25 Aug Northern Ireland software firm led by women secures £1m contract
A female-led Belfast tech company has secured contracts valued at over £1m in the last year across the defence, healthcare, and commercial sectors.
Article taken from: Belfast Telegraph
Software company Kinsetsu’s client list now includes NHS hospitals in England, Wales and Scotland, the Royal Navy, Dumfries & Galloway Council, RTE and Tekno Surgical.
While less than 2p in every £1 invested during 2022 went to all-female founding teams, Kinsetsu successfully attracted £1.55m in backing from venture capital firm Par Equity and Co-Fund NI.
Par Equity partners with innovative, fast-growing technology companies in the north of the UK, with Co-Fund NI already playing a vital role in the expansion of the company’s business operations.
Allistair Moore from Par Equity said: “Kinsetsu is in the right place at the right time, and we’re excited about its potential to radically automate and optimise tasks and workflows for its customers whilst delivering substantial savings.
“Led by visionary founders, Joanne and Jackie, the company’s proprietary software delivers a return on investment of over 400% for its customer base, bringing full transparency to their asset tracking on a global basis. We’re thrilled to support the business on its scaling journey.”
Founded in 2016 by Joanne O’Doherty and Jackie Crooks, the company “provides innovative sensor-based and automation technology solutions that are deployed to drive positive change within critical service environments”.
The company’s ‘ktrack’ software “works by simplifying the connection and management of assets using a diverse network of sensors, providing automated insight and status awareness of equipment, people, inventory and fleet”.
Ms O’Doherty, said: “Jackie and I are immensely proud to be female founders working in tech and in defence – neither of which is a common trait, creating jobs in our hometown, and making a real difference in all the sectors we serve.
“In addition to investment, our growth has been fuelled by the development of Kinsetsu’s partner channel and creating relationships in new global markets, which have expanded customer diversity and enabled us to focus on new product development.”
Since its beginning as a start-up in a service office seven years ago, the company has grown to almost 30 employees with offices in Belfast, Galway, and Ottawa.
Earlier this year, its founders were awarded Tech Team of the Year at this year’s Women in Tech Awards hosted by Women in Busines