Ufi Ventures invest in Data Literacy Academy: providing data literacy skills for businesses and employees and helping close the data skills gap
- Data Literacy Academy has secured a £440k investment, putting it on course to grow its online platform and expand the offering into more markets.
- Haatch Ventures leads the funding round, with backing from Ufi Ventures and leaders in the data industry, including Jason Foster – author of ‘Data Means Business’ and CEO and founder of Cynozure - who is also joining as a NED.
- Data Literacy Academy aims to help 10,000 businesses and their employees achieve data literacy by 2030, enabling improved decision making and increased productivity.
The data literacy challenge
The UK Business Data Survey 2022 found that 85% of all UK businesses handle digital data, rising to almost all for those with 10 or more employees. Despite this, there is a huge shortage of data skills, with around a quarter of businesses saying their sectors have insufficient data skills, and almost half (46%) of businesses admitting to have struggled to recruit for roles that require data skills.
Upskilling and empowering employees to be more data literate has a multitude of benefits, including improved decision making, more innovation and productivity, and better employee and customer experience.
Introducing the Data Literacy Academy
Online learning platform the Data Literacy Academy is looking to address this challenge and support 10,000 businesses and their employees achieve data literacy by 2030.
By providing clients and their employees with access to live and on-demand data literacy training the platform supports employees at all levels to engage with and benefit from the data their organisation holds; breaking down traditional barriers to understanding analysis, reporting and data-driven decision-making and ultimately bridging the gap between data experts and business teams.
Classes at the Data Literacy Academy are taught live by leading members of the data community, including data leaders from organisations including Gymshark, Huel, and Sky. Businesses including Monzo, Purplebricks, and Wesleyan, are among the 30+ companies taking part in the private beta programme, which included over 100 employees from the organisations involved.
Supporting growth with EdTech investment
This investment round of £440k was led by Haatch Ventures with backing from Ufi Ventures and private investors including Jason Foster, Founder and CEO of data and analytics strategy consultancy Cynozure who has also been named a non-executive director at Data Literacy Academy. Jason brings a wealth of experience in the data space, having previously led the data team at Marks and Spencer. He is also the author of ‘Data Means Business’, a guide for business leaders to generate value from their data.
Greg Freeman, CEO and Founder of Data Literacy Academy, commented:
“Pre-seed funding is a hugely exciting stage for any start-up - it’s the launchpad from which the future can develop. Having the backing of industry heavyweights gives me even more conviction in our mission to become the go to educator for data literacy amongst business users. Data-led, data-literate organisations are the future of business, and we are proud to be helping them and their employees get there.”
Helen Gironi, Director of Ventures at Ufi Ventures, commented:
“There is a huge gap in data skills, which is holding both businesses and individuals back. We are really impressed with the targeted and successful approach that Data Literacy Academy is taking to help businesses develop a data-driven workforce”.
The investment will be used to accelerate go to market across the UK, Europe, North America, Middle East, and Africa, as well as grow the international network of educators.
Ufi Ventures look forward to supporting the continued growth of the business.
