Intelligent data platform provider DiffusionData receives £1m investment from NEDCF

The North East Development Capital Fund (“NEDCF”), backed by the European Regional Development Fund and managed by Maven Capital Partners (“Maven”), has backed data platform provider DiffusionData with a £1m funding package. The investment will enable the business to continue its new product development and quality focus, to maintain and expand customer engagement and satisfaction with the brand and its expanding range of exciting innovations.

DiffusionData is a market-leading platform that provides real-time, data streaming and messaging solutions that reduce network bandwidth requirements, enabling customers to grow their businesses.

The company’s Diffusion Intelligent Data Platform uses raw data of any size, format or speed; enriches the data during the flight; and distributes the data in real-time reliably and at scale with secure, fine-grained, role-based access control. Diffusion is purpose-built to simplify and accelerate data-driven, real-time application development, reduce operational costs, and economically deliver hyper-personalized data at Internet scale.

Leading brands, across industries including financial services, transportation, energy, retail, healthcare, eGaming and Internet of Things companies, use the Diffusion Intelligent Data Platform to drive customer engagement, increase revenue and streamline business operations. Diffusion is available on-premise, in the cloud or in hybrid configurations to fit the specific business, regulatory and infrastructure requirements of the event-driven applications operating in today’s interconnected world.

Maven originally invested in the company back in 2020, when the business was operating as Push Technology. Maven VCTs led a £10m investment and the business has continued to grow following a further £2.55m investment in May 2022, led by Maven, and is now receiving further support via NEDCF to support their expanded operations in the North East the region.

The business will move into Helix in the Core in Newcastle City Centre, opening an engineering and testing hub creating 10 jobs in the region.

The global low-code development platform market size is estimated to be worth $39.8 billion by 2027, representing a CAGR of 31%, with the market worth $5.9 billion in 2020.

Michael Dickens, Chief Investment Officer at Maven said: “This is a great addition to the NEDCF portfolio as a business Maven VCTs had supported in 2020 and has continued to grow. Our funding highlights Maven’s confidence in the performance of the business and the growth of the industry as a whole. It is fantastic to see DiffusionData expand into the North East region, as it demonstrates the continued confidence in setting up bases here to push forward the growth and development of these technology-focused companies.”

Grethe Brown, CEO of DiffusionData, said: “This investment from NEDCF and the expansion into the Northeast region comes at a very exciting time for DiffusionData. Our key customers are expanding their use of the DiffusionData platform, new customers are coming on board quickly and we are being noticed. This increased confidence in DiffusionData will help us in establishing an expanded quality and performance team based in the North East; another important step to support our footprint growth.”