Cardinality secures £2.5m in Series A funding from Maven Capital Partners to expand its analytics platform.
Maven Capital Partners led the Series A round to support expansion into new industry verticals and North America.
Cardinality is a software provider that has built a data ingestion and analytics platform named Perception. The system uses artificial intelligence and machine learning to help clients manage and derive value from large datasets.
Cardinality has secured £2.5m in Series A funding from Maven Capital Partners. The capital will support the company as it deepens its presence in the telecoms sector, expands its Perception platform into new verticals such as financial services and energy, and accelerates growth in North America.
Founded in 2015 and based in Guildford, Cardinality has previously built a strong client base among mobile operators including Vodafone, Telefonica, Etisalat and Zain. The investment follows commercial progress and a growing recurring revenue base driven by the demand for enterprise data analytics.
From the founder
"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."
Steve Preston
CEO at Cardinality
Investor perspective
"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."
Luke Matthews
Investment Director, Maven Capital Partners
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Cardinality
Cardinality provides a data ingestion and analytics platform designed to process large datasets in real time.