Clarida raises €5m to reach €100m valuation

Clarida Technologies, a UK-based provider of big data-discovery software products and services, has landed a €5m equity investment.

The investment, which came from an unknown private investor, valued the incorporated technology company at €100m. Clarida offers developed software products and services to organisations operating in the financial services, business and industry, government, and healthcare sectors. Through its solutions the company is aiming to achieve ‘organisation-wide intelligence’.

Robin Poelmans, CEO and co-founder of Clarida Technologies states: “We have never actively solicited for external investment into Clarida Technologies mainly because we were wary about getting pushed towards a direction we do not necessarily want to go to.

“This investment is a deal we like; it has a simple structure where the control remains in our hands, no sneaky clawback clauses, we have the freedom to buy-out the investor and it is an investor that understand the added value we can bring. Over the past years we have received multiple investment offers, some higher than this one, which we simply refused for not being comfortable with the terms and conditions.”

The new funding will be used to expand its team, focus on introducing new products and services internationally and continue the development of several products the business is working on.

Unlike most data-analysis software packages available on the market, Clarida differentiates itself by adopting a ‘radically different approach’ to data-analysis. It places the human domain expert at the core of its product instead of trying to fully automate data analysis.

In the financial services space, Clarida claims its solutions can assist an organisation with risk management and compliance, fraud detection and prevention, customer profiling, default recuperation and prevention, improving workforce intelligence, and increasing revenue and offsetting risk through advanced insurance quotation.

It claims its ‘data discovery approach’ helps financial institutions continually detect suspicious activity and rogue traders as well as expose non-compliance issues.   The solution can also be applied to detect fraudulent behaviour through complex pattern discovery and prevent fraud using real time monitoring of all incoming data. Its software also enables insurance companies to offer individualised insurance premium quotes based on advanced profile assessments, therefore improving the revenue streams and offsetting risk.

Copyright © 2018 RegTech Analyst

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