Without LRM we wouldn’t exist
About four years ago, Hans Constandt happened to bump into LRM. “We clicked instantly. When I subsequently needed capital to start up my own company, I found the Limburg investment company more than willing to come on board,” he says. Ontoforce was born: a company that is able to filter relevant information from masses of data. A success story...
Like many companies, Ontoforce grew out of the frustration of its founder. “I was looking for very specific medical information, but had got to the stage where I couldn’t see the wood for the trees,” Hans Constandt tells us. “Given my background in medical technology, I began creating software that can filter the right data from a large dataset. The aim is to make the multiplicity and complexity of data easy to understand, in a user-friendly way.”
LRM believed in the story from the beginning, and injected 500,000 euros into it. “Without them, we couldn’t have got started,” says Constandt. “Not only did they make funds available to us, but also a wealth of expertise. Various specialists within both LRM itself and its network helped us progress. It was my first experience as an entrepreneur, so I certainly appreciated the support on that level.”
Ontoforce has an office on the Corda Campus in Hasselt. “We want to develop the company further, among other things by expanding our support department. The rest of the operations are based in Ghent, where we are able to find a lot of staff who are content specialists. Increasingly, we are becoming an international company. Up to 80 per cent of our income already comes from the US, and we also get support from LRM in that market. They have contacts with BelCham in New York and introduce us to potential partners on prospecting trips. Certainly if we organise a new capital round next year, having the right contacts in the US will be really important.”