'Best still to come' as data firm targets US growth

A Leeds-based economic intelligence company is expanding into the US.

The Data City has opened an office in New York and formally incorporated in the US as part of its international expansion strategy, following a £2 million investment from Oxford Economics in 2025.

Founded in Leeds in 2017, the company has developed its Industry Engine platform as an alternative to traditional Standard Industrial Classification (SIC) codes, which are widely used by governments, regulators and financial institutions to categorise businesses.

Using website analysis, hiring data and financial records, the platform identifies companies operating in fast-growing sectors that can be difficult to capture through conventional classification systems.

The move into the US follows a year of significant growth for the company. 

Revenue increased 46 per cent to £1.9 million in its latest financial year, while headcount grew from 17 to 31 employees.

Alongside its US expansion, The Data City has extended its presence across France, Germany and Ireland. 

Its New York office, located at 5 Hanover Square, has been established through a joint venture with Oxford Economics.

Alex Craven, co-founder and chief executive of The Data City, said: “Leeds, London, New York. 

“We're building the world’s first global industrial classification system, and this year proved we can do it. 

“We’ve doubled the team and brought in world-class talent, and the quality and ambition of the people around us are something else. 

“Trustworthy, real-time data about what companies actually do is the layer that makes AI work, and the opportunity in front of us is enormous."

The Data City’s technology is already being used by Government departments, financial institutions, regional authorities and universities to map innovation clusters and better understand emerging sectors. 

Clients include Lloyds, Savills, the Department for Science, Innovation and Technology, the Department for Business and Trade and the Cabinet Office.

Recent senior hires, including UK managing director Mitali Mookerjee and chief economist Paul Swinney, are expected to support the next phase of growth as the business scales internationally and continues to develop its economic data platform.

Mitali added: “I know how rare it is to find a product that genuinely solves a problem the market has accepted as unsolvable. 

“The old industrial classification system was built for a world that no longer exists. 

“We are building the new one. 

“This has been the most significant year in The Data City’s history. 

“We grew recurring revenue by 36 per cent, secured investment from Oxford Economics, and ended the year with banks, insurers, universities, defence organisations and Government departments – including DSIT, DBT and the Cabinet Office actively using our platform. 

“The path to £4 million in UK sales by 2028 is clear, and we are ahead of where we need to be to get there. 

“The best is genuinely still to come.”

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