They boast an AI-backed system that can “classify and identify traffic streams,” which “prioritizes business-critical traffic.”
Belfast cloud computing startup Ampliphae announced a £1.4 million investment on Thursday led by the local trade office of Northern Ireland, Invest NI.
They boast an AI-backed system that can “classify and identify traffic streams,” which “prioritizes business-critical traffic.” The company manages cloud services’ wide-area networks (WAN) for enterprises and internet service providers, a vertical that promises lucrative rewards to the Belfast startup should its growth continue.
For example, a similar Israeli company Teridion raised $15 million in September 2015 from JVP, Magma, and Singtel Innov8 to create a “Waze for the Internet” that relies on WAN networks to develop information short cuts that speed up communications. Another WAN-focused cloud startup, Chennai- and Los Altos-based VeloCloud, raised $27 million in January, lifting its total haul to $49 million.
“Our products tackle this complexity using cutting-edge artificial intelligence, enabling our customers to operate networks more effectively and thus ensure their business-critical applications perform correctly,” asserted Ampliphae CEO Trevor Graham in a announcement.
It appears to be a follow-up to an investment announced two weeks ago from Crescent Capital. That first round was worth £1 million. The latest round included another £500,000 in equity investments from Crescent Capital, according to the Belfast Telegraph, and £465,000 from the government fund Invest Northern Ireland (Invest NI). Invest NI’s contribution is partly funded by the European Regional Development Fund. The cash will go toward hiring 20 new employees.
Belfast startups have enthusiastic private and public support
The primary investors represent a commitment to boost local entrepreneurs. Crescent Capital is a Belfast-based VC with a penchant for supporting early-stage funding for Northern Irish tech companies. They claim to invest between £450,000 and £1.2 million on initial investments, with up to £3 millin available to each investee over all its rounds. Some of their other investments include SpeechStorm, Nisoft, Andor Technology and Omiino. Invest NI, the business promo arm of Northern Ireland, has made other investments in the past.
“Ampliphae is a highly innovative technology company operating in an area of high growth potential. Its investment to develop and commercialize cloud-focused enterprise network products is progressing well and will create employment opportunities in specialist roles,” said Northern Ireland’s enterprise minister, Jonathan Bell, who expected the company to add £1.2 million to the local economy. “Once again we are seeing the rise of Northern Ireland’s telecommunications industry and Invest NI’s support for this project is enabling Ampliphae to position itself to succeed in the global telecommunications market.”
The company is run by CEO Trevor Graham, CTO Tim Croy and CFO Angela Reavey. The company is headquartered in Belfast at the Northern Ireland Science Park in Belfast.