Viva PR links up with innovative public sector impact SaaS platform, Polyloop

Belfast-headquartered Polyloop is all set to transform the way public sector organisations measure the impact of their spending, and has attracted £1.265m in its first funding round – completing one of the highest valuation seeds out of Northern Ireland in the last 12 months.  

The scoop on Polyloop

• Polyloop is tech platform that helps public sector organisations measure the impact of their spending.
• This is necessary because the UK Government annually spends around £432bn on major public projects, but only about eight per cent of that money is robustly evaluated.
• Investors include a former Civica CEO responsible for over half a billion revenue per annum in the same sector.
• Polyloop has already secured a major NHS contract to measure the impact of healthcare benefits.

The business will take on high-profile tech industry support as a result of the funding round, and this will enable co-founders Ralf Alwani and Jak Spencer to grow their workforce, develop more product features and expand into new markets.  

With a team of tech talent and former civil servants, based in both Belfast and London, Polyloop will now look to scale across the UK, Europe and US, targeting an annual recurring revenue of £16m in three years.  

Forbes 30 under 30 alumnus Ralf together with Jak – who’s led major projects for Google, ITV, IKEA and Unilever – founded the business for social good. It enables public sector bodies to track the impact of their spending in real-time, a huge stride in capability for the sector.  

And Polyloop is software that’s clearly needed. Each year the UK Government spends around £432bn on major public projects, with only around eight per cent of that money being robustly evaluated according to the National Audit Office.

How was Polyloop developed and what has it achieved so far?

The business was launched in response to plenty of frustrations at the way impact was being measured in the public sector, and has already worked with government departments in the UK, EU and US on the launch of its minimum viable product and BETA testing.  

Polyloop’s software tool has already started to influence how public bodies with a combined public spending budget of more than £1bn demonstrate and make better decisions.  

Being able to track the spending impact in real-time enables public sector organisations to further their real-world impact, better meet their targets and shape future funding decisions.