News blog

Rosslyn Data Technologies

• BY: Andrew Hore |
• POSTED: 29/04/2014 |

Cloud-based data analytics services provider Rosslyn Data Technologies got off to a steady start on the first day of dealing.

Rosslyn raised £10m at 33p a share prior to joining Aim on 29 April. The fundraising valued Rosslyn at £24.9m. The share price hit 37p at one point but finished the day at 33.88p.

Existing shareholders sold 757,576 shares, raising £250,000.

Rosslyn (www.rosslynanalytics.com) was founded in 2005 and provides data extraction, cleansing, enrichment and visualisation via the Cloud. Contracts tend to be for a minimum of 12 months. Service is a key to attracting and keeping clients. Existing clients include HM Treasury, Capita, University of Exeter, Coca-Cola and Aberdeen Asset Management. There is a US office and around one-fifth of revenues come from North America with General Electric recently won as a customer.

The cash raised will go towards building up the sales team. Rosslyn sells directly to the larger customers, while partners help it to sell its services to smaller clients and widen the geography of its sales. Further investment will also be made in the RAPid platform and the products offered.

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