US Office and Rapid Growth for The Data City

Leeds, UK-based company The Data City, creator of a new industrial classification system aiming to supersede SICs, has expanded into the US after what it describes as 'a year of rapid growth driven by demand for AI-ready economic data.' The firm now has more than 30 staff.

The Data City helps clients in both public and private sectors to understand the economy in 'real time' - clients include policymakers, economists, investors and analysts. Founded in 2017, the firm started out developing a new classification system called RTIC, which replaces the SIC codes used to categorise British industry since the 1980s and beyond. The new categories, ranging from AI and quantum technologies to robotics and clean energy, are used to map the emergence of new sectors in the UK.

The company says revenue rose 46% to £1.9m in its latest financial year, while headcount increased from 17 to 31 employees. Backed by a £2m investment fifteen months ago from Oxford Economics, valuing the company at around £19m, it has now expanded its platform into France, Germany, Ireland and the US, while formally incorporating in the US and opening an office at 5 Hanover Square in New York through a joint venture with Oxford Economics. In April it launched Industry Engine v6.0, a major update to its platform that includes improved company-to-website matching, corporate group structure mapping, and new tools designed to reduce the manual work required for sector analysis.

According to co-founder and CEO Alex Craven, demand for more accurate economic data is accelerating as organisations adopt AI tools and automated analysis systems. He comments: 'Leeds, London, New York. We're building the world's first global industrial classification system, and this year proved we can do it. We've doubled the team and brought in world-class talent, and the quality and ambition of the people around us are something else. Trustworthy, real-time data about what companies actually do is the layer that makes AI work, and the opportunity in front of us is enormous.'

The firm has also made a series of senior appointments, including Mitali Mookerjee as UK Managing Director and Paul Swinney as Chief Economist.

Web site: www.thedatacity.com .


Pictured left to right: Tom Forth, Mitali Mookerjee, Paul Connell, Kelly Weston, Emma Dickinson, Alex Craven.