StormHarvester secures £8.4m from YFM and Emerald Technology Ventures to fund international expansion
The Belfast based water management software company raised the capital from YFM Equity Partners and Emerald Technology Ventures to double its workforce and expand abroad.
StormHarvester develops automated water management software that helps wastewater utilities prevent flooding and pollution. Based in Belfast, the company provides machine learning and rainfall forecasting tools used by the majority of UK wastewater providers.
StormHarvester has secured £8.4m in funding from YFM Equity Partners and Emerald Technology Ventures to expand its workforce and accelerate international growth. The Belfast based software firm will direct the capital towards broadening its product range, scaling sales and marketing efforts, and entering new markets in Australasia and North America.
The company developed an automated water management platform powered by machine learning and rainfall forecasting, which is currently utilised by 75% of UK wastewater utilities to prevent flooding and pollution. Following commercial momentum built since the launch of its AI platform, the business aims to double its headcount over the next three years while reinforcing its presence in the domestic market.
From the founder
"This significant investment represents a transformative step in our company’s journey, fuelling our expansion and creating exciting opportunities for Northern Ireland’s job market. We’re thrilled to announce new positions spanning sales and marketing roles to drive our global reach, alongside cutting-edge technical roles that will shape the future of our smart technology as we advance our innovative product roadmap."
Brian Moloney
CEO at StormHarvester
Investor perspective
"Having been the first to market in the UK, the StormHarvester team has carved out a market-leading position, expanding to meet ever-growing demand from the utilities sector. The company is now focused on international expansion, and we are excited to be supporting its scale-up journey. More importantly, we are immensely proud to be associated with a company that is making a tangible difference in reducing pollution and flooding. By enabling utilities to proactively manage their networks, StormHarvester’s technology is setting a new standard in environmental stewardship and sustainability."
Mike Clarke
Partner, YFM Equity Partners
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing
- 04Expand into international markets
Investors
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About the company
StormHarvester
StormHarvester provides automated water management software for wastewater utilities.