Oxford Capital leads £1.9m backing of ‘big data’ storage provider
Backing of Arkivum will accelerate roll-out of customer offering
Specialist growth capital investor Oxford Capital today announced it has led an investment into ‘big data’ digital archive provider Arkivum, which it says will be worth up to £1.9m.
Founded in early 2011 as a spin-out from the University of Southampton, Arkivum specialises in digital archiving services for large organisations with complex storage needs.
It claims to be one of the only companies that provides a 100% guarantee of the integrity of data for its clients by backing up information across multiple locations in secure UK-based data centres.
Since foundation it has gained a number of high-profile clients, including the Tate galleries and Janet – an organisation which manages data networks for universities and research organisations.
Oxford Capital led the investment into Arkivum, alongside existing investors IP Group and Parkwalk Advisors.
Arkivum said the investment would enable it to accelerate the commercial roll-out of its data archiving service, widen its customer base and invest in marketing.
Jim Cook, chief executive officer of Arkivum, said: “We’ve made significant progress in recent months, establishing a number of successful customer and partner relationships. We’re now poised to build on our successes by expanding our partner and channel base.
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“We are very pleased to welcome Oxford Capital as an investor in our business. They have a great reputation and enviable track record in helping high tech businesses to achieve commercial success.”
Kimberley Marvell Curry of Oxford Capital added: “‘Big-data’ companies in sectors including healthcare, financial services and media production and university research departments, create and store huge volumes of information. Many organisations have a regulatory requirement to retain data for twenty years or more – with more data being added every year.
“Arkivum is offering a complete archiving solution which combines the benefits of a ‘Software as a Service’ business model with the potential for ultra long-term customer relationships. Arkivum is also the only company in the market to offer an insurance-backed guarantee of data integrity. We believe it is well-positioned to generate recurring revenues in a high-growth market sector.”