12 SEPTEMBER 2017:
Kernel Capital confirm that Automated Intelligence Ltd (“AI”), a Belfast-based provider of enterprise software solutions, has raised £1.5m. The investment comprises of £1m investment from The Bank of Ireland Kernel Capital Growth Fund (NI), with the remainder provided by an existing private Investor.
With over 100 national and global Blue Chip, Central and Local Government customers, AI is a leading Microsoft Gold Partner. Currently employing 65 people, this round of funding will enable AI to expand into new geographical markets, building upon the success the business has achieved over the past seven years.
Established in 2010 by Mark Godfrey (CEO) and Simon Cole (CTO), Automated Intelligence solutions provide deep analysis on information quickly and accurately, categorising the data before securely moving valuable content to productivity platforms such as Microsoft Office365. In line with GDPR requirements which come into effect next year, the company’s software automatically enforces appropriate governance across all content to reduce cost, legal and reputational risk while simultaneously improving organisational productivity.
The Bank of Ireland Kernel Capital Growth Fund (NI) was designed to help SMEs in Northern Ireland to accelerate their growth. Invest Northern Ireland has committed £15m of funding to this fund which is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.
“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. 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.”
Allen Martin, Partner, Kernel Capital
“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 is an exciting time for AI when we are seeing an unparalleled level of interest in our GDPR compliance solutions. 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. Working alongside Microsoft, we will help organisations understand, and take control of, all the information they hold regardless of where it is.”
Mark Godfrey, CEO, Automated Intelligence
“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.”
William McCulla, Invest NI’s Director of Corporate Finance
“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.”
Gavin Kennedy, Head of Business Banking, Bank of Ireland UK
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Notes to Editors
About Automated Intelligence Automated Intelligence (AI) is an innovative software and services company which helps organisations to manage the increasing amount of data they hold, as well as enabling users to be more productive.
About Kernel Capital Kernel Capital is an independent manager of the Bank of Ireland Kernel Capital Venture Funds, comprising of £165m / €210m of funds raised through six separate venture capital funds in the years 2002, 2006, 2007, 2009, 2013 and 2015. These Funds are supported by Bank of Ireland, Invest NI, Enterprise Ireland, University of Limerick Foundation, NUI Galway Foundation and New York State Common Retirement Fund. Kernel Capital is actively investing through the Bank of Ireland Kernel Capital Growth Funds targeting deal size for Kernel Capital’s element in the region £0.5m to £2m in NI and of €1m to €5m in the ROI, either as sole investor or larger deal size in syndication. These 10 year Growth Funds were raised in 2013 and 2015 and invest in Northern Ireland and the Republic of Ireland respectively. Invest NI’s investment in the Bank of Ireland Kernel Capital Growth Fund is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020. Kernel Capital is a MiFID regulated firm.