Maven invests GBP2m in data analytics company HubIsoft
UK private equity house Maven Capital Partners has made a GBP2 million investment in technology company HubIsoft Group.
The transaction has been funded through Maven’s managed VCTs, and Gareth Price, Investment Director at Maven, will sit on Hublsoft’s board.
HubIsoft brings new technology to the market that is challenging the way data analytics is exploited to better support decision makers. Over the past two decades, rising complexity of data has resulted in a widening gap between the technical analysis and modelling of this data and key business decision makers. Businesses are therefore finding it harder to access, and trust in the validity of, their own data and exploit it with success.
HubIsoft´s smart user interface enables the analysis process to be intuitive, non-technical and engaging. Its solution is opening up the possibilities of big data to clients who had previously found this field overly complicated or heavily reliant on third parties.
Hublsoft’s platform is made up of two core integrated technology components: a visual definition of a business landscape, enabling technical and non-technical users to collaborate and perform on demand data analysis and storytelling, as well as a data automation and governance framework to transform and shape any data into the business user’s own language. The company’s software is now being used by a growing number of blue-chip clients including global leaders in the technology service provider market.
Hublsoft’s product sits on the borders of the Analytics and Business Information (BI) software market, which has an annual value of USD55 billion. The company will use the funding from Maven to further invest in the development of its SaaS platform as well as sales and marketing to help grow its footprint in the UK and new markets across Europe.
Gareth Price, Investment Director at Maven, says: “Hublsoft has developed an innovative proprietary data visualisation product which is addressing a large and growing corporate market and, despite the company still being at a relatively early stage, it has already been successful in attracting an impressive range of blue-chip clients with a low churn rate. The market opportunity is significant, and Maven’s investment will enable the business to scale-up and capitalise on the increased demand from brands to utilise big data to make improvements to the retail and wholesale performance of their products. Today’s funding highlights Maven’s ongoing commitment to support fast-growing UK businesses.”
Nick Cowlen, CEO at HubIsoft, adds: “We’re excited to bring new technology to support businesses at a time they are facing some of their greatest challenges. We’ve an exceptional team and a brilliant product, together we’ve made a big impression so far and have no doubt in the impact we can make in the future. We are absolutely thrilled to welcome Maven on board.”