BGF takes minority in Datum360

The investment is greater than £2m.

The fresh funding will be used to accelerate growth and address market demand. The company has offices in Australia and plans to open a US base in 2021.

Datum360's management team first met with BGF in September 2020, according to a statement.

BGF's Newcastle team, which was established in 2018, led the deal.

Previous funding
The North East Technology Fund provided a seed investment of £500,000 in 2012 and an additional £450,000 for the company in 2013.

Company
Datum360's software platform connects disparate systems, providing a data backbone that manages critical engineering and asset management data for a range of customers in the energy, mining, utilities, road and rail infrastructure sectors. Founded in 2009, the company is based in Stockton-on-Tees.

People
BGF – Chris Boyes (investor).

Advisers
Equity – Schofield Sweeney, Steven Millward (legal); Tax Advisory Partnership, Russ Cahill (tax).
Company – Weightmans, Duncan Reid (legal); Deloitte, Gordon Rowell (tax).

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• Topics
• Expansion
• UK / Ireland
• Technology
• BGF (Business Growth Fund)
• Deloitte
• Minority investing