Delta puts €2m into Irish web company

IRISH WEB company WhatClinic. com has secured a €2 million investment from Delta Partners, The Irish Times has learned.

This will enable it to begin hiring an additional 30 staff to bring its staff headcount to 50 and to launch a Portuguese language website that will target the booming Brazilian market.

Meanwhile, Delta expects to invest another €40 million in about 15 Irish companies over the next year or so from two funds it has raised.

Delta has acquired a minority stake in the business but neither party would reveal what value it places on the technology group.

WhatClinic.comfounder Caelen King said this marked the first time an institutional investor had taken a stake in the company, which provides information and reviews on a range of healthcare clinics in 55 countries.

“We received lots of interest but Delta had the deepest pockets and the largest reach,” Mr King said. “They also have a good knowledge of the industry and have invested in similar consumer brands.”

He added that the business was profitable and the investment would allow it to expand more quickly and hire across three areas – engineering, sales and marketing, and data entry.

Commenting on the investment, Maurice Roche, a general partner with Delta, said: “We think this is a company that can be a category leader for elective private healthcare treatments.”

This is Delta’s 12th investment here over the past year and Mr Roche said it would continue to seek out opportunities here.

“We are very much open to investment and we’ll be active in the Irish market over the next 12 months,” he added.

“We anticipate these companies will have the potential to create over 1,000 jobs for Ireland as they grow.”