Hublsoft will use the funding to invest in the development of its software-as-a-service platform and also grow its sales and marketing departments.

The York-based company focuses on simplifying big data and on presenting that data to customers via a smart user interface. 

Nick Cowlen, chief executive at HubIsoft, said the investment would help to “bring new technology to support businesses at a time they are facing some of their greatest challenges”.

Gareth Price, investment director at Maven, said: “Hublsoft has developed an innovative proprietary data visualisation product which is addressing a large and growing corporate market.

“Maven’s investment will enable the business to scale-up and capitalise on the increased demand.”