Black Swan, a tech and data science firm based in London, has received £3m (about $4.3 million) in funding in a round led by Mitsui.
According to a statement, the company will use the newly procured funds to further develop NEST — its proprietary data unification platform — and to expand into the USA and Japan.
“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,” said Steve King, Black Swan’s CEO.
Launched in 2011, Black Swan — which lists Tesco, Argos and NPower as some of its clients — finds correlations at the intersections of public and private data and turns these insights into valuable predictions for its clients.
Jun-ichi Shibuta, general manager of IT Platform Div, IT & Communication Business Unit at Mitsui, said: “Mitsui is investing in global business innovation across a variety of key business sectors.
“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,” the general manager concluded.
This post first appeared on Tech City News.