Private equity investment firm Growthdeck – alongside existing investors, IP Group and Parkwalk – has closed a GBP1.575 million fundraise for the secure digital archiving platform Arkivum.
Arkivum helps businesses ensure that the data they have collected remains accessible, secure and usable for decades into the future. It works with businesses, often in highly regulated industries, to deal with the data archiving problems that tech consultancy Forrester has described as a ‘ticking time-bomb’.
Many of the organisations Arkivum works with, such as pharmaceutical companies developing new drugs, are required by regulators to retain clinical trial data for 25 years. Failure to provide the right data when requested can lead to fines and trials coming to a halt.
Arkivum is currently partnering with Google to deliver the EUR4.8 million ARCHIVER data archiving project for a multinational group of scientific research institutions, led by CERN, which operates the Large Hadron Collider in Geneva. The project will store and protect extremely large-scale research data, measured in petabytes (units of one million gigabytes).
Arkivum’s platform can be integrated with cloud-based platforms such as Amazon Web Services, Google Cloud and Microsoft Azure. The platform allows businesses to preserve these valuable digital assets into the future, protecting them from loss, corruption and hardware failure. Arkivum also guarantees that the data will be readable and usable in the future.
Allyson Clarke, Relationship Director at Growthdeck, says: “We’re excited to be backing a business that solves such a vitally important and growing issue – the preservation of data, now and in the future.”
“Many of our life-saving industries, such as pharmaceuticals and scientific exploration, rely heavily on keeping extremely valuable data records safe to allow them to complete their investigations. As a key provider to these vital services, Arkivum’s solutions outperform anything else currently on the market.”
Growthdeck’s equity investment in Arkivum qualifies for tax reliefs under the Enterprise Investment Scheme (EIS). EIS is an investment scheme which allows private investors to make tax savings by investing in growth businesses.
