Sheffield data firm WANdisco has announced the raise of $16.5m (£12.8m) fundraise.

The funds, raised through a share issue of almost 3 million new shares, included investors Davis Partnership, Global Frontier Partners, Ross Creek Capital Management, Acacia Partners, Acacia Partners II, Acacia Institutional Partners, Acacia Conservation Fund and Herald Investment Management.

The AIM-listed firm uses machine learning and AI to help enterprise firms managed their data.

It said in a trading updated that it had continued to win contracts across a variety of end-markets and partners, including a recently announced contract with Micro-D valued at $3 million over three years.

It also reported a growing pipeline of late-stage deals with strategic partners during the second half of the year.

Chief executive and chairman David Richards said the firm had struck new partnerships with Databricks and Neudesic and had struck a ‘landmark agreement’ to embed its Fusion product into Microsoft Azure.

"These strategic partnerships and the successful launch of LiveMigrator and LiveAnalytics, underpins a growing sales pipeline, all of which, gives me confidence in our prospects for this year and over the long-term,” he said.