The Data City is expanding into the United States after a year of rapid growth driven by demand for AI-ready economic data.
The West Yorkshire-based economic intelligence company is replacing traditional industrial classification systems with its ‘Industry Engine’ product.
It said revenue rose 46% to £1.9 million in its latest financial year, while headcount increased from 17 to 31 employees.
Founded in Leeds in 2017, The Data City analyses websites, hiring data and financial records to classify businesses operating in emerging sectors ranging from artificial intelligence and quantum technologies to robotics and clean energy.
Its technology is designed as an alternative to Standard Industrial Classification (SIC) codes, the decades-old system still widely used by governments, regulators and financial institutions to categorise companies.
The company has expanded its platform into France, Germany, Ireland, and the US, while formally incorporating in the US and opening an office at 5 Hanover Square in New York through a joint venture with Oxford Economics.
The international expansion follows a £2m investment by Oxford Economics in February 2025, which valued the company at £19m post-money and was intended to support the rollout of its data platform internationally.
Governments, banks and investors are increasingly seeking alternative datasets as traditional economic indicators struggle to capture fast-growing sectors such as AI, quantum computing and advanced robotics.
UK government departments have already used the Data City’s “Real-Time Industry Classifications” system to map innovation clusters, quantify the country’s robotics sector and identify companies operating in quantum technologies.
Alex Craven, co-founder and chief executive of The Data City, said demand for more accurate economic data was accelerating as organisations adopted AI tools and automated analysis systems.
“Leeds, London, New York. We’re building the world’s first global industrial classification system, and this year proved we can do it,” said Craven.
“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 company’s clients include Lloyds, DSIT, DBT, Savills, the Cabinet Office, regional authorities and universities.
Alongside its international expansion, The Data City has bolstered its leadership team with a series of senior appointments led by Mitali Mookerjee as UK managing director.
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Mookerjee, who has spent more than two decades leading data and SaaS businesses, joins the company as it scales commercially across Britain and overseas.
She is joined by Paul Swinney, the former Centre for Cities director of policy and research, who has been appointed chief economist as the company deepens its work with governments, investors and financial institutions.
Mookerjee said: “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%, 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 £4m 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.”
The business also launched Industry Engine v6.0 in April, a major update to its platform that includes improved company-to-website matching, corporate group structure mapping, and new tools designed to reduce the manual work required for sector analysis.
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