Maven Capital Partners, one of the UK’s most popular groups in growth businesses, has invested £2.5 million in Cardinality, a and data analytics firm. Cardinality has recently developed a data ingestion and analytics platform called ‘Perception’ that allows the customers to run, manage datasets in real-time and at a massive scale.
The system uses Artificial Intelligence and Machine Learning to enable its customers to address the growing challenges of analyzing Big Data and extracting the hidden value in that data to provide powerful insights. The demand for data analytics is going up due to digital transformations worldwide.
Founded in 2015, the company provides services to the telecoms sector, including customers like Vodafone, Telefonica, Etisalat, and Zain. Maven’s investment will enable Cardinality to expand its existing foothold within its beachhead market as well as expand ‘Perception’ into other areas, including financial services and energy, while helping accelerate its presence in the North American market.
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, is highly experienced, and we have been impressed by what they have achieved in what is a competitive market.”