Software company expands following angel network backing
BELFAST-based software company Adoreboard has secured a major injection of angel funding to support a series of major contract wins and create six jobs, a mixture of sales and marketing, data analysts and engineering roles.
The money has come from the Halo Business Angel Network (HBAN), which is a joint initiative of Enterprise Ireland, InterTradeIreland and Invest NI, and Co-Fund II, which is part of the Invest NI's Access to Finance portfolio and is managed by Clarendon Fund Managers.
Adoreboard, formed in 2011 by Chris Johnston and with a current staff of 11, uses emotion artificial intelligence (AI) to improve customer and employee experience. The technology has been used by brands such as Nike, BMW and Three Mobile.
The company, which earlier this month moved to new offices on Queen's Street, was recently awarded 2019 ‘Cool Vendor' status by Gartner in artificial intelligence for customer analytics.
Chief executive Chris Johnston said: “Our software measures human experience through emotion AI and this is critical if you want to deliver business impact through better employee and customer experience.
“The HBAN process has been a real catalyst for this growth period in the company. We've added a number of new customers including Franklin Templeton on employee experience and major FMCG brands on customer experience.”
He added: “The business angels we have worked with have brought a wealth of experience to the company and have provided us with opportunities to expand the business internationally.”
Michael Black, one of the business angels to invest in Adoreboard, said: “Adoreboard is changing the way brands market their products through innovative AI. I look forward to sharing my experience in the tech sector with Chris and his team.”
Brian Cummings, investment director at Clarendon Fund Managers, added: “The recognition by Gartner is a testament to the strength of the Adoreboard platform and this latest funding round will help the company transition through its next phase of growth.”