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Money SPINR: SaaS startup’s plan to grab slice of $25bn data integration pie
Organisations are capturing and analysing more data than ever before in a bid to digitise (and better understand) day-to-day operations, make researched decisions and learn more about their customers.
And for startups and scaleups looking to capitalise, the market opportunity is huge. Gartner predicts that the global data integration money pie is set to skyrocket to $25bn by 2027.
Enter Manchester-based SPINR. Commercially launched in January, the SaaS (Software-as-a-Service) startup helps companies better manage data stored on their customers, staff and citizens that’s spread across multiple and disparate systems.
Working with clients at Shaping Cloud, the cloud migration specialist that he founded in 2010, SPINR founder and CEO Carlos Oliveira noticed that the problem particularly affects small and medium-sized firms who lack cash to throw at the problem – unlike enterprises.
“We looked for a way to help our customers but found that there weren’t any affordable data integration solutions for them that didn’t require an army of developers to implement,” he says. “So we decided to fix the problem ourselves.”
Simple to operate
In allowing organisations with lower-skilled workers to derive value from data, which may have been previously locked way in complex legacy systems, SPINR has designed its platform to be as easy to use as possible.
“We have started from a clean sheet and been able to build upon and learn from some of the very latest research in this space,” says Oliveira. “On our platform it doesn’t matter how or where customers are storing, processing, transforming and modelling their data today, or how they want to do it tomorrow.
“SPINR becomes their virtual database, pulling together all of those strands and fragments of data into a unified view, that can then drive your digital transformation initiatives.”
SPINR is the brains of the company’s CTO Tom Carter, a “true polymath” according to Oliveira, who lists data wrangling and virtualization, ontology mapping and API management among his colleague’s areas of expertise.
The company also brought experienced SaaS growth marketer and Chief Product Officer Martino Corbelli onboard. “He’s really helped me to understand the changes we needed to make in order to start selling a product which delivers solutions rather than services,” says Oliveira. “Succeeding is just a dream without the support teams, processes and infrastructure.”
SPINR benefitted from being launched under the Shaping Cloud Group umbrella, meaning its initial startup and R&D was done in-house.
The company received seed investment totalling £1.25m from the Greater Manchester Core Investment Fund and Mercia Technologies, on behalf of the Northern Powerhouse Investment Fund, around the time of its market launch.
Looking ahead, it’s targeting a £1m ARR (annual run rate) to scale on the back of increased investment. After launching its first marketing campaign, SPINR has received a “strong level of interest” from vertical sectors including financial services, tech, healthcare and the public sector, according to its founder.
“We are now generating revenue and conducting online demonstrations of SPINR with companies across the UK, North America and Asia, which is a huge validation of our value proposition,” Oliveira says. “Now the focus is on scaling up our business with new customer wins and hiring the talent we will need for our next stage of growth.”
Being based in the North West of England is important for Oliveira, who feels a synergy with Manchester in that both company and city “share a desire to scale”.
“More important than all of this though is the way that the businesses come together and support each other in the region,” he adds. “It was one of the first things that struck me when I first moved here in 2010 and I still think it’s a real differentiator.”
With a collaborative mindset, innovative thinking and a strong team behind it, SPINR manages to stand out in a city with a thriving tech ecosystem and is on the way to achieving its grand ambitions.