SpeechStorm raises £1.8M as it completes management buyout

Funding

SpeechStorm, a provider of interactive voice response software, has announced the completion of a management buyout and the closing of an initial funding round of £1.8 million.  

The funding is from Crescent Capital, a venture capital fund manager, Kainos, a software company supplying Electronic Document and Records Management systems, and the SpeechStorm senior management team, Oliver Lennon, Damian Kelly and Brendan McCarthy.

The investment will allow Belfast-based SpeechStorm to accelerate development of its interactive voice response applications for retail, financial services and telecoms sectors and expand its operations in international markets.  

Oliver Lennon, CEO, said, “This investment is an endorsement of SpeechStorm’s capabilities and strengths in our existing markets and our strategic vision for the company.”

SpeechStorm was first established as a business unit within Kainos in 2007.