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Barr Ellison Solicitors – commercial property
1 April, 2019 - 09:14 By Kate Sweeney

Parkwalk invests £2m in GeoSpock

Richard Baker of GeoSpock

Big data pioneer GeoSpock has taken its funding haul past £21.25 million thanks to a £2m cash injection from Parkwalk Advisors.

Having recently closed a £10m funding round, the additional £2m from Parkwalk will provide continued support for GeoSpock’s international expansion and build on the company’s rapidly developing client accounts. 

Following this financial success, GeoSpock has undertaken a number of strategic decisions. 

This includes new appointments to its senior leadership team and advisory board, as well as the development of projects in targeted avenues to aid continued growth of the company.

GeoSpock has appointed Pontus Noren to a non-executive role on its board. Having worked in the IT industry for over 20 years, Noren brings a wealth of experience within the technology ecosystem. 

He is currently vice-chairman of the board at Cloudreach, an international cloud computing consultancy where he was previously CEO. Under his leadership, the company was recognised as a leader in the Gartner Magic Quadrant and also ranked top 25 in The Sunday Times Hiscox Tech 100 for two years running. 

Noren intends to use his passion for innovative technology to help GeoSpock’s board and executive teams drive the company’s next phase of growth.

CEO Richard Baker said: “We are delighted to announce the addition of Noren to our board at this exciting period of growth for GeoSpock. I am hugely impressed with the wealth of knowledge and experience Noren brings to our business, and his expertise will be instrumental in helping to guide the continued expansion and success of GeoSpock. 

“We also thank Parkwalk Advisors for their continued support as we strive to achieve our technological vision across industries spanning mobility, telco, and IoT, as well as smart city and maritime initiatives.”

Noren said: “GeoSpock is a hugely exciting company and I’m inspired by its achievements so far, as well as its potential for the future. With its technology at the cutting edge of spatial big data, GeoSpock helps feed my passion for innovation.”

GeoSpock aims to become the de facto processing engine at the heart of next-generation infrastructure, including smart cities and the Internet of Everything (IoE), as well as powering future mobility applications, including the management of autonomous vehicle fleets. 

The company’s revolutionary data engine analyses extreme amounts of contextual data in sub-second response time.

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