Solidatus is a winner of numerous awards for its data metadata management and lineage. Today, it announced that it raised PS14m ($19.2mand) through Series A capital to revolutionize how organizations look at the world and comprehend and manage data. AlbionVC led the round, which also included HSBC Ventures and Citi, two of Solidatus’s global enterprise customers. The deal was negotiated by Emil Gigov and Jay Wilson of AlbionVC and included Jay Wilson joining the Solidatus the Solidatus Board of Directors after the purchase.
Solidatus announces the success of its Series A funding round, getting PS14m from the b2b enterprises funds AlbionVC, HSBC, and Citi.
Solidatus helps organizations identify, manage, and monetize their key asset data. Globally, businesses are dealing with complicated data points. The lineage-first strategy advocated by Solidatus provides up to 90% savings over conventional methods. Clients, such as top-tier international pharmaceutical, financial, and consulting companies, utilize the software to analyze and comprehend their data collection, using the capability to track data throughout their business to improve analytics for business, digital transformation, and regulatory compliance.
This year was Solidatus’s most successful year so far, which saw Solidatus nearly double in size and more than quadruple its revenue while keeping its profitability. Due to this achievement, they were the sole new entry in the Gartner Magic Quadrant in Metadata Management and one of the newest companies to achieve a spot in the history of the quadrant.
The company has expanded into various new industries, including manufacturing, aerospace telecoms, government, and aerospace. It is among the Top 10 Globally Systemically Important Banks (GSIBs) in the European and US markets as customers. Additionally, Solidatus was awarded the Best Data Governance solution in the hands of Data Management Insights and included in the RegTech 100.
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Solidatus Raises PS 14 Million in Series A Funding
This Series A funding will see expansion partner, AlbionVC, and strategic partner, HSBC, join Citi to aid in Solidatus, the company’s vision of revolutionizing data engineering. The goal is to accelerate its global expansion plan and further expand into new markets, such as those of the US, Europe, and Asia, in addition to bringing top-of-the-line data administration capabilities to emerging industry sectors.
Kate Platonova, Chief Data and Architecture Officer, HSBC, said: “As an international bank with a significant global footprint that manages complex organizational metadata. Through our collaboration with Solidatus, we have drastically enhanced our workflows while reducing the chance of failure and the speed to market for our most important international programs. Solidatus’ graph technologies have helped help us accomplish this. As metadata management becomes increasingly important to the success of a business, We are confident that Solidatus will play a more crucial role for HSBC shortly.”
Philip Dutton, the co-founder of Solidatus, stated: “Solidatus was built to transform our data economy. The successful completion of Series A proves that we’ve designed the perfect solution for the complex demands of data-rich, regulated organizations, providing a contemporary, efficient, flexible, and scalable product. We look forward to working with our investors to speed up the delivery of organizational transformation and control to new clients and markets in the same manner with the same dedication to the highest quality of service, which is key to Solidatus service.”
Philip Miller, the co-founder of Solidatus, stated: “To have two of the world’s largest banks as our clients as well as investors in our very first capital raise confirms their confidence in Solidatus, the company’s ability to bring quality to the realm of financial services in addition to other services at an enterprise scale. We are looking at working closely with our investors to assist us in taking Solidatus into the next growth stage and to disrupt the market with our innovation.”
Jay Wilson, the investor at AlbionVC and Solidatus board member, said: “The increasing complexity of an organization’s data estates and the growing acceptance of data as an asset with the increasing demands of regulatory agencies has brought data management into the spotlight. Solidatus has created the most advanced product that will tackle the issues facing the industry, and we’re thrilled to be the leader of our first capital raise by institutions to assist the co-founders as well as the company in changing the shape of data lineage as well as the larger data management field.”