Contract wins fuel expansion at data firm
A data company is set for global expansion following a year of strong growth.
Leeds-based The Data City will see revenues double to £1.6m this year following a series of high-profile contract wins.
The Data-as-a-Service (DaaS) company has secured over £600,000 in contracts in the last quarter, which is double the same period last year.
It has won new projects with the Department for Business and Trade (DBT), the Government Office for Science and the Department for Science, Innovation and Technology (DSIT), which will see the firm deliver key data and insights vital for economic discovery and growth.
The company is now taking the next step in its growth strategy by developing the first version of its (Beta) Global Product with selected clients.
It will be the first time that company data from the US and the rest of the world will be combined within The Data City’s Classification.
The firm aims to release an e-commerce Global Data City Product in 2024.
The Data City platform provides real-time company data on emerging economic sectors. It uses AI technology to gather data from various sources, including open data sets and company financials.
Alex Craven, CEO of The Data City, said: “We are building a new and more accurate way to understand our economy and the companies that operate within it.
“As a result, leading companies, think tanks and government departments are turning to The Data City as their insight partner of choice.
“Data has become the currency of the modern economy, and as the demand for accurate, timely and relevant information grows, so does the value of those who can provide it.
“Our rapid growth is a testament to data’s critical role in shaping the future of business and society as a whole.”
The company has seen its team grow from 8 to 15 people in the last 12 months. It is continuing to recruit software engineers, data scientists, data analysts and developers.