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UK’s Leading Retail Intelligence Provider secures £250,000 from The Capital Fund
The Local Data Company will extend coverage to 100 City Centres across the UK


The Local Data Company, which operates the UK’s most accurate database of in-depth information on UK city centre retail businesses and other urban points of interest, has raised £250,000 from The Capital Fund, a £50 million venture capital fund that invests in fast-growth companies in Greater London. The Company’s management team will use the new funding, in conjunction with over £100,000 of further funding from existing shareholders, to extend its geographical coverage to include 350,000 businesses in over 100 towns and cities across the UK.

Founded in 2003, The Local Data Company currently maintains a database of detailed information on over 80,000 retail units in 30 UK city centres, ranging from shops, bars and restaurants to hotels and clubs, and has established a unique retail image library of high quality, digital photographs of each site. The data, which includes details of the occupier, the address, business categorisation, features and attributes, and a description, is collected by a network of dedicated field researchers employed by The Local Data Company, and updated every six months to ensure that the accuracy and quality are maintained. Conventional data suppliers typically update their records every 18 months.

The rich data and images can be used by a wide range of organisations from retail researchers, estate agents, directory services and business information companies to internet search engines, mapping and in-car navigation companies as well as city guides and companies supplying mobile operators with web searching capabilities. The Local Data Company’s prestigious client list includes 192.com, Lastminute.com and Infoserve, who use the data in client websites, such as ThisisLondon, the Daily Telegraph and the Daily Mail.

Barnaby Oswald, Co-Founder and Managing Director of The Local Data Company, said: “Traditionally, a name, address and telephone number for a retail site were all that the market required. However, the advent of the internet and mobile applications means that sparse and infrequently updated data is no longer sufficient to meet the demands of the market. We aim to offer comprehensive and accurate data to a range of customers, including mobile and internet customers looking for rich content. For example, one of our most recent contracts is to supply data for use in a new mobile local search service launched by a major telecommunications company. We are also unique in our ability to supply a high quality image of each site.”

“As well as supplying data to clients, we offer a bespoke retail research service for customers who commission specific reports that provide detailed analysis of a city, street or retail sector, and a bespoke image service that includes industrial and commercial as well as retail sites. As we have built up a data archive over a number of years, we can track trends and changes in many areas, including ‘churn’ or turnover rates showing the number of businesses that have opened and closed.”

Other customers, such as Virgin.net, use The Local Data Company’s portal service, which provides a website containing data that they can customise. Virgin.net is using the service to provide pub and restaurant guides.

Mr Oswald commented on the fundraising process: “This was the first time that we had sought institutional funding and we know how difficult it can be to raise this ‘equity gap’ level of capital. However, we found The Capital Fund efficient and straightforward to deal with. We are pleased that they have chosen to back the growth of our business and that they have also nominated a non-executive director, Mohammed Raja, who brings valuable and relevant experience gained in companies such as Thomson Directories.”

The Capital Fund’s Investment Manager, Stuart Nicol, said: “The Local Data Company already has a significant, high quality, detailed and up-to-date database that supplies a variety of well-known clients. This is hard graft and most da


Publisher Contact Information:

The Capital Fund
+44 (0)1865 811199
m.henry@oxin.co.uk

Company profile of The Capital Fund
Past press releases of The Capital Fund.

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