Amartus raises €1.2m in capital investment
Dublin-based Amartus has secured €1.2 million in investment as it seeks to expand its service delivery platform for telecommunications clients.
The funding round was led by Kernel Capital through the Bank of Ireland Seed and Early Stage Equity Fund. Kernel Capital invested €500,000, with Enterprise Ireland, angel investors and company promoters providing the remaining funding.
Amartus, which provides the telecommunications industry with a means to provision and manage networks effectively, will use the funding to market, sell and expand its Chameleon OS Service Delivery platform.
The platform can automate the roll out and delivery of network, communication and cloud services to customers and partners, typically in the business-to-business area.
“Automation is critical for the delivery of telecommunications network services and Amartus has developed a rapid-response solution for fast, dynamic, on-demand service activation and operations, which is exactly what network operators need,” said Dr Daniel McCaughan, Kernel Capital’s chief technology officer.
“The result is faster roll-out and shorter time to service.”
The funding will be put into the sales and marketing, with a small amount going into development.
Biggest funding round
Chief executive Michael Kearns said the funding round was its biggest to date, with the company raising about €2.3 million.
“We’re transforming the company largely from a services consulting company to a product-based company. That is the focus for the company . . . to provide product-related services, to broaden our product portfolios,” he said.
“We’ve built a core platform and built applications on that platform, and now we will continue to widen the suite of applications we deliver. We would like to continue to grow. There’s no end to our growth plans.”
Founded in 2003, Amartus has offices in Dublin, Poland and the US, and counts Cisco, ECI Telecom and Transition Networks among its client list. It also works with the Metro Ethernet forum, responsible for setting standards for carrier Ethernet networks.
“We’re trying to drive standards in this area,” Mr Kearns added. “They are typically more focused on the equipment itself or at the service provider level at the services that are delivered. The automation is a big gap in their armour now and it is one of the key areas of focus for them.”
The company expects to increase its headcount from 45 across its business to 65 by the end of the year.