BELFAST technology firm Taggled has earned its 'wings' by helping business angel network 'Halo' reach a £35 million investment milestone.
The Titanic-based company which claims to be the world's first "shoppable video distribution network" brought in a £250,000 investment from business angels which will create 10 new jobs.
In total, the Halo Business Angel Network (HBAN), which includes Halo NI, has helped complete 271 deals across Ireland - raising £35m in angel investment, with an additional £65m leveraged.
Angel investment has led to significant job growth across Northern Ireland and the Republic - during 2014 alone, 48 companies which received angel investment via HBAN announced collective job creation of 700 positions by 2017.
Ian Scott, founder of Taggled - which has established lucrative commercial partnerships with big global hitters Sanoma Media and Pop Sugar - said the additional finance would help the company further expand and "remain at the forefront of interactive video advertising".
"Team Taggled is delighted to be in the position of continued expansion," he said.
"To have received £250,000 in investment this year and £700,000 in total, allows us to significantly increase team numbers and scale Taggled's shoppable video advertising platform.
"We are now in the wonderful position of massive business growth and that is largely down to the angel investment we have received. The support, advice and networking opportunities the individual business angels have provided has proved invaluable."
During the past six months the company has doubled its staff numbers and added further "big brand names" to its customer list, including The Body SHop, Weight Watchers, Ted Baker and P&G.
Angel investment across Ireland has grown by an average of 44 per cent per annum since 2008 and has played an increasingly "catalytic role" in funding the growth of innovative, "born global start-up" companies, according to Alan Watts, director of Halo NI.
"The number of angels active across the island of Ireland has grown significantly over the past few years and all are playing a vital role in economic recovery," he said.
"There is a clear and positive trend among investors and syndicates to increasingly pool resources, diversify investments and collaborate together."
Invest NI’s director of corporate finance, William McCulla added: "£35m is a significant milestone for the Halo Business Angel Network to reach and we fully recognise the important role the network plays in business development.
"There is a wealth of talent and potential in Northern Ireland and these innovators need the right investment, advice and support.
"The Business Angel Network has helped support innovative early stage companies capable of growth on a global scale. Access to an investor’s knowledge, contacts and vital funding has been critically important to them fulfilling their growth potential."
Another Northern Ireland company to benefit from angel investment in recent years is healthcare software firm PathXL whose award-winning cancer diagnostic software is continuing to drive research into improved treatments.
An impressive client list now includes globally recognised names including the Mayo Clinic, Cleveland Clinic, UCLA and Cancer Research Cambridge.
