Automated Intelligence, a Belfast based IT business, is set for further expansion into international markets after a successful funding drive raised £1.5 million.
The firm, which provides enterprise software solutions, has raised £1m from the Bank of Ireland Kernel Capital Growth Fund (NI), with the remainder provided by an existing private investor.
With more than 100 national and global blue chip, central and local government customers, AI is a leading Microsoft Gold Partner currently employing 65 people.
Established in 2010 by CEO Mark Godfrey and CTO Simon Cole, the firm’s programmes provide deep analysis on information quickly and accurately, categorising the data before securely moving valuable content to productivity platforms such as Microsoft Office365.
The Kernel Capital Growth Fund was designed to help SMEs accelerate their growth and Invest NI has committed £15m of funding which is part financed by the European Regional Development Fund.
“AI has an impressive and ambitious management team that has successfully engineered and deployed a suite of products that help customers to manage the exponential growth in digital data,” said Allen Martin, partner at Kernel Capital.
“Against a backdrop of new regulatory data requirements we look forward to supporting the team at AI as they seek to further grow their team in Belfast and scale internationally.”
Mark Godfrey said the firm was enjoying an unparalleled level of interest in its compliance solutions.
“Next year a new European-wide data protection regulation will come into force (GDPR) which is the biggest data protection change in almost 20 years.
“This significant investment will allow us to market these world-leading products and services to organisations of all sizes who need to achieve GDPR compliance.”
William McCulla, Invest NI’s director of corporate finance said: “Our suite of Access to Finance funds provides a range of support to help SMEs with high growth potential to scale quickly.
“The Bank of Ireland Kernel Capital Growth Fund is an important element of this suite and it is encouraging to see companies like Automated Intelligence use the fund to drive exports in global markets.”
Gavin Kennedy, head of business banking at Bank of Ireland UK said: “Through our partnership with Kernel Capital, we are delighted to support AI as they embark on the next stage of their growth plans.
“The ability to securely and accurately manage digital data is of paramount importance to companies across the globe and once again, a Northern Ireland based company is delivering innovative solutions.”