With more technological advancements in optimising data security comes increased opportunity for data firms to develop and utilise new methods to refine data security, diminish risk and improve safety among clients. As a result, many tech companies in Northern Ireland have recently gained traction in the tech/data scene.
These tech firms based out of Belfast have been seeing increasing funding opportunities and are expanding their company growth. Many of these firms have been advertising employment opportunities, implementing new technological advancements and achieving large-scale recognition.
Its platform, Minerva, helps clients use their records and information to find hidden correlations between different factors and draw conclusions on threats, discover opportunities or find inconsistencies in their data.
In December 2020, the company received a grant of $65,800 (£56,700). In January 2021, it announced that it would be recruiting with progressive growth plans in that upcoming year.
Last month, the company was named among 32 tech companies joining a UK Government-backed tech growth program. The program, which is Tech Nation’s third Applied AI growth program, is intended to support tech firms that use AI to achieve real-world impact.
AquaQ Analytics, founded in 2011, provides services for users within the capital markets and other sectors. It offers domain knowledge, analytical techniques, technology expertise and data mining services. The company also provides consulting services based on real-time analytics, kdb+/q, enterprise server technology, cloud and UI technologies.
Since its founding, AquaQ Analytics has grown to over 200 consultants located onsite in the UK, and internationally. In May 2021, the company raised an undisclosed amount of funding from Sovereign Capital, which it appears is being used for employment growth, as the firm is currently hiring for roles across all streams. It has filled leadership roles as well, bringing on Patrick Dooher as head of Cloud Services.
Automated Intelligence was founded in 2010 and helps organisations use their data through – as the name suggests – automated intelligence. It provides users the tools to organise, analyse and improve the quality of their data. The firm does so by helping users to transition from long-term data suppliers to a cloud strategy. In addition, its technology allows users to comply with policy obligations while transitioning to a Microsoft platform.
In February 2021, the company launched its RegTech platform for financial firms. Last month its platform AI.DATALIFT was named PCI DSS Compliant.
Datactics was founded in 1999. The company provides resources that help non-technical users fix their problems without relying on IT-resourced solutions. Datactics’ low-code self-service data quality and software tools are designed to help business teams to identify and resolve data issues in banking, finance and government.
In May of this year, the company received a £2 million investment raised from Clarendon Fund Managers, Par Equity and Kernel Capital, which it had intended to use for company growth and increasing revenue.
In July, the company unveiled a new dedicated Belfast Client Services hub at One Lanyon Quay to expand its workspace and accommodate its growing team of staff members. Furthermore, it has recently been hiring consultants for its Data Academy career program set to begin in December of 2021.
Diaceutics focuses on data analytics and providing end-to-end services for users. The provider is enabled by DXRX, the world’s first diagnostic network solution for the development and commercialisation of precision medicine diagnostics. The firm aims to aid pharmaceutical companies with integrating diagnostic testing into their treatments to accelerate the development of precision medicine.
The company was founded n 2005. It is listed on the AIM Market of the London Stock Exchange. It has also built the world’s largest repository of diagnostic testing data.
However, recently the company has been experiencing financial losses. In September 2021 earnings reports showed that while its revenue has risen to £6 million from £5.3 million, so has its administrative expenses, to £5.1 million from £3.8 million. Nevertheless, Diaceutics representatives remain optimistic about the company’s growth, explaining that the goal in 2021 was to transition clients to DXRX and that it surpassed its predicted level of success through the new platform.
The five names above are just a taste of how the data tech industry has expanded in Northern Ireland.
For example, in May Belfast City Council said it was working in partnership with local companies Xpand and Allstate NI on two data projects. Northern Ireland Finance Minister, Conor Murphy announced the winners of the Department of Finance’s Open Data Innovation and Outreach Fund.
Finally, as more organisations are using modern security methods like cloud technology and AI-based resources to protect data, the increased employment opportunities displayed by many tech companies show that the Northern Ireland tech sector may continue to grow.
The possibility of expansion in the upcoming year is dependent on how effectively these growing firms use their acquired talent and resources.
This is the second in a series on tech companies in the region. Check out ‘Seven Cybersecurity Companies in Northern Ireland to Watch’ here.