Citi invests in data management startup Solidatus
Citi is the first major investor in the enterprise data management company, Solidatus. The startup will use the funds to expand its international reach across the U.S. and Asia-Pacific, and increase its penetration across non-financial sectors, according to a report in Finextra.
The Solidatus suite of products enables organizations to map, manage and monetize its data assets, provide a digital platform transformation initiative, govern data, migrate to the cloud and receive regulatory reports.
"Our partnership with Solidatus will bring state-of-the-art technology to enhance our data ecosystem. It's critical we understand our organizational data flow to enable us to deliver efficiently to our clients," Stuart Riley, global head of operations and technology for Citi's Institutional Clients Group said in the report.
The value of the investment was not disclosed.