Citi Invests in Solidatus and Implements Data Management Platform
Citi is implementing the Solidatus platform at a global enterprise level and has invested an undisclosed amount in the London-based data management startup.
Solidatus enables large, data-rich and regulated organisations to effectively manage their data, people and processes, reducing complexity and risk through transparency, automation and collaboration. The platform uses cutting-edge graph database technology, allowing organisations' key assets to be efficiently mapped, managed and monetised. Solidatus can be applied across a growing number of client initiatives, including digital transformation, data governance, cloud migration and regulatory reporting.
The new funding will accelerate Solidatus' growth plans, allowing the company to further its international expansion across the United States and APAC, increase its penetration across non-financial sectors and deliver key product enhancements to achieve their vision of modernising enterprise data management.
Stuart Riley, Global Head of Operations and Technology for Citi's Institutional Clients Group, said: "Our partnership with Solidatus will bring state-of-the-art technology to enhance our data ecosystem. It's critical we understand our organisational data flow to enable us to deliver efficiently to our clients."
Philip Dutton, co-founder of Solidatus, comments, "Securing investment from an organisation with the stature of Citi is a tremendous statement of intent for the business, especially at such a key point in our evolution...We are pleased to have them play a key role during this pivotal growth stage and look forward to continuing to be a vital component of their digital transformation journey and beyond."