MyLife Digital targets £120m turnover after £6m boost
Privacy technology firm MyLife Digital has raised £5.7 million to support the international rollout of its personal data management platform.
The Bath-based company is behind an enterprise Software-as-a-Service (SaaS) solution that helps businesses “manage the challenges” around personal data by building greater trust and engagement through transparency.
Launched in late 2017, the Consentric platform already has six million registered individuals.
It helps organisations by reducing data misuse, enabling new service innovation based on data sharing, putting users in control, and generating trusted access to more, higher quality and more timely data from individuals as a result.
Business Growth has invested an additional £3 million in MyLife Digital, following its initial £2 million investment in 2016. MEanwhile, Barclays has provided the company with a £2.7 million venture debt facility.
MyLife Digital chairman Bruce Finnamore said: “With this further funding we now have the capital to accomplish our international ambitions and grow MyLife Digital to £120m turnover within three years.
“The latest investment will enable us to pursue our mission by further enhancing the capability of the Consentric platform, and to extend our partner footprint and client reach globally.
“Our aim is to be the world’s leading company in providing a trusted, safe and secure platform for personal data.”
James Austin from BGF and board director of MyLife Digital added: “Our additional investment demonstrates our confidence in MyLife Digital as an exciting technology company in the personal data management space. They have already grown quickly through the capital provided with the initial funding.
“This new investment enables them to accelerate their growth into international markets, through multi-national clients and further international partners.”