Belfast-based INQDATA has received £750,000 funding from the Investment Fund for Northern Ireland’s equity arm.
The investment round led by Clarendon Fund Managers generated £2.5m in total with new investment from Iona Star Capital and Techstart Ventures.
INQDATA CEO, Theodore Voegt, said: “This investment marks a tipping point for us. While our sales teams will be based in London, which is where our clients mostly are, we will certainly have a strong foothold in Northern Ireland.
“To maintain a competitive edge, it is a strategic imperative for firms to adopt a modern technology stack that fosters business growth."
Clarendon Fund Managers Investment Director, Brian Cummings, added: “Supporting innovative companies like this is exactly what the Investment Fund for Northern Ireland was created for.”