Chippenham-based data archiving firm Arkivum is to expand into new sectors following a £3m investment.
The firm said over the next six months it planned to announce new partnerships that will enable it to harness commercial opportunities in sectors facing regulatory and operational challenges around long-term data retention such as healthcare, life sciences and financial services. 
Arkivum provides services to more than 100 clients that optimise the long-term value of their digital assets and records.
Arkivum’s existing principal investors – IP Group, Oxford Capital and Parkwalk Advisors – participated in the latest funding round.
Arkivum CEO Guy Yaniv said: “Everyone at Arkivum is delighted to have secured the latest funding round. This represents a validation of our offering, the company’s business model and plans for strategic expansion.”
Arkivum, which already works in sectors spanning financial services, healthcare and life sciences, digital heritage, and higher education, was formed in 2011 and has grown steadily, boasting 300% growth each of the past two years.
Head of Technology of IP Group Dr Mark Reilly said: “We view Arkivum as a disruptive and innovative solution provider. Arkivum’s approach to critical data safeguarding is distinct from the general offering of archiving as a mere extension of storage.”
