Derry election software company Modern Democracy has raised €800,000 (£700,000) in an investment round aimed at expansion both in the UK and globally.
Modern Democracy specialises in election software designed to streamline the polling process, delivered as Software-as-a-Service (Saas).
Its initial platform, Modern Polling, focused on changing how both voters and polling staff experienced the check-in process at polling stations.
The company says it has since expanded the platform’s capabilities to include such features as real-time reporting and analytics on election day performance between polling stations, for election managers and returning officers.
It’s now testing out what it describes as ‘flexible voting pilots’ after being commissioned by the government of Wales to run the project. The purpose of these is to make it easier for people to vote, by offering flexibility on when and where they can do so.
In Association with
Director of strategy Ann-Marie Slavin said: “Backed by a government-led programme of change and accelerated by the Covid-19 pandemic, the demand for digital transformation at polling stations is increasing.
“Modern Democracy has already introduced modern polling software throughout the UK for local authorities and as the government aims to streamline the voting process, there is high potential for growth in the sector.”
Angel investors
The funding round was led by local business angel investors, including members of the Halo Business Angel Network (HBAN), whose investment was matched by Co-Fund NI and backed by existing shareholder Capital Crescent. Modern Democracy says it “aims to use the £700,000 investment to expand market share in the UK and explore international markets”.
HBAN member and Modern Democracy chairman Brian Reid added: “Modern Democracy has been backed over successive funding rounds by local business angels, who spotted the potential in the dynamic and experienced founding team. A few of these angels have since joined the board of the company to lend their expertise in sales and scaling to lead the business to global success.”
Clarendon Fund Managers manage both the HBAN network in Northern Ireland and Co-Fund NI.
Investment director Jim Curran commented: “The experienced team is primed to transform the polling station market, helping councils to revolutionise the polling station experience while lifting the administrative burden of election day reporting.”
