Digital archiving platform Arkivum secures growth equity funding through Growthdeck
Digital archiving platform Arkivum is raising a new round of growth equity through the private equity investment firm Growthdeck as it seeks to help businesses preserve their data for the future, solving the growing problem of loss of valuable data through obsolescence and corruption.
Arkivum is a cloud-based secure digital archiving and preservation platform that allows businesses in highly-regulated industries to safeguard, use, read and audit their data for decades into the future.
Arkivum’s platform integrates with cloud-based platforms such as Amazon Web Services, Google Cloud and Microsoft Azure, and allows businesses to preserve these valuable digital assets into the future, protecting them from loss, corruption and hardware failure. Arkivum also guarantees that the data will be readable and usable in the future.
Arkivum is currently partnering with Google to deliver the €4.8m ARCHIVER data archiving project for a multinational group of scientific research institutions, led by CERN, which operates the Large Hadron Collider in Geneva. The project will archive and protect extremely large-scale research data, measured in petabytes (units of one million gigabytes).
Growthdeck is leading a total funding round for Arkivum of circa £1.6m, of which £1.1m will be provided by Growthdeck. Existing investors, including VC funds, will provide another £500,000. The funds will be used to grow Arkivum’s business development and sales function and accelerate its product development.
Shaz Hussain, Investment Director at Growthdeck, comments: “This is an excellent opportunity for us to back a business that solves a critically-important and growing problem for data-led businesses – how to make sure that data is preserved for decades into the future.
“Businesses cannot rely on the hardware or software that they use in-house to store their data in the future. Systems change, standards change and that means data gets lost. Arkivum has established itself as the key provider to the pharma sector based on its solution outperforming anything else on the market.
“What’s particularly exciting is that Arkivum has barely scratched the surface of its growth possibilities. We’re looking forward to seeing it grow in the coming years.”