Source: Maven
Maven Capital Partners, one of the UK’s most active investors in growth businesses, has today announced that it has invested £2.5 million in Cardinality Ltd, a software and service provider which has developed a data ingestion and analytics platform called ‘Perception’, that enables its customers to run, manage and derive value from datasets in real time and at massive scale.
Cardinality’s proprietary system utilises Artificial Intelligence and Machine Learning to enable its customers to address the growing challenges of analysing Big Data and extracting the hidden value in that data to provide powerful insights.
Demand for this technology is expected to continue to grow against a backdrop of data proliferation supported by digital transformations market wide, and the evolution of the cloud.
Founded in 2015, the Guildford based business has primarily serviced the telecoms sector, successfully winning contracts with customers including Vodafone, Telefonica, Etisalat and Zain. Maven’s investment will enable Cardinality to deepen its existing foothold within its beachhead market as well as expand ‘Perception’ into other verticals, including financial services and energy, whilst helping accelerate its traction in the North American market.
Maven has a track record of backing tech-enabled businesses with high-growth potential, having invested approximately £90 million in 44 entrepreneurial private companies on behalf of the Maven VCTs since 2016.
Luke Matthews, Investment Director at Maven, said: “Cardinality offers an excellent opportunity for the Maven VCTs to invest into a scaling business, for which the growth dynamics of the data integration sector provide a positive outlook. The Company has seen good commercial progress to date and its revenues are backed up by a strong pipeline and growing recurring revenue base. The management team, led by CEO Steve Preston, are highly experienced and we have been impressed by what they have achieved in what is a competitive market.”
Steve Preston, CEO at Cardinality, added; “This investment is a key milestone for us. Cardinality has developed its Big Data platform specifically to address this growing dependency that data brings to all business sectors. Having proved our data platform scalability, AI and ML technology across a number of leading Tier-1 Mobile Operators across Europe, Middle East and Asia, this investment now fuels a journey further and wider into other verticals and markets, specifically now that our USA operation is up and running.”