Automated Intelligence, which supplies a data management platform to a number of industries, has secured €1.75m in funding.
This morning (1 August), Belfast-based tech company Automated Intelligence announced that it has secured €1.75m in financing.
The funding round was led by the Bank of Ireland Kernel Capital Growth Fund (NI), which invested €823,000. The investment was made in syndication with private investors.
Since it was founded in 2010, Automated Intelligence has developed a data management platform called AI.Datalift, which gives customers insight and control over their increasing volumes of data.
The company’s platform is now a component of many UK organisations’ information governance frameworks, with clients including the UK Department for Environment, Food and Rural Affairs, Crossrail, and NHS trusts.
Automated Intelligence is currently a Microsoft gold partner, which means that the company is delivering Microsoft technology to organisations across a number of industries including banking, government, professional services, utilities and health.
In 2017, the company raised €1.6m ahead of the introduction of GDPR.
Automated Intelligence CEO Simon Cole said that the new funding would be used to facilitate key growth and to increase the company’s market impact.
“We have high expectations over the next 12 months and we believe we are poised to take advantage of the hard work we have been doing over the past number of years,” he said.
“The beauty of our product set is that it is not vertical-specific. We can help all customers in all sectors in all industries with their data management challenges.”
Kernel Capital partner Allen Martin said that he is pleased to continue supporting the development of Automated Intelligence.
“Following on from our initial investment in 2017, the company has successfully secured a number of high-value contracts with new blue chip clients and expanded its strategic partner base. This investment will allow the company to build upon that success,” Martin said.
Niall Devlin, head of regional business banking in Bank of Ireland NI, added: “Data has become invaluable to business, but with the volume produced the challenge is the ability to capture, understand and utilise meaningful insights from that data to support and drive commercial decisions and strategic direction.
“This further investment from the fund is supporting AI’s ambition and opportunity to scale on the back of their leading-edge technical capability. The competitive advantage of their offering will enable them and their customers to thrive and grow in the more data-driven domestic and global markets of the future.”