Feedhenry announces €7m funding round
2 May 2013 | 0
FeedHenry, a provider of cloud-based mobile enterprise application solutions, has today announced that it has secured €7 million in a funding round led by Intel Capital and that it plans to create 100 jobs over the next two years, with the majority located in its Waterford and Dublin offices.
The funding includes a seven figure investment from existing investor Kernel Capital. Other existing investors – VMware Inc, Enterprise Ireland and private investors – also participated and were joined by new investment from ACT Venture Capital investing from its AIB Start Up Accelerator Fund.
FeedHenry CEO Cathal McGloin said: "2012 was an amazing growth year for us and clear validation that an agile, cloud-based mobility platform is what enterprises want when it comes to supporting their mobile enterprise strategy.
"This investment will allow us to accelerate our growth plans across Europe and North America, and continue our commitment to a research and development base in the south-east."
FeedHenry was originally an R&D project established in the Telecommunications Software & Systems Group (TSSG) in Waterford Institute of Technology (WIT). It was spun out in November 2010 and received seed capital funding in 2011 from the Bank or Ireland Seed Fund managed by Kernel Capital.