Irish firm Tekenable is set to round off the year on a high note after securing €1.6m in funding from the Goodbody EIIS Fund.
The Dublin-based technology and services company began 2020 with a jobs announcement. It said it planned to invest €1m in its workforce and hire 60 new staff across solutions design, software development, cultural change consulting and more.
In September, it then acquired software firm Greenfinch and expanded its services to 100 customers across Ireland, the UK, Spain and the Middle East. The acquisition brought Tekenable’s total headcount to 90.
The funding announced today (15 December) will allow Tekenable to expand its services across custom software solutions, digital transformation, IT consulting and mobile app development. It specialises in low-code cloud platforms, which can be customised by individuals without any prior programming knowledge.
The Goodbody EIIS Fund is managed by accountancy and business advisory firm Baker Tilly and wealth-management firm Goodbody Stockbrokers. As well as supporting the company’s international growth into new markets, the funding will allow Tekenable to hire across the areas of new technology solutions and application delivery.
The company’s managing director, Nick Connors, said his team had experienced “tremendous success to date”. Connors founded Tekenable in 2002 with CTO Peter Rose. Since then, the firm has become a Microsoft Gold partner and a Deloitte Fast 50 recipient.
“This funding will allow us to expand our reach significantly into the UK and other European markets, while also allowing us to continue to invest in our people and product development,” Connors said.
Mark Richardson and John Summers from Baker Tilly added: “We are delighted to be investing in such a high-quality and successful business. This is exactly the type of business we like to see in our funds. The company’s management team have a clear grasp of their market and we look forward to seeing them grow to the next level.”
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