Belfast software firm lands further £1.1m investment from growth fund

Bank of Ireland Kernel Capital Growth Fund (NI) has led a £1.1m investment in Belfast-based DisplayNote Technologies Limited, taking its total investment in the firm to £2m.

Founded in 2012, DisplayNote has secured multi-million pound contracts with global blue-chip customers including NEC, Dell and Vodafone.

The Queens Road company will use this investment for key hires as it builds on its internanel tional customer base across the US, Europe and Asia.

DisplayNote Technology builds software that makes it easier for people to present, share, connect and collaborate in real time across large format displays, desktop and mobile devices.

CEO Paul Brown said: “This investment will allow us to bring new products to market, invest further in R&D and grow our team as we continue to expand our global OEM and Enterprise customer base.

Jayne Brady, partner at KerTHE Capital, added: “We recognise the world-class innovation within DisplayNote products, enabling people across the globe to collaborate in real time, simply and effectively.”

DisplayNote has said it believes that meeting spaces should be as productive and effective as possible with no time wasted worrying about tech, who can join and what kind of content can be shared.

It also stated: “Today’s mobile and continuous organisation means collaboration should take place in real time with co-ordination of work baked into the tools and easily accessible.

“Collaboration tools can drive cultural changes in an organisation — like developing products faster, with less bureaucracy, sharing knowledge across boundaries and creating more focus on what’s important.

“Our solutions break down the barriers that stand in the way of simple and effective collaboration. We make it easy for teams to share ideas and information with each other in real-time.”

The Bank of Ireland Kernel Capital Growth Fund (NI) said it is “committed to investing in innovative, export focused Northern Ireland companies”.

It was designed to help SMEs in Northern Ireland to accelerate their growth.

Invest Northern Ireland has committed £15m to the fund, which is part financed by the European Regional Development Fund (ERDF) under the EU Investment for Growth and Jobs Programme 2014-2020.

DisplayNote’s products are now available in 22 languages and have been used on three million devices worldwide.