Hivemind announces funding round led by Fidelity International and Barclays

Keiligh Baker's picture

London-based data science company Hivemind has closed a funding round led by Fidelity International and Barclays.

Hivemind, which was spun out from global investment management company Winton Group in June last year, develops software that helps create valuable and structured data sets from complicated, unstructured sources such as news articles, company reports, blogs and images.

This funding round will be used to expand Hivemind’s sales, engineering and data science teams, driving the continued development of the company’s proprietary technology platform and making its data science expertise available to a wider market.

Daniel Mitchell, CEO of Hivemind, said. “We are delighted to have received investment from two such prestigious companies and look forward to working with them on the next stages of our growth.”

Fidelity International’s Global Head of Asset Management, Bart Grenier, commented. “We are delighted to be able to support the future growth of Hivemind. Their platform has significant potential to help us improve client outcomes by enhancing our investment research capabilities.”

John Stecher, Chief Innovation Officer for Barclays commented: “The team at Hivemind has demonstrated impressive capabilities from when they were formed at Winton. We look forward to working with them on improving the effectiveness of our complex data sets.”

John Stecher and Hugh Prendergast, Global Head of Product at Fidelity International, will join Hivemind’s board. Existing board members include Winton Founder, CEO and Co-CIO David Harding, Winton Managing Director Geoff Cross, and Daniel Mitchell.