Data is an essential part of doing business in the digital age. And as the most frequently used saying goes, data is the new oil. But like oil, data that is not redundant is worthless. For startups that provide tools for structuring, managing, and organizing big data, it can be a lucrative business.
In fact, it is modern Report From the Business Research Company, the data integration market is estimated to be valued at up to $19 billion by 2026. Companies in all industries dealing with large data sets must ensure that they maximize the value of their data while staying on the right side of privacy concerns.
Big data has become so important to the business world that it has spawned major conferences, such as LDN Big Data The event, set to kick off this week in the British capital.
Here are five promising British startups in the field of big data UKTN Highlight viewing.
black swan data
was established: 2011
Black Swan Data serves major consumer brands such as Pepsi, Kraft Heinz and P&G, and uses a platform called Trendscope to predict consumer behavior. Trendscope analyzes millions of data points to help customers understand future customer wants and needs.
PepsiCo used data from the platform during the pandemic to follow beverage posts online, which led to the company launching a new product. Black Swan Data raised a £15m funding round in June, led by Oxx. Funding used the capital for further development of the Trendscope platform, as well as further expansion into the US market.
ESG . book
was established: 2018
First incubated in 2018 as a subsidiary outside Arabesque, a consortium of fintech companies, ESG Book launched its corporate environmental data platform in 2021. The company aims to make environmental, social, and governance (ESG) data more accessible to investors and others. financial institutions.
ESG data is used to understand the environmental factors behind companies, an important aspect of the investor due diligence process. In June, ESG Book raised £29 million in a Series B funding round led by Energy Impact Partners along with Paris-based investor Meridiam and Munich-based Allianz X.
3 word title
was established: 2013
Mapping company with a unique touch, What3words has created software to divide the world into squares of 3 meters by 3 meters. Each square is given a unique name to distinguish it. The map data collected by What3words can then be used by companies like DPD and Domino’s Pizza to get accurate location data for deliveries.
In July, What3words announced that its crowdfunding campaign, hosted on the Crowdcube platform, had exceeded its original goal of £1m, raising £5m from more than 7,000 investors.
was established: 2020
Operating in the digital subscription market, M3ter is a startup that can account for licensed software usage, allowing companies in the Software as a Service (SaaS) industry to charge different fees based on usage, rather than a fixed price. Usage-based pricing is an increasingly popular model for SaaS companies, however, it can be difficult to implement.
M3ter came out of stealth mode in February, following a £13m funding round from Kindred Capital, Union Square Ventures and Insight Partners.
was established: 2015
headquarters: Bicester, Oxfordshire
For many years, data, in the form of player statistics, has been essential for sports organizations. But over the past few years, sports teams have increasingly relied on high-quality data on player performance. This is benefited by Oxfordshire startup Sportlight, which tracks large amounts of player data using Light Detection and Range (LiDAR) technology. The data is then used by Premier League football clubs to inform decision-making on transfers and tactics.
Sportlight said it is now working with the majority of the 20 clubs in the Premier League. In June, Sportlight raised £4m in a funding round that included the participation of Southampton’s major shareholder, Sport Republic, as well as Bolt Ventures and Andy Young, former CFO of City Football Group, owners of Premier League champions Manchester City.
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