SIREN (EGFF)

Promoter – Financial Intermediary

SINDICE LTD

Location

• Ireland

Description

Siren is an Irish company founded in 2014 offering an intelligence platform that makes it easier to use the data collected by organisations to answer questions and make links, find patterns and relationships. It makes data accessible through real-time search, dashboard analytics, knowledge graphs and real-time alerts. The investments (2022-2024) concern the company's research, development and innovation (RDI) activities. The investments aim at further developing the capabilities of the Siren platform and strengthening its competitive edge, as well as further penetrating the Security Analytics market spanning Law Enforcement, Intelligence, Cyber Threat and Fraud & Insider Threat.

Additionality and Impact

The project supports the policy objective of innovation and digitalisation, as it supports the development and market introduction of an innovative investigative intelligence platform that, through its forensic capability, supports the protection of citizens, society and the economy.

With the support of this project, the promoter further enhances and expands its offering, to address new groups of customers and areas of application in existing and new geographies. The project secures and builds up deep technology expertise in the software domain and supports Europe's digital sector.

The EIB investment supports an EU-based technology firm with the potential to become a leader among investigative intelligence platform providers. The Venture Debt financing complements VC funding and provides first access to debt for the company.

Objectives

The project objectives are to further develop the capabilities of the Siren platform and to strengthen its competitive edge, as well as to further penetrate the Security Analytics market spanning Law Enforcement, Intelligence, Cyber Threat and Fraud & Insider Threat.

Sector(s)

• Services - Information and communication

Proposed EIB finance (Approximate amount)

EUR 12 million

Total cost (Approximate amount)

EUR 27 million

Environmental aspects

The project activities do not fall under the Annexes I or II of the EU Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).

Procurement

The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the promoter are suitable for the project.

Status

Signed - 23/11/2022