Leeds-based scale-up technology company, The Data City, has marked its sixth year of consecutive growth with significant progress against its mission to build a new global industrial classification system.
The company has seen its turnover rise 63% to £1.25m in the financial year 23/24 and grown its team to 20.
The Data City has made significant updates to its data platform, with insight now available on female founders, the addition of GVA, company births and deaths, ESG statements, job postings over time, and growth filters.
The firm has completed large projects, which included helping the Government’s Department for Science, Innovation and Technology (DSIT) map innovation clusters across the country to support investment and target growth.
Alex Craven, CEO, said: “The Data City continues to go from strength-to-strength with profitable growth as we expand the platform and target new markets worldwide.
“From founding the company in 2017, we have been on a mission to create a new industrial classification system as an alternative to SIC codes.
“Our Real-Time Industry Classifications are relevant to the modern economy and dynamic to reflect the rapid technology-driven changes we’re seeing.”
The Data City argues vague SIC codes can lead to a poor understanding of companies and the broader economy.
As an example, it points out that the SIC code 82990, ‘Other business support services’, includes Amazon UK, Sony Interactive Entertainment Network Europe, Santander, Google and Facebook.
The Data City team has recently worked with the Energy and Climate Intelligence Unit (ECIU) and CBI Economics to map the UK’s net zero economy and uncovered the gender investment gap in partnership with Panintelligence.
