BANK OF IRELAND SEED FUND
LEADS €550K INVESTMENT IN SWIFTQUEUE
swiftQueue
From Left: William McNamara, Business Advisor, Bank of Ireland Lexlip; Michael Moriarty, Manager of Financial & Enterprise Software High Potential Startups, Enterprise Ireland; Dawn Walsh, Marketing Manager, Kernel Capital & Brendan Casey, CEO, swiftQueue.
Cork, Ireland, 6th October 2015:
The Bank of Ireland Seed and Early Stage Fund is pleased to confirm a €550k syndicated investment in swiftQueue Technologies Limited (“swiftQueue”), a leading provider of healthcare appointment software in Ireland and the UK. The funding round comprises of a €300k investment by Kernel Capital through the Bank of Ireland Seed and Early Stage Equity Fund with the remainder of the funds provided by Enterprise Ireland.

swiftQueue has developed an innovative platform that enables patients of Hospitals and Clinics across the UK National Health Service (NHS) and Health Service Executive (HSE) in Ireland to book their appointments online leading to significantly reduced waiting times and non-attendance rates. Their highly scalable SaaS platform will deliver over 1 million online appointments this year for customers including Royal Free London NHS Trust; George Eliot Hospital NHS Trust, St. James’ Hospital and The Mater Misericordiae University Hospital.

swiftQueue will use this round of funding to drive growth in international markets and to fuel further investment in R&D. The Enterprise Ireland supported company currently employs 10 people and is planning recruitment of key hires over the next twelve months to support these growth plans.

Commenting on the announcement, Brendan Casey, CEO, swiftQueue Technologies Limited said: “Increasing efforts to address the challenges in today’s Healthcare systems have seen a greater emphasis on the use of technology to deliver integrated and efficient solutions that improve patient engagement. This investment from Kernel Capital and Enterprise Ireland will enable swiftQueue to expedite our growth plans and ensure our team deliver the solutions to meet and exceed these expectations.”

Orla Rimmington, Partner, Kernel Capital added: “As Health Ministers globally drive to cut patient waiting times; this efficiency is being enabled through the implementation of innovative technologies such as swiftQueue™. Kernel Capital is delighted to invest in this dynamic Irish company.”

Donal Duffy, Head of Enterprise Ireland Relations at Bank of Ireland added: “swiftQueue is another example of how a simple innovative idea using modern technology can be capitalised on with the right mix of intelligence, ingenuity and commercial acumen. The Bank of Ireland Seed and Early Stage Fund now boasts a diverse range of companies across several dynamic sectors, including cloud computing. This latest investment in swiftQueue provides a win-win situation all-round – enhancing the patient experience while increasing productivity for the health provider. We look forward to continued success for swiftQueue, which is a terrific example of the calibre of company that we welcome to the Fund in future.”

Enterprise Ireland’s Michael Moriarty, Manager of Financial & Enterprise Software High Potential Startups, said: “It is fantastic to see the progress that swiftQueue has made through the creation and implementation of innovative technology. This investment will facilitate swiftQueue in further consolidating its presence in key export markets. swiftQueue is an excellent example of the progress that can be achieved when the ambitions and energy of a young company are harnessed and supported through our High Potential Start-Ups programme.”

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For further information please contact:
Dawn Walsh, Kernel Capital.
Tel: +353 21 4928974

Notes to Editors:

About swiftQueue www.swiftQueue.com
swiftQueue solutions are revolutionising hospital patient access by delivering innovative healthcare appointment platforms. swiftQueue are working with Hospitals and Clinics of all sizes across NHS in UK and HSE in Ireland and specialise in enabling Patient Access, reducing Waiting Times and increasing Clinic Attendance Rates. Our solutions allow Hospitals and Clinics to meet growing patient expectations cost effectively while leveraging real-time insights and reports that are instrumental in providing more efficient clinics.

About Kernel Capital
www.kernel-capital.com
Kernel Capital is manager of the Bank of Ireland Kernel Capital Venture Funds and with its associate life science investment firm Seroba Kernel has in excess of €235m under management in venture capital funds, investing in ICT, Life Science and general seed and early stage investments. These Funds are supported by Bank of Ireland, Enterprise Ireland, Invest NI, University of Limerick Foundation, NUI Galway Foundation and a range of other financial institutions including public and private pension funds and a family office. The Bank of Ireland Kernel Capital Venture Funds portfolio of 80+ companies employ almost 1,200 people in Ireland and have been granted over 150 scientific patents. Kernel Capital and its 40% owned associate firm Seroba Kernel are committed to dynamic, innovative, knowledge based companies and recognise that it is an exceptional time for investment.

Bank of Ireland Seed and Early Stage Equity Fund
Bank of Ireland Seed and Early Stage Equity Fund is a €32m Fund that invests in start-up and early stage companies, with a focus on export orientated high potential start-up companies that operate in the technology (including green technology), food and financial services sectors, in addition to supporting patent and patent pending projects within Irish universities. It is managed on behalf of Bank of Ireland and the other partners by Kernel Capital. This fund comprises of an investment by Bank of Ireland, Enterprise Ireland, University of Limerick Foundation and NUI Galway. The €10m Bank of Ireland MedTech Accelerator Fund is part of this Fund.

About Enterprise Ireland www.enterprise-ireland.com/en/
Enterprise Ireland is now the largest early stage VC investor in Europe in terms of the number of investments made. It is a seed investor in over 100 new High Potential Start-ups each year and also over 80 companies at pre-seed stage through its Competitive Start Fund. It is also a Limited partner in the vast majority of VC funds based in Ireland over a dozen of which are actively investing. In addition, through its network of 30 international offices, Enterprise Ireland actively supports Irish companies to grow their export markets and create valuable jobs in Ireland.
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