The Data City eyes growth with £2 million backing

A tech operator is rolling out international expansion plans after securing £2 million support.

The Data City has been backed by advisory firm Oxford Economics.

Bosses at the Leeds-based company say the investment will help found a global industrial classification system and develop a US joint venture alongside its funding partner.

They add it will allow the artificial intelligence data business to expand services for UK-based multinational clients while providing working capital to support its growth.

The investment is the largest received by The Data City, which works with organisations including NatWest, Lloyds Banking Group, Allianz and numerous Government departments.

Alex Craven, The Data City chief executive, said: “This rounds off a remarkable period of sustained growth.

“Oxford Economics shares our vision and ambition of global expansion.

“Central to our growth strategy is our innovative global data platform, which provides unparalleled access to insights from millions of companies across the US and Europe.

“This is a major milestone in becoming a global data-as-a-service company.

“With Oxford Economics on board, we’re set to expand our reach, particularly in North America, and strengthen our position as the go-to source for industry classification.”

Adrian Cooper, Oxford Economics’ chief executive, added: “Our clients need access to data that reflects the economy as it is today, not how it was classified in 2007.

“The Data City is redefining how businesses, investors and policymakers understand industries.

“We’re excited to support their next phase of growth.”

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