Amati Global Investors has led an investment into cloud data management venture Rosslyn Analytics alongside IQ Capital.
The new backer is committing funds to a £2.1 million capital injection which will be used to grow Rosslyn’s international set-up in Europe and the US. Attention will also be shown to expanding sales and marketing and working towards new product capabilities.
Founded in 2007 by Charles Clark and Hugh Cox, Rosslyn has developed a cloud-based product which allows businesses including Coca-Cola to automate the process of data integration, cleansing and enrichment.
Rosslyn’s fundraising comes ahead of a planned initial public offering (IPO) in 2014 when it will look to use access to more institutional investors as a way to grow.
Clark, CEO of Rosslyn, says, ‘At Rosslyn we’re addressing the critical requirement of supporting leading organisations to make strategic decisions, by enabling them to integrate and transform their raw and dirty data that resides in multiple systems into a foundation of increasingly valuable information.
‘This disruptive technology is enabling companies in unlock the hidden value in their data, uncover new and valuable insights and accelerate innovation.’
Previous funding rounds for Rosslyn have included two IQ Capital-led deals. In January 2010 the investor led a £1 million investment alongside a number of high net-worth individuals. It then followed its initial commitment up in May 2012 with an undisclosed amount.
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Away from its headquarters in London, Rosslyn now has an established base in the US through its New York office.
Amati Global Investors CEO Paul Jourdan says that the firm, which is based in Edinburgh and focuses on small and mid-sized companies in the UK, has been impressed by Rosslyn’s ability to engage effectively with significant customers and partners.
‘Today’s businesses face the challenge of devising new strategies for extracting valuable analysis from their corporate data, and a cloud-based approach provides the greatest ease and flexibility for delivering these,’ he adds.
According to Amati, the investor primarily looks to invest in companies quoted on London’s Alternative Investment Market (AIM), but do sometimes back those where the management believe that either an AIM flotation or a trade sale will occur within 24 months.