Big Reg Cloud, which currently has in excess of 75,000 customers in Ireland and the UK, say that the majority of the capital injection will be used for growth, expansion of the local team and entry into other markets.
Commenting on the announcement, Big Red Cloud CEO Marc O’Dwyer,
“DunPort Capital are a perfect fit for our business – they have an excellent track record in the Irish market of supporting established SMEs to achieve further growth. Most of the funds have been earmarked for the expansion of the business, both in terms of headcount and other markets. We plan to add another 7 people to our team in the next 12 months – and to further increase the workforce in the following 12 months. We have targeted rapid growth to achieve 100,000 customers and also exploring opportunities overseas namely in Malta and possibly the UK, once Brexit has come to a conclusion. We will also consider acquisitions should the right opportunity come up.