Data science start-up Black Swan clinches £3m investment
London-based company will use investment to accelerate development of its proprietary technology and fuel global expansion
Black Swan, a London-based big data science start-up, has raised £3m in a funding round led by Japanese investment firm Mitsui.
Launched in 2011, Black Swan converts big data into valuable predictions for its clients by applying data science and natural language predictions to information such as news, weather and social data.
Its team of 210 strong team of digital developers, planners and data scientists can help forecast seasonal events for retailers, interpret supply chain demand and logistics for manufacturers, and trigger social media warning campaigns for pharmaceutical businesses.
It will use the investment to fuel development of its proprietary data unification platform The NEST, and will also up its expansion in the US and Japan.
Steve King, CEO of Black Swan, commented: “We’re delighted to be working with Mitsui. After three years of organic growth it’s going to dramatically change the pace of our international plans. Mitsui are the perfect partner to support our plans for new product innovation and entry into new markets.”
Jun-ichi Shibuta of Mitsui & Co., Ltd, said:
“We believe that the trend towards predictive data analytics will affect all industries and the way they think about corporate strategy, so it’s logical that utilising big data will become increasingly more important to maintain and strengthen businesses, which is why we are collaborating with Black Swan.”