Data science company Black Swan has raised £6.2m in Series A funding from Albion Ventures, Blackstone and Mitsui.
Founded in 2011, the company said in a statement that it would use the money to boost its growth and expand its proprietary software platform known as ‘The Nest’.
Steve King, CEO and co-founder at Black Swan, spoke about the raise: “Black Swan’s seen some phenomenal growth over the last 18 months and this has been reflected in the conversations we’ve been having with investors and clients alike. At the start of the year, it was very straightforward to raise the amount we wanted from Blackstone and Mitsui, but there was an opportunity to add to the round with Albion Ventures to accelerate our plans further.”
He continued: “We’re at the forefront of this industry opportunity and we’re working with some of the world’s biggest brands to help them not only make sense of the data around them, but use to gain a competitive advantage and better engage with their audiences. It’s fantastic to have Albion Ventures join our corner, helping us to attract amazing talent like Jeff and Simon, develop and scale our technology quicker and move rapidly to capitalise on the market.”
Although it is headquartered in London, Black Swan also has offices in Bristol, Exeter, Hungary, Los Angeles, New York, Singapore, South Africa and Toronto and employs more than 240 people.
Ed Lascelles, partner at Albion Ventures, said: “We are thrilled to partner Steve and Hugo through our investment in Black Swan. This is an exciting company, with an outstanding team and high profile customers in a high growth market. Businesses that leverage data intelligently will lead the way and Black Swan has the potential to become the leading provider of automated, predictive analytics to the digital marketing sector.”
“Mitsui is investing in global business innovation across a variety of key business sectors,” added Jun-ichi Shibuta, general manager of IT platform div, IT & communications business unit at Mitsui.
“We believe that the trend towards predictive data analytics will affect all industries and the way they think about corporate strategy, so it’s logical that utilising big data will become increasingly more important to maintain and strengthen businesses, which is why we’ve collaborated with Black Swan,” concluded Shibuta.