UK software firm Clarida Technologies has raised €5 million at a valuation of €100 million. The investors have not been named.
Clarida develops automated data discovery software for sectors like industry, government, and healthcare. This marks the company’s first significant funding round. The company had eschewed investors to avoid losing control of its direction, said Robin Poelmans, CEO (pictured, left).
“This investment is a deal we like; it has a simple structure where the control remains in our hands, no sneaky clawback clauses, we have the freedom to buy-out the investor and it is an investor that understand the added value we can bring,” he said.
The new funds will be used to expand the team and prepare its products for internationalising.
“We finished this product suite earlier this year and want to focus our efforts now on the shift from being mostly concerned about creating the most powerful data-discovery product possible towards commercializing it at scale and providing organisations the tools to convert a ubiquitous commodity, their data, into one of their most valuable assets,” the CEO said.
Clarida has built its products for “non-technical people with zero programming skills”, added Jonas Poelmans, CTO (pictured, right). “Clarida software can be up and running within minutes, can handle billions of data records and data of different formats.”