UK, 4th September, 2018: Privacy technology and data analytics company MyLife Digital announces major new funding to support its international personal data management platform roll out.
- BGF adds £3 million of funding to its initial £2 million investment made in 2016.
- Barclays supports MyLife Digital’s growth ambitions with a £2.7 million venture debt facility.
- MyLife Digital founding investors extend further significant private investment.
- Funds will enable full roll-out of MyLife Digital’s Consentric personal data management platform globally.
UK-based privacy technology and data analytics company MyLife Digital has completed a new c.£6million funding round to support the international roll out of its innovative platform.
MyLife Digital provides an enterprise Software-as-a-Service (SaaS) solution to help organisations manage the challenges around personal data, enabling them to build greater trust and engagement through data transparency with the individuals they serve. MyLife Digital, incorporating Wood for Trees and Insight Analysis, developed the Consentric SaaS platform as a world-leading personal data capability and launched to market in late 2017. Consentric adds value by reducing data misuse, enabling new service innovation based on data sharing, putting users in control, and generating trusted access to more, higher quality and more timely data from individuals as a result.
The Consentric platform already has six million registered individuals and a thriving partner community building on its open API to unlock and deliver its unique capabilities to users. MyLife Digital current partners include the Salesforce ecosystem, Experian and the REaD Group. The Consentric platform has an essential trust and engagement capability relevant to all of the leading enterprise technology stacks in existence today. MyLife Digital’s vision is to empower individuals to control how their personal data powers positive outcomes.
Bruce Finnamore, Chairman of MyLife Digital, adds, “We have built on the initial investment by BGF and the Founders to grow from a start-up into an established company. With this further funding we now have the capital to accomplish our international ambitions and grow MyLife Digital to £120m turnover within three years. The latest investment will enable us to pursue our mission by further enhancing the capability of the Consentric platform, and to extend our partner footprint and client reach globally. Our aim is to be the world’s leading company in providing a trusted, safe and secure platform for personal data.”
James Austin from BGF and board director of MyLife Digital, says, “Our additional investment demonstrates our confidence in MyLife Digital as an exciting technology company in the personal data management space. They have already grown quickly through the capital provided with the initial funding. This new investment enables them to accelerate their growth into international markets, through multi-national clients and further international partners.”
Juliet Rogan, Head of High Growth & Entrepreneurs at Barclays, says, “Barclays is excited to support MyLife Digital’s ambitions to be the world leader in personal data management and privacy. Barclays is the only bank to have a national High Growth & Entrepreneurs team and the venture debt facility provided reflects both the potential of MyLife Digital’s innovative business model and the strength of the management team. It also demonstrates Barclays’ commitment to backing high growth, innovative companies both in the South West and across the UK.”
The Barclays loan will be backed by a guarantee from the European Investment Fund (“EIF”) and has been enabled by the InnovFin initiative with financial backing from the EU’s Horizon 2020 programme.
Client and partner enquiries:
J Cromack, Chief Technology Officer, MyLife Digital
T: 01225 636 280
MyLife Digital Ltd, Citizen House, Crescent Office Park, Clarks Way, Rush Hill, Bath, BA2 2AF
About MyLife Digital
Trusted data powering positive outcomes
MyLife Digital rebalances the control of personal data between organisations and individuals, which reinforces consumer trust through its market leading SaaS platform, Consentric.
MyLife Digital positively impacts individual and organisational performance through powerful and informed insights which are based on trusted data from:
- expert data collection, enrichment and categorisation based on sector leading, subject matter expertise
- robust data governance and management
MyLife Digital recognises its ethical responsibility as a custodian of personal and proprietary data, therefore implementing privacy by design into all systems and processes
History of MyLife Digital
- 2014: MyLife Digital founded.
- 2015: MyLife Digital acquired data analytics company Wood for Trees
- 2016: MyLife Digital acquired data analytics company PGIR (trading as Insight).
- 2016: Business Growth Fund (BGF) provided initial funding of £2million.
- 2016: Consentric platform development commenced.
- 2017: MyLife Digital launched Consentric to market as a world-leading personal data management platform.
- 2017: Dogs Trust, a large animal welfare charity, went live with the Consentric platform in 2017 as our first large-scale client.
- 2018: MyLife Digital partner programme reaches 50 partners.
- 2018: Consentric approved by Salesforce and accepted into the Salesforce ecosystem.
- 2018: Consentric accepted into the G-Cloud 10 UK public sector procurement framework.
Barclays is a transatlantic consumer and wholesale bank with global reach, offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
The Barclays loan will be backed by a guarantee from the European Investment Fund (EIF) and has been enabled by the InnovFin initiative with financial backing from the EU’s Horizon 2020 programme.
For MyLife Digital
Keith Dewar, Chief Strategy Officer
T: 01225 636 280
For Business Growth Fund
T: 0207 340 0643
T: + 44 (0)7775 555626