The funding round values The Data City at £10m, with financial backing from Yorkshire-based venture capitalist firm Venturian.

The Data City will use the funding to expand its team and customer base worldwide to 11 core territories, with the company currently serving Europe and the US.

The Data City platform provides real-time company data on emerging economic sectors, using artificial intelligence (AI) to gather data from various sources, including open data sets and company financials.

Alex Craven, chief executive at The Data City, said: “The investment comes after a landmark year for The Data City. The team achieved 100% growth year-on-year and achieved record profits.

“Our plan was always to take our data platform to a global audience, enabling decision makers to benefit from a real-time, AI-driven understanding of the world’s industries.”

Paul Connell, executive chair at The Data City, said: “This investment is a vital steppingstone in The Data City’s journey to becoming a global data as a service company, which will be supported by a Series A funding round during 2025.”

Greg Allsopp, investment director at Venturian, added: “The Data City is changing the way companies and organisations use data to inform the decisions that matter. It has quickly established itself as a respected data partner in the UK and is ready to take the next step in its global expansion.”