Data indexing and discovery firm Exonar has appointed a new CEO after securing further funding from its investors.
Beringea, Downing Ventures, Winton Ventures and angels have backed the next phase of growth at the Reading-headquartered company which helps clients map, index, analyse and protect the data that they hold.
Danny Reeves brings more than 30 years’ experience in the field of information technology and in senior roles at technology-led businesses, including periods as CEO of Romonet CBRE and as CIO at global engineering firm Balfour Beatty.
“Today every company on Earth is a data company,” said Reeves. “The ability to see all data, in absolute detail, in one place, regardless of source and type, has been the one constant that has held us all back from maximising the true value of our data strategies.
“I am delighted to be part of the Exonar team as we enable our customers to truly know and leverage their data, in ways previously not possible, on behalf of the people they serve.”
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A primary problem for companies looking to manage and analyse the data that they hold is indexing and discovery. Exonar says it enables enterprises to rapidly map the information held throughout their organisation, creating an instant view of all structured, semi-structured and unstructured data, supporting the creation of inventories, security of sensitive data, regulatory compliance and ultimately data intelligence.
The new funding will enable Exonar to harness a substantial pipeline and further develop its market-leading product. It is already used by enterprise leaders including Lloyds Banking Group, Arrow Global, global pharmaceutical firms and providers of national infrastructure.
Stuart Veale, managing partner of Beringea and board director of Exonar, commented: “The volume and complexity of data held by the modern enterprise means that indexing and discovery is now pivotal to digital strategy.
“Our backing of Exonar is testament to the strength of its technology and the scale of the market opportunity – under Danny’s leadership, the business has the potential to drive greater security and competitiveness for its growing roster of enterprise clients.”