Glasgow-based data analytics firm Bellrock Technology has welcomed a fresh funding boost and appointed a new chair as it gears up for a landmark year.
Steve Langmead, an experienced technologist and innovator, joins the board of the Strathclyde University spin-out, bringing with him significant industry expertise.
Co-founded by Chief Executive Adam Brown and Chief Technology Officer, Professor Stephen McArthur, Bellrock Technology spun-out from the university’s Institute for Energy and Environment in 2012.
The company’s predictive analytics platform, Lumen, enables organisations to simplify and speed up the deployment of data sciences models.
Commenting on his appointment, Langmead said: “Bellrock Technology is a significant part of the future of data science.
“Its Lumen software product stands on the threshold of delivering revolutionary changes across all sectors – healthcare, oil and gas, public sector, manufacturing and finance – when it comes to data science and the speed, scale and coast of its deployment.”
In addition to Langmead joining the Bellrock board, the firm has secured £1 million in funding from its longterm investors.
This investment will allow the company to double its workforce to 16 people and accelerate the next stage release of the Lumen software platform.
Langmead insisted the sum was a vote of confidence in Bellrock Technology and the direction it is going. Already, the company has secured partnerships with organisations include energy giant EDF, which subscribed to Lumen to help improve the monitoring of its UK nuclear reactors and supporting equipment.
He said: “I believe Bellrock Technology has the opportunity to become a pivotal player in a huge range of sectors, not just energy but financial services, smart cities and smart manufacturing.”
- DIGIT Movers and Shakers: May 2020
- Big Business Must Lead the Way as part of a Post-Covid Green Recovery
- Commsworld Chairman Urges Investment in Digital Infrastructure
Kerry Sharp, Director of the Scottish Investment Bank, one of Bellrock’s long-term investors, commented: “With our continued support, we believe Bellrock Technology and Lumen will provide huge value not just to businesses in Scotland but across the UK and around the world.”
Steven Morris, the owner of Stirling-based ESM Investments and Bellrock board member, added: “Data analytics is becoming increasingly important to fast-growing businesses across all sectors. ESM Investments has always seen the huge value of the Lumen product, and looks forward to seeing this value come to fruition.”