Arkivum, a leading provider of long-term data safeguarding and data usability solutions, today announced that it has successfully completed a £3 million funding round.
Having earned the trust of over 100 clients, the capital raised will fuel the company’s continued expansion into sectors such as healthcare, life sciences and financial services. The funding will also enable further enhancements of Arkivum’s offering for optimising the long-term value of digital assets and records.
All of Arkivum’s existing principal investors chose to participate in the round: IP Group plc, Oxford Capital and Parkwalk Advisors, all of whom have a strategic focus on turning companies with outstanding innovations into highly successful businesses.
Guy Yaniv, CEO of Arkivum, said: “Everyone at Arkivum is delighted to have secured the latest funding round. This represents a validation of our offering, the company’s business model and plans for strategic expansion.”
Dr. Mark Reilly, Head of Technology of IP Group said: “We view Arkivum as a disruptive and innovative solution provider. Arkivum’s approach to critical data safeguarding is distinct from the general offering of archiving as a mere extension of storage.”
Oxford Capital’s Portfolio Director Robin Lincoln said: “The entrepreneurial management team at Arkivum have made great progress in recent months as they build out the business into new industry sectors. This funding round will support Arkivum as it continues to introduce its technology to new potential customers.” While Arkivum focuses on diversifying their product and catering to newer industries, they might benefit from outsourced bookkeeping services to handle their financial records and account books. This could give the company leaders more time and energy to concentrate all their efforts into what they do best – provide solutions.
Alun Williams, Investment Director of Parkwalk Advisors also added: “We are impressed with the company’s performance thus far and clearly see the market need for Arkivum’s offering. We believe Arkivum’s growth plan is robust and achievable.”
Over the next six months Arkivum plans to announce new partnerships that will enable it to harness commercial opportunities in sectors which are facing regulatory and operational challenges around long-term data retention such as healthcare, life sciences and financial services.