Amsterdam Data Collective accelerates in Nordics with Damvad

11 January 2023 2 min. read

Amsterdam Data Collective, a data science consultancy headquartered in the Netherlands, has roped in an investment from Mentha – with the duo moving quick to close their first deal within eight days of their own signing.

With the ink barely dry on their own contract, Amsterdam Data Collective and Mentha have sealed a deal in the Nordics, welcoming Damvad Analytics to their ranks.

Based in Copenhagen (headquarters) and Stockholm, Damvad Analytics has a team of 32 professionals. They now join forces with Amsterdam Data Collective’s existing – relatively small – operation in the Nordics, which launched last year.

Amsterdam Data Collective accelerates in Nordics with Damvad

Launched in Amsterdam in 2017, Amsterdam Data Collective supports clients with services including data strategy, data engineering, analytics, and data visualisation. The firm has grown to a team of 80 staff (110+ with Damvad Analytics on board) since its inception, and in the process bagged a number of awards – including being recognised as one of the Netherland’s fastest growing companies and leading data science consultancies.

Against the backdrop of a booming market, Amsterdam Data Collective aims to accelerate its growth, said CEO Rik van der Woerdt, on the back of “organic growth and an international buy-and-build strategy.”

First stop: the Nordics, a region considered culturally close to the Netherlands. “This acquisition enables us to establish ourselves as a serious player in the Nordics much faster. We believe the added diversity and expertise will lead us to create better solutions with more impact. We’re delighted to partner with Damvad Analytics.”

Since its inception in 2015, Damvad Analytics has managed to achieve a leading position in the Danish and Swedish data science scene, among blue chip customers within life science, finance, public sector, philanthropy, and scientific research.

Commenting on the deal, Torben Bundgaard Vad, founder and partner of Damvad Analytics, said: “Our team complements Amsterdam Data Collective and we share similar values.”

It was in particular the latter aspect which turned out to be the key to the successful deal, explained Damvad Analytics partner Anders van Dhürbourgh-Jacobsen. “We had been approached by multiple potential buyers during 2021 and 2022. With all partners we discussed various scenarios for our future development – Amsterdam Data Collective turned out to be an ideal fit.”

The deal excludes Tembi, the Artificial Intelligence as a Service (AIaaS) activities of Damvad Analytics. Tembi has been carved out as an independent start-up, with backing of among others Lottrup & Co, a family office specialised in high growth companies.

In another Dutch-Danish tie-up in the consulting landscape, First Consulting and Valcon merged in 2020 to form a single group.