Beringea commits to Big Data’s £1.25m series-A

The funding will be used to accelerate the growth of the core team, specifically towards engineering, data science, sales and marketing, in order to meet increasing demand. Beringea and Big Data will then focus on expansion in Europe and the US as part of their growth strategy.

The ProVen Growth and Income VCT and ProVen VCT were used to make the investment.

Beringea says it was attracted to Big Data because the demand for big data skills is outstripping supply and it is one of the few companies addressing this gap. The GP met Big Data at a conference approximately 15 months ago and, after formalising its big data strategy, contacted the company again earlier this year.

This is the latest deal in the big data sector, which has seen private equity interest grow over the last 18 months. In March 2013, Wellington Partners backed a £600,000 seed funding round for import.io, a UK-based big data platform, while Belgium-based big data company Ngdata has raised a total of $5.8m since October 2012.

Company
Founded in 2012 by Mike Merritt-Holmes, Pinal Gandhi and Tim Seears, Big Data provides specialist solutions in its eponymous field. It offers data science, big data engineering and certified training and support to industries including web, financial services, telecoms, utilities, defence and media. Its client base includes several Fortune 500 companies.

Headquartered in London, the 28-strong company provides scalable solutions to capture, store and analyse big data to solve problems, identify new revenue streams and develop solutions that meet specific customer requirements.

People
Trevor Hope is chief investment officer at Beringea and will join Big Data's board. Mike Merritt-Holmes is co-founder and CEO of the business.

Advisers
Equity – Marriott Harrison (Legal); Castaing (Financial due diligence).

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