Published: Apr 14, 2021
Focus:
Growth Capital
The Maven VCTs have invested £2.5 million in Cardinality, a software and service provider which has developed a data ingestion and analytics platform called ‘Perception’, that allows its customers to run, manage and derive value from datasets in real time and at scale.
Cardinality’s proprietary system utilises artificial Intelligence (AI) and machine learning (ML) to help its customers meet the growing challenges of analysing big data and extracting powerful insights which can be used to reduce costs and increase profits.
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, winning contracts with customers including Vodafone, Telefónica, Etisalat and Zain. The investment from the Maven VCTs 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 build its traction in the North American market.
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 at Maven
This investment from Maven is a key milestone for us. Cardinality has developed its Big Data platform specifically to address the growing dependency that data brings to all business sectors. Having proved our platform's scalability, AI and ML technology across a number of leading Tier-1 Mobile Operators across Europe, the Middle East and Asia, this funding will support our growth into other vertical markets.
Steve Preston, CEO at Cardinality
