Data Certainty Services Group IDS, Secures £2m Investment
29 Sep, 2022 | IDS
Data Certainty Services Group IDS, Secures £2m Investment Ahead of the launch of its iData 2.0 Data Quality Management and Transformation Toolkit.
October 4th, 2022, Manchester UK., IDS, the leaders in data certainty have received a major boost to their growth plans having secured an initial investment of £1.3m from NPIF Maven Equity Finance, managed by Maven Capital Partners (“Maven”), one of the UK’s most active SME investors, and part of the Northern Powerhouse Investment Fund (“NPIF”), with a further £700,000 in cash available for later drawdown.
IDS has built a strong track record of providing successful data transformation and consultancy services for numerous blue-chip enterprises and public sector customers since its formation in 2015. The new cash injection will enable the company to accelerate plans for the launch of its latest data quality transformation toolkit, iData 2.0. A fully automated solution. Set to revolutionize the burgeoning data quality management market, iData 2.0 guarantees data certainty for organizations transitioning to new ERP, PMS, or CMS systems as a crucial part of their Digital Transformation strategy.
iData 2.0 is the result of continuous development and refinement of the IDS data assurance management and migration toolkit acquired over the past 7 years, which significantly improves the user experience via a workflow-driven approach and a reduced dependency on users’ technical capability. Based on its Kovenant™ Methodology IDS’ iData 2.0 offers enriched data management coupled with its data assurance engine, which delivers both Data Quality, Migration, and Data simulation capabilities.
James Briers, IDS CTO, commented “Many companies looking to transition to a digitized IT infrastructure have been daunted by the cost and complexity of traditional, manual data migration tools and methodologies needed to update their legacy systems. iData 2.0 is an extension of our fully automated toolkit which not only significantly reduces the time, and hence the cost, to complete the process but also removes the human error factor guaranteeing data is migrated and transformed with 100% accuracy.”
“This investment will enable us to strengthen our team of data experts, support our channel sales and marketing programme and continue to develop our iData toolkit for every stage of the data management process, be that Data Quality, ETL or Quality Assurance for a new application. Uniquely it will also enable any organization to leverage the full business potential of their data assets regardless of their level of analytical experience.
The business is now in a great position to capitalize on the increasing demand in the emerging data quality tools (DQT) market which is now expected to see an annual growth of 19.2% over the next five years.”
Alex Rothwell, Investment Director at Maven, said “We are delighted to be invested in IDS, who offer their clients an invaluable service, exceeding alternatives in the market. The company has proven its ability to sell to corporates profitably and has received strong references from a range of existing clients. Our diligence has enabled our team to recognize the company’s market-leading product and the opportunities that could be had in this evolving sector.
This is due to these tools being implemented across many industries, resulting in a significant boost in the Business Software and Services Market. The businesses iData product is perfectly positioned to take advantage of the regulatory pressures that large enterprises have been faced with at the forefront of corporate governance.”
Co-founded in 2015 by James Briers & Alasdair Moore with a vision to create a suite of solutions raising the bar in terms of data quality and testing, IDS has grown to become one of the UK’s leading data certainty services groups offering major enterprises and public sector organizations innovative solutions to the problem of maintaining the integrity of their data assets.
By focussing investment in developing tools and services designed to save time and costs by reducing manual processes we aim to de-risk data transformation, migration and quality assurance needs for our clients. Whether it is for a major bank, implementing a composable ERP architecture, a pharmaceutical moving to the cloud, or a public sector organization we promise to deliver 100% data certainty, through 100% of any transformation, 100% of the time.
Maven was formed in 2009 following a management buyout of the private equity business of Aberdeen Asset Management PLC. The senior team who led the transaction have worked together since 2004 and have transformed Maven into one of the UK’s most active SME investors, helping hundreds of management teams to achieve their business ambitions.
We now have a presence in 10 key cities across the UK, with a team that is recognized as having a collaborative and respectful culture, in supporting the growth of a wide range of public and private companies.
In 2021 Maven was acquired by Mattioli Woods PLC, a leading provider of specialist wealth management and financial planning services. This partnership continues our ethos of supporting ambition, working with like-minded people who share the same passion and enthusiasm for delivering exceptional client outcomes.
About The Northern Powerhouse Investment Fund
The Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium-sized businesses secure the funding they need for growth and development.
The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank.
Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity,
The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company.
The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Hull and East Yorkshire, Leeds City Region, South Yorkshire Mayoral Combined Authority, York & North Yorkshire
The project is receiving up to £140,359,192 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Levelling Up, Housing and Communities is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit www.gov.uk/european-growth-funding.
The funds in which Northern Powerhouse Investment Fund invests are open to businesses with material operations or planning to open material operations, in, Yorkshire and the Humber, the North West and Tees Valley.
For more information please contact
Elizabeth Kenina, IDS Senior Marketing Manager on +44(0)161 240 3603 or email email@example.com