Luminii provides CDD support to Octopus Ventures on their investment in VaultSpeed
Luminii are delighted to have provided Commercial Due Diligence support to Octopus Ventures on their investment in VaultSpeed, an automated data transformation company, as part of the Company's $15.9 million (€15.1 million) Series A funding.
Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, led the funding round with additional participation from the current lead investor Fortino Capital, PMV, and BNP Paribas Fortis Private Equity.
Following two consecutive years of triple-digit revenue growth, VaultSpeed intends to use the proceeds to expand its strong international presence with a particular focus on the UK and US markets and to further develop the platform automation capabilities.
As more and more enterprise companies move their data to the cloud for faster analytics and data-driven decision-making, data teams are faced with the problem that without automation, it becomes nearly impossible to transform and integrate multi-source data on time, without compromising on quality or quantity. According to market research by Gartner, Worldwide Public Cloud End-User Spending will grow 17.5% to $725 billion by next year. Spending on cloud infrastructure represents the fastest growing market segment.
Launched in Belgium four years ago with seed investment from the Cronos Group and Fortino Capital, VaultSpeed has redesigned data transformation. It not only handles data complexity through transformation but also consolidates the data into a comprehensive target data model, allowing data engineers to customize it according to their requirements in a matter of days and weeks as compared to traditional methods.
VaultSpeed is already offering its automation solutions to global enterprises, particularly in finance, healthcare, and utilities sectors. The company has established strategic partnerships with Snowflake, Microsoft, and Databricks, and has developed a network of over 30 service partners to serve clients on a global scale.
"Luminii are delighted to have supported Octopus on this transaction. This is yet another deal that helps to further strengthen our credentials in the Technology and B2B software sectors. We wish Octopus and VaultSpeed continued success for the future." - Lushani Kodituwakku, Managing Director, Luminii Consulting
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