Seven-year-old Southampton spinout Arkivum develops data archive software for sectors such as life sciences and financial services.
Arkivum, a UK-based data management software spinout from University of Southampton, today raised an undisclosed amount of funding from Parkwalk Advisors, the spinout-focused fund manager owned by commercialisation firm IP Group.
Further details on the round were not disclosed. Parkwalk Advisors took part through its EIS Opportunities Fund, which benefits from venture capital tax breaks offered by the UK government.
Arkivum has developed data archive technology for clients looking to store information according to strict legal regulations.
The spinout’s products include Trust, which helps life science companies follow regulations in handling patient or clinical trial data, and Shield, which enables financial services firms to efficiently keep records.
Arkivum spun out from Southampton in 2011 under the leadership of Matthew Addis, now chief technology officer, who previously had been a manager at the university’s IT Innovation Centre.
The spinout had raised $12.8m before Parkwalk’s latest investment, according to deals database Pitchbook, including $3.8m secured in 2016 from Parkwalk, IP Group and venture capital firm Oxford Capital Partners.
Oxford Capital led Arkivum’s 2014 round, which raised $3.2m with contributions from both Parkwalk and IP Group.