Glasgow's Maven Capital Partners pumps £2.5m into growing data analytics specialist

Maven has invested some £90m in 44 entrepreneurial private companies on behalf of the Maven venture capital trusts since 2016. Picture: Jon Savage

Luke Matthews, investment director at Maven, said software and service provider Cardinality had seen good commercial progress since it was founded in 2015.

The firm has developed an analytics platform called Perception, that enables its customers to “run, manage and derive value from datasets in real time and at massive scale”.

Demand for its technology is expected to continue to grow against a backdrop of data proliferation supported by the evolution of cloud computing.

Matthews said: “Cardinality offers an excellent opportunity for the Maven VCTs [venture capital trusts] 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.”

Preston, chief executive at Guildford-based 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.

“This investment now fuels a journey further and wider into other verticals and markets, specifically now that our USA operation is up and running.”

Maven has invested some £90m in 44 entrepreneurial private companies on behalf of the Maven venture capital trusts since 2016.

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