Bank of Ireland UK Kernel Capital Growth Funds lead £1.6M investment in automated intelligence

1 August 2019

From Left: Allen Martin, Partner, Kernel Capital; Simon Cole, CEO, Automated Intelligence; Fergus McIlduff, CFO, Automated Intellligence; William McCulla, Director of Corporate Finance & Property Solutions Invest NI; Niall Devlin, Head of Regional Business Banking NI, Bank of Ireland.

Kernel Capital has led a £1.6m investment in Belfast-based Automated Intelligence, in syndication with private investors. The investment comprises of £750K investment from The Bank of Ireland Kernel Capital Growth Fund (NI).

Automated Intelligence has developed a data management platform AI.DATALIFT, giving customers insight and control over their ever-increasing volumes of data. This is now a vital component of many significant UK organisations’ information governance frameworks with clients including DEFRA, Crossrail and NHS Trusts.

A Microsoft Gold Partner, Automated Intelligence is working with and delivering Microsoft technology solutions to organisations across various industries such as Banking, Government, Professional Services, Utilities and Health.

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.

“Kernel Capital is pleased to continue its support of Automated Intelligence by leading this £1.6M investment round. 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.” – Allen Martin, Partner, Kernel Capital

“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. 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. From a company perspective that’s going to require growth, in terms of technical capability as we embrace more technologies and expand our use of machine learning and artificial intelligence, and we will use this investment to facilitate this key growth and to increase our market impact.” – Simon Cole, CEO, Automated Intelligence

“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.” – Niall Devlin, Head of Regional Business Banking NI, Bank of Ireland

For further information please contact:
Dawn Walsh, Kernel Capital.
Tel: +353 21 4928974