Member Article

Teesside software firm wins £500,000 investment

A Teesside-based software provider specialising in services to the gas and oil sector is set to expand rapidly thanks to a £500,000 investment from the Finance for Business North East Technology Fund.

Datum 360 was formed in 2009, but has quickly established itself as an expert in specialist engineering informatics, working on analysing and resolving issues around managing complex engineering formation on large capital projects and assets.

Thanks to the investment, which is being managed by the IP Group plc, Datum 360 will now be able to release a cloud-based Saas offering, which will introduce new capabilities in to the industry.

Steven Wilson, managing director of Datum 360 believes that the time is now right to accelerate the growth of the business.

He commented: “The business was set up to address gaps in the traditional information management practices that we saw in many projects.

“We knew there was a market for Datum360 for that reason and chose to be based on Teesside because of the strength of industry and the skilled workers that are here and as we grow, we hope to be able to capitalise on that.

“The investment comes at an important time for us in our growth, and will enable us to develop
our consulting services and software – we are creating a concept that will give new capability to the industry.”

Datum 360 has worked with a number of blue chip clients on projects around the world including ConocoPhilips and BP.

Nick Edgar, Investment Manager at IP Group plc in Newcastle, said: “Datum 360 is a business which has built on the experience of its founders to devise much-needed solutions to challenges in the offshore IT sector.

“We are pleased to be able to support it at an important stage in its growth.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .