Current investors Pentech Ventures, Eden Ventures and Oxford Technology Management led the round. As part of the financing, Sandy McKinnon of Pentech and Michael Penington of Oxford Technology will join Acunu’s board.

Currently in private beta with companies in areas including social media, advertising and cloud computing, Acunu’s product provides businesses with software that enables the storage, processing and servicing of very large amounts of data, known as “Big Data”. The product can be used either at a client’s data centre or in the cloud.

Acunu chief executive Tim Moreton comments, ‘Acunu tackles some of the hardest challenges in Big Data, both for start-ups and for large enterprises, reducing time to market and increasing performance. This funding will support our growth and speed the adoption of our technology.’

Founded in 2009, total investment in Acunu, which was started by researchers from Cambridge and Oxford Universities, has now reached £3.1 million. The business is one of 37 UK digital companies that will be part of the UK Trade and Investment (UKTI) Mission to the SXSW trade conference in Texas next month.