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Software firm DiffusionData expands to Newcastle after £1m raise

DiffusionData Newcastle
Image credit: Shutterstock

Reading-headquartered software company DiffusionData is creating an engineering and testing facility in Newcastle following a £1m raise from venture capital firm Maven.

DiffusionData will establish the new facility at The Core in Newcastle City Centre, where it will hire 10 additional employees.

Grethe Brown, CEO, DiffusionData, said: “Our key customers are expanding their use of the DiffusionData platform, new customers are rapidly coming on board, and we are getting noticed. This added confidence in DiffusionData will assist us in establishing an extended quality and performance team based in the North East.”

DiffusionData’s software provides businesses with “real-time, data streaming and messaging solutions that  reduce network bandwidth requirements”.

Newcastle and the surrounding North East is a burgeoning tech sector, which is home to tech firms such as product sampling platform SoPost and fintech Kani Payments, along with Sage Group, one of the UK’s largest tech companies.

DiffusionData, formerly known as Push Technology, raised £10m in April 2020 and £2.55m in May of last year.

“It’s fantastic to see DiffusionData expanding into the North East region demonstrating the continued confidence in setting up bases here to push forward with growth and development of these tech-focused companies,” said Michael Dickens, investment manager at Maven.

Read more: Tech on the Tyne – a UKTN regional report