 90% efficiency savings over traditional methods for clients including top-tier global financial, pharmaceutical and consulting firms.
Last year it more than doubled in size, quadrupled its revenue and maintained profitability.
It now intends to fast-track its planned global expansion, further extending into new territories including the US, Europe and Asia.
“Solidatus was built to revolutionise the data economy. The completion of Series A is confirmation that we’ve engineered the right solution to meet the complex needs of data-rich and regulated organisations, delivering a modern, agile and scalable solution,” said co-founder Philip Dutton.
“We are looking forward to working alongside our investors to accelerate the delivery of organisational transformation and control to new markets and clients with the same level of commitment to the highest standards of service that are key to the Solidatus offering.”
Kate Platonova, chief data and architecture officer at HSBC, said: “As a large global bank, we manage complex organisational metadata.
“Through our partnership with Solidatus we have dramatically improved some of our workflows, reducing both the risk and speed to market for some of our major international programmes.
“Their graph technology has been particularly instrumental in helping us to achieve this. As management of metadata becomes ever more critical to success, we believe Solidatus will play an increasingly strategic role for HSBC in the future.”