Exonar, the data science firm based in West Berkshire, has managed to rake in £1.25 million from investors including Winton Group and Amadeus Capital. Winton’s investment was a total of £750,000, and the firm also attracted the support of a series of existing Angel backers.
Data science company Exonar seeks to solve a problem common to all organisations and their senior information owners: “I just don’t know what data I’ve got”. It claims to help customers organize their information while at the same time removing risk. The Exonar solution features mapping and interpretation of an organisation’s data, identifying issues, reducing risk and making it more productive and secure.
In order to comply with existing regulation, new tools are needed to get organisational data under control and address the challenges raised. Exonar’s platform makes use of a combined mix of modern, big data architecture along with advanced search, language processing and machine learning that results in a rapid, accurate and scalable understanding of an organisation’s information, mapping where risky information and data is stored and suggesting a simple path to address the issues at hand.
Adrian Barrett, Exonar’s founder and CEO, commented on the raise:
We are delighted to welcome Winton and Amadeus as key investors. The opportunity to help organisations comply with GDPR is extensive and it was important that we found investors with the scale and ambition to enable Exonar to maximise this opportunity.
The firm plans to use the new inflow of funds to expand the availability of the firm’s Information Intelligence platform across Europe. This latest round brings Exonar’s total raised to £3.3 million in investment from a mixture of experienced business Angels, Winton Ventures and Amadeus Capital Partners.
Nick Saunders, chief operating officer at Winton, spoke about the company’s decision to back the firm:
Exonar’s approach to machine learning for intelligent classification allows businesses to understand what data is actually on their networks and protect it accordingly. We believe that a wide range of customers will be able to benefit from Exonar’s experience in tackling large complex information management problems
According to Alex van Someren, managing partner of early stage funds at Amadeus Capital Partners, the investment would allow Exonar to usher in much-needed simplification of compliance with the EU GDPR, therefore enabling “organisations to identify if and where they hold sensitive data”.
