The £130m Investment Fund for Wales has made a strategic move by supporting Assured Insights, marking its second equity investment.
- Managed by Foresight Group, the fund aims to enhance economic development through strategic investments.
- Assured Insights is set to open a new data engineering hub in Cardiff, expanding its operational footprint.
- The investment also involves support from the Midlands Engine Investment Fund.
- The partnership is poised to drive innovation in data analytics with a focus on high-quality data solutions.
The £130m Investment Fund for Wales has strategically invested in Assured Insights, marking its second equity investment. This move underscores the fund’s commitment to fostering business growth in the data analytics sector.
Managed by Foresight Group, the equity element of the fund seeks to boost economic development by empowering innovative companies. The Welsh investment aims to enhance Assured Insights’ growth plans, which align with the UK Government’s economic development goals through the British Business Bank.
Assured Insights is making strides in data analytics, establishing a new office and data engineering hub in Cardiff at Tramshed Tech. This expansion supports its business consolidation platform, DataWorks, designed to streamline siloed data into a single, reliable source. The Cardiff hub will create skilled jobs, further benefiting the local economy.
The investment also enjoys backing from the British Business Bank’s Midlands Engine Investment Fund. This dual support from different regions signifies a robust confidence in Assured Insights’ capabilities and its innovative approach to data management.
Jon Singleton, co-founder and chief executive of Assured Insights, highlighted the growing need for companies to achieve data maturity, stating: “Achieving a state of data maturity which sees trusted data being available to the whole business is a big challenge for many companies. DataWorks addresses this and builds a solid data foundation needed to support any modern, data proficient business.”
Steve Galvin of Foresight remarked on the significance of Assured Insights’ growth, emphasizing its positive impact on the Welsh economy through job creation. The software developed by Assured Insights is noted for transforming data management by integrating data architecture with analytics and visualisation.
According to Mark Sterritt, director of the British Business Bank, the Investment Fund for Wales is actively supporting innovative businesses like Assured Insights, aiding their Welsh expansion with the new Cardiff office.
The strategic investment by the Investment Fund for Wales fortifies Assured Insights’ expansion and further stimulates the regional economy through innovation and job creation.
