Hivemind receives new investment to continue the development of its data science technology platform and expand team

Hivemind, a U.K. based data science and technology startup specializing in the application of human and machine intelligence to complex unstructured data problems, has raised new investment round 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. The round was led by Fidelity International and Barclays. The total amount of funding was not disclosed.

Founded in 2017 by Alex Taroghion, Alexander Dawes, Christian Gilson, Daniel Mitchell, Geoffrey Cross, Henrik Grunditz, Mark Roulston, and Riaz Karim, the London, England-based Hivemind’s software combines computational methods with distributed human intelligence to help companies distill messy or unstructured raw material into pertinent, valuable, and accurate data assets. 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. Its clients include leading hedge funds, global asset managers and data vendors and we have been selected for the IA Velocity program, the first accelerator run by the Investment Association

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.

Fidelity International offers world class investment solutions and retirement expertise. As a privately owned, independent company, investment is our only business. Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. Winton is a global investment management and data science company. Founded in 1997 by CEO David Harding, Winton’s business utilises computing technology to apply mathematical and statistical methods to the field of investing.