DataArt, a technology developer for a range of business operations, has received an investment from Da Vinci Capital.
As part of the deal, Da Vinci Capital has picked up a substantial, non-controlling stake in the company. Operations will remain under the control of DataArt’s existing management team.
This capital has been raised to support the expansion of DataArt across its three key markets the US, the UK and continental Europe.
New York-headquartered DataArt designs and builds a range of customised enterprise and mobile software solutions, including blockchain and IoT centres. Its technology solutions are implemented across the financial services, healthcare and life sciences, media and entertainment, and travel and hospitality sectors.
Financial services can utilise the technology to bolster their data management, trading solutions, business process management, enterprise system transformation and banking digitalisation. Within all of this, the company provides financial institutions with tools to support this auditing, regulatory integrity and compliance.
The company’s revenue for 2017 reached $124m and is expected to grow annually by around 20 per cent.
DataArt president Eugene Goland said, “We are excited to engage a strong partner for acquisitions and the capital markets. Access to capital is a vital ingredient for the development of a global technology consulting organization, and Da Vinci Capital’s unique expertise in this segment is a tremendous asset for DataArt.”
Copyright © 2018 RegTech Analyst
