The deal, backed by US private equity firm Grassy Creek Ventures, is allegedly a move to allow the start-up to grow presence in the US.
“With so much technology flowing out of North America, we’re proud to be a UK tech exporter, attracting US investment to bring British technology back across the Atlantic” says Lawn, co-founder and CEO of Polecat.
“Grassy Creek Ventures will enable us to innovate more quickly and to direct more of the technology sector’s sharpest minds to the task of finding hidden meaning in the world of big data”, enthused Lawn.
He added: “the UK has amazing heritage and breadth of skills in high-end data science. Working with initiatives such as the Alan Turing Institute we are focused on making the country a global leader in this field and ensuring we capitalise on the opportunities this presents it the UK and US”.
Polecat was founded in 2007, and lists high-profile clients including KPMG, Shell, and the NHS.