Investment Fund Wales has made its second equity investment into Assured Insights.
- The fund is managed by the Foresight Group on behalf of the British Business Bank.
- Assured Insights, a data analytics firm, is expanding with a new hub in Cardiff.
- Investment includes support from the Midlands Engine Investment Fund.
- New office in Cardiff set to boost local economy with skilled job opportunities.
The £130 million Investment Fund Wales, managed by Foresight Group for the British Business Bank, has executed its second equity investment aimed at nurturing the growth of Assured Insights, an innovative data analytics company. This strategic move underscores the fund’s commitment to fostering economic development in Wales.
Assured Insights, headquartered in Stockport, is further expanding its operations by establishing a new office at Tramshed Tech in Cardiff, which will serve as a data engineering hub. This expansion is supported by the Midlands Engine Investment Fund, also managed by Foresight since 2018, indicating a robust backing for Assured Insights’ growth ambitions.
The company’s flagship product, DataWorks, is designed to help businesses consolidate siloed data from various systems into a single, reliable platform. Their current clientele includes high-profile entities such as The Ivy Restaurant Group, Sucden Financial, and Vernon Building Society, highlighting the product’s practical efficacy.
Jon Singleton, co-founder and CEO of Assured Insights, detailed the challenges companies face with data capabilities. ‘Achieving a state of data maturity to support modern business is a significant challenge that DataWorks addresses,’ he stated, reinforcing the company’s solution-oriented approach.
Steve Galvin from Foresight expressed enthusiasm for supporting Assured Insights, noting the company’s potential to significantly impact the local economy by creating skilled jobs in the Cardiff office. He highlighted how their software provides an end-to-end solution for managing complex data sets.
Mark Sterritt of the British Business Bank commended the proactive role of Investment Fund Wales in aiding innovative enterprises like Assured Insights. The fund’s first investment was in EverTrek, an adventure travel business, showing its broad support spectrum across diverse industries.
This investment exemplifies a strategic effort to bolster regional economic growth through targeted support for innovative businesses.
