Datanomic Secures a Further $3.5 Million Investment to Accelerate Geographic Expansion, Global Partnerships and Key Lines of Business

10 March 2008

Data quality specialists, Datanomic Ltd, today announced that it has secured a further $3.5 million investment on the back of a year of record growth and commercial momentum. The investment, provided by 3i, DN Capital and Silicon Valley Bank, will fund Datanomic’s geographical expansion, strategic partnership activities, and help develop market penetration within its two core lines of business – SPS (Sanctions PEP Screening) and DQI (Data Quality Integration).

The latest round of funding enables Datanomic to accelerate its expansion plans, following an unprecedented year of growth and customer response to its market leading solutions. Fuelled by demand for its award-winning data quality platform, Datanomic grew revenues by more than 300 percent over the past twelve months and secured more than 50 new customers in the Financial Services, Telecoms and Retail markets.

“There are a number of key factors underpinning our growth, such as legislative drivers around compliance and risk management, as well as the need for stable migration and integration of business critical data,” said Dr Jonathan Pell, CEO of Datanomic Ltd. “This latest round of funding is not only an endorsement of investor confidence in our rapidly growing market, but also in our strategic business plan and the opportunities around customer acquisition, global growth and technology leadership.”

Datanomic’s global partner network is a critical part of its growth strategy. The company is continuing to expand its partner network, securing strategic partnerships that offer solutions for compliance, risk management and business critical applications. This has spearheaded Datanomic activities into new vertical markets as well as new countries. The company’s SPS line of business directly address the ‘Know Your Customer’ data challenges faced by customers on a daily basis. Likewise, Datanomic’s DQI solutions help minimize the risk of their data migration projects failing or overrunning due to data issues.

“Our dn:Director platform and our associated data quality solutions continue to win industry accolades and analyst praise. We have become the de-facto standard of choice for numerous blue chip organisations, and are now seeing significant uptake from the SME community,” said Dr Jonathan Pell, CEO of Datanomic Ltd. “Companies realize the proactive steps required to manage data quality as a strategic resource and a valuable asset. Datanomic has become synonymous with first class data quality solutions for companies that are serious about protecting their data assets and managing risk. This latest round of funding will enable us to maximize our expansion, partnerships and market penetration.”

dn:Director continues to go from strength to strength and has been hailed by industry analysts as the world’s most flexible data quality and integration software. The dn:Director platform is designed to understand, improve, protect and control the quality of information in decision support systems and applications, enabling effective new system implementations, master data management, regulatory compliance, CRM, ERP and business intelligence. The ease of use of the latest version, dn:Director 6.2, means that it can be rapidly implemented – from installation to implementation in as little as 30 minutes. dn:Director platform has become the benchmark by which other vendors compare their own functionality.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development