Solidatus raises £14m in Series A funding

Solidatus, a data lineage and metadata management company, has raised £14 million in a Series A funding round led by AlbionVC.

The deal was led by Emil Gigov and Jay Wilson for AlbionVC, and included two of Solidatus’ global enterprise clients, HSBC Ventures and Citi. As part of the commitment, Jay Wilson will join Solidatus’ Board of Directors.

Solidatus said it empowers organisations to map, manage and monetise their data, and that its clients - which include global financial, pharmaceutical and consulting firms - use its software to visualise their data estates, track data through their enterprise to drive business intelligence, and for digital transformation and regulatory compliance.

In addition, Solidatus claimed the company more than doubled in size last year, quadrupled its revenue, and entered the Gartner Magic Quadrant in Metadata Management.

The company also said it recently expanded into aerospace, manufacturing, telecommunications and government and was awarded the Best Data Governance Solution by Data Management Insights, as well as joining the ranks of the RegTech 100.

The announcement concluded that the aim of the funding is to accelerate its planned global expansion, extend into the US, Europe and Asia, and deliver data management capabilities to new industry verticals.

“As a large global bank, we manage complex organisational metadata,” said Kate Platonova, chief data and architecture officer at HSBC. “Through our partnership with Solidatus we have dramatically improved some of our workflows, reducing both the risk and speed to market for some of our major international programmes.”

“Their graph technology has been particularly instrumental in helping us to achieve this.”

She added: “As management of metadata becomes ever more critical to success, we believe Solidatus will play an increasingly strategic role for HSBC in the future.”

Philip Dutton, co-founder of Solidatus, said: “Solidatus was built to revolutionise the data economy.

“The completion of Series A is confirmation that we’ve engineered the right solution to meet the complex needs of data-rich and regulated organisations, delivering a modern, agile and scalable solution.”

He added: “We are looking forward to working alongside our investors to accelerate the delivery of organisational transformation and control to new markets and clients with the same level of commitment to the highest standards of service that are key to the Solidatus offering.”

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