Northern Ireland

Scottish investment for NI firms Plotbox and Datactics

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A Scottish venture capital firm has invested in two Northern Ireland technology companies.

Par Equity has taken a £2m stake in Plotbox in partnership with Ironbridge Capital.

Plotbox, based in Ballymena, County Antrim, makes cemetery management software.

It will use the funding to improve the functionality of its software and to expand sales and marketing efforts.

Par Equity has co-invested with Kernel Capital to take a £1.2m stake in Belfast-based data analytics firm Datactics.

'Core market success'

The company said part of the funding would go towards hiring additional key personnel for its head office.

Par Equity investment manager Graeme McKinstry said: "Northern Ireland is producing some very high quality opportunities for venture capital investment.

"Plotbox and Datactics are two of the best in class.

"Both firms have track records of strong sales growth and success in their core markets.

"What's key for us is that they've demonstrated both the scalability of their businesses and their customers' appetite."