Drumbo-based technology company RepKnight is investing almost £1 million to research, develop and market highly advanced technology in new export markets with support from Invest Northern Ireland.
RepKnight is a specialist in open source data monitoring, providing in real time both sentiment analysis, which determines if online data is positive or negative in tone, and geographical analysis, which is where the data originated. This allows government and commercial analysts to identify threats and emerging events, as well as provide an immediate global or local view of public opinion on key issues.
The latest investment of £974,072 will enable the company to refine key elements of its technology making it a much more competitive product in new target markets such as the Middle East and the US.
Invest NI has offered £338,486 of support towards research and development, which includes part funding from the European Regional Development Fund, and an additional £88,752 to assist with export marketing activities. The company has also received an Innovation Voucher worth £4000 to access expertise and research from the University of Ulster prior to embarking on its development project.
Alastair Hamilton, Chief Executive of Invest NI said: “RepKnight is a technology start up company which has seized the opportunities presented to them following on from a successful Small Business Research Initiative (SBRI) competition. They have developed their technology quickly and brought it to market in a short space of time, using a range of support from Invest NI.
“As a result, the company has gained a strong foothold in an emerging and highly valuable export market and plans to target new opportunities in key regions. Invest NI’s continued support will help the company to build upon this success.”
John Reid, CEO of RepKnight said: “Increasing volumes of open source intelligence data mean that the problem of surfacing actionable insights is growing. At RepKnight, we identified the need for an effective, efficient and adaptable piece of technology that would deliver to intelligence analysts the data sets that they need in real time.
“The UK market has been our primary target to date but we have identified several significant opportunities in the Middle East and the US, which offer rapid and significant growth potential. To realise this potential we must continually develop and enhance our existing technology to include more sophisticated data harvesting and visualisation.
“Our product is unique, and the support from Invest NI will help ensure that we have the capability to take full advantage of new business and continue to develop our reputation in the security sector.”