Leeds-based The Data City valued at £10m following six-figure funding

Leeds-based The Data City has announced that it is looking to expand its AI-driven data platform globally after a six-figure funding round.
Michael Crossland
By Michael Crossland
Published 26th Sep 2023, 16:45 BST

The funding comes from existing backers, Yorkshire-based venture capitalist firm, Venturian, and values The Data City at £10 million, only six years since the company was founded.

The firm intends to use the funding to expand its team and support the expansion of its customer base globally.

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Paul Connell, executive chair of The Data City, said: “This investment is a vital stepping stone in The Data City’s journey to becoming a global data as a service company which will be supported by a Series A funding round during 2025.”

The Data City board. The firm has now achieved a valuation of £10 million after a six-figure funding round from Venturian.The Data City board. The firm has now achieved a valuation of £10 million after a six-figure funding round from Venturian.
The Data City board. The firm has now achieved a valuation of £10 million after a six-figure funding round from Venturian.

The firm said it will grow its team of data analysts and developers to build capacity, as well as strengthening its management team. It also intends to increase the number of third-party data providers it works with to add to the “insight capabilities” of the platform.

The business said it plans to create a minimum of five new jobs in the next 12 months.

Commenting on the investment, Alex Craven, CEO of The Data City, said: “The investment comes after a landmark year for The Data City. The team achieved 100 per cent growth year-on-year and achieved record profits. Our plan was always to take our data platform to a global audience, enabling decision makers to benefit from a real-time, AI-driven understanding of the world’s industries.”

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The Data City’s Global Platform product intends to take the interface, data and functionality of its UK product, and combine it with an expanding global dataset across 11 core territories. The new platform now maps the global emerging economy, which the firm says will allow governments and investors to direct policy and capital on an international scale.

The Data City platform provides uses AI technology to gather data from various sources, including open data sets and company financials, and is designed to help users make discoveries quickly and easily.

The UK platform already comprises a database of over 5.3 million UK companies and 350 real-time industrial classifications. The firm works with global businesses, including The Department for Science, Innovation and Technology, Lloyds Banking Group and The Royal Academy of Engineering.

The core global offer includes data and company records across the world’s key economic territories, including the USA (40.2 million companies), France (13 million companies) and Germany (12 million companies), with 13 million companies matched to URL.

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