Northern Ireland tech companies receive £3.2m from Scottish venture capital firm
Two Northern Ireland software companies have benefited from a total £3.2m cash boost investment from an Edinburgh-based venture capital firm.
Plotbox, a cemetery software mapping company in Ballymena, and software tool provider Datactics in Belfast, received the funding from Par Equity.
They are part of a growing collective of tech firms benefiting from consistent support for start-ups from both the public and private sector.
Graeme McKinstry, investment manager at Par Equity, said: "Plotbox and Datactics are two of the best in class. Both firms have track records of strong sales growth and success in their core markets, and what's key for us is that they've demonstrated both the scalability of their businesses and their customers' appetite."
Par Equity partnered with Ironbridge Capital Partners on the £2m investment into Ballymena-based Plotbox.
The investment will go towards improving product functionality and customer support as well as expanding the company's sales and marketing efforts.
Plotbox chief executive Sean McAllister said: "The investment will enable us to continue to improve a vital service for grieving families, and simplify the work of those who carry it out."
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Datactics received £1.2m as part of a partnership between Par Equity and Kernel Capital.
Stuart Harvey, chief executive of Datactics, said: "Over the past three years we've tripled our revenues and had to open offices in both New York and Milan to meet demand. Yet we've stayed headquartered in Belfast because of its excellent business environment and the available talent, and part of this funding will go towards hiring additional key personnel for the head office.
"The rest will go towards creating additional proof of concepts and extending our software platform and sales."