Catalyst Inc tenant Automated Intelligence is set to gain more work from new data protection legislation next year. The company has received a £1m cash injection from a major venture capital growth fund in addition to £500,000 from an existing private investor and £1m from Bank of Ireland Kernel Capital Growth Fund.
Automated Intelligence specialises in enterprise software and has around 100 major customers in the private sector as well as government. Its software provides detailed analysis of information at high speed.
Founded seven years ago by Chief Executive Mark Godfrey and Chief Technology Officer Simon Cole, the company says its software can cut cost, legal and reputational risk while also making organisations more productive. Mark Godfrey said:
"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.
Gavin Kennedy, head of business banking at Connect member company 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."
Article originally published by Belfast Telegraph on 12 September 2017