Penningtons Manches corporate team has advised Hivemind on its recent funding round led by Fidelity International and Barclays.
Hivemind, which was spun-out from global investment management company Winton Group in June 2018, is a data science company that develops software which helps create valuable and structured data sets from complicated, unstructured sources. This funding round will be used to expand Hivemind’s sales, engineering and data science teams and to drive the continued development of the company’s proprietary technology platform.
Corporate partner David Tighe led the team, supported by corporate associate Dominique Sabatini. David commented: “Hivemind is a very exciting company and we were absolutely delighted to have the opportunity to support the company and its management team on the funding from two such prestigious investors.”
Dan Mitchell, CEO of Hivemind, said: “It was a pleasure to work with David and his team in completing this important step for the business. It’s fantastic to receive support from our new investors and we look forward to working with them on the next stages of our growth.”
This latest deal builds on a series of technology sector transactions that Penningtons Manches' corporate team has completed in the last 12 months. 2018 saw a 50% increase in the volume of transactions the team advised on compared to 2017, with nearly half of those transactions within the technology sector.