Losses at Sheffield-based WANdisco more than doubled in 2014 as the company funded ambitious expansion plans.
The company revealed pre-tax losses of $38.3m for the year ended December 31 2014, up 51 per cent from pre-tax losses of $19.7m in 2013.
However, revenues increased to $11.2m in 2014, up from $8m the previous year.
David Richards, chief executive, said 2014 was a “pivotal year” for the Big Data marketplace, while the company’s technology “has quickly become part of the standard Big Data architecture.”
He added: “We are seeing customers increasingly seeking a connected set of vendors to co-ordinate their Big Data infrastructure. Alongside such vendors, we recently deepened our partner relationships by joining the new Hadoop Open Data Platform. WANdisco is enabling customers across industries to realise insights, reliability and savings that they otherwise could not achieve. We believe that many of our new Big Data customers will go on to expand significantly their WANdisco solutions as they take more and more data into their mission-critical applications.
“As 2014 progressed, we achieved a marked increase in momentum in our Big Data business, as successful production trials led into some significant contract wins.”