Enterprise Ireland, Enterprise Equity and local Donegal investors have put up E1.1m of first round funding for Iontas, a Donegal-based software company.
Iontas said the money would be used to market the company in the US and develop further products.
The company has target revenues of E30m a year. It said the investment was the first step in a three-year plan and that it would require “significant further investment”. The company started off with about E444,000 in seed funding from private investors.
Iontas makes PC-monitoring software. Its principal customers so far have been call centres, but the company plans to sell to corporates as well.
Enterprise equity is a subsidiary of the International Fund for Ireland.