A UK software start-up aiming to accelerate computing performance has been tipped as a future unicorn by a leading industrialist.
Manchester-based Reconfigure.io has just released the first version of its technology platform which is tackling the global problem of IT systems struggling to cope with massive data demands.
Partners can now build its breakthrough acceleration technology into their own systems after Reconfigure.io spent the last year building relationships with software multinationals.
Malcolm Evans, an experienced financier and industrialist, is assisting founder Rob Taylor.
Evans said: “The UK has for a long time lacked unicorn prospects in fundamental Enterprise IT. Reconfigure.io is addressing strong need with strong IP at just the right time.”
For 50 years computer performance and cost gains were driven by relentless advances in silicon chips, a process known as Moore’s Law after Gordon Moore, Intel’s founder.
In recent years, these gains have slowed while there has been explosive parallel growth in areas such as cybersecurity, artificial intelligence and online media.
Reconfigure.io has key high-end engineers in the US while it has seen its staff more than double to 11 in the last few weeks.
Taylor, a serial software entrepreneur, said: “As far as we know, we have no direct competitors but we are seeking to move as quickly as possible as compute acceleration is an extremely hot global issue.”
The firm closed a seed round in October from angels in the UK, Switzerland and the US. A further round to speed growth is currently underway.