Bizimply raises €2m in funding round to fuel growth plans

Dublin-based tech firm closes funding round led by Causeway Capital and 500 Startups

 

Irish technology firm Bizimply has completed a €2 million funding round to support the company’s growth plans and announced plans to double its workforce.

Bizimply, which was founded by Norman Hewson, Gerard Forde, Mikey Cannon in 2012, has developed a workforce management platforms that is predominantly used by companies in the hospitality, retail and healthcare sectors.

The software, which manages employee rosters and costs, has more than 10,000 registered users in 11 countries. Clients include Wagamama, Insomnia, Mothercare and TGI Fridays while Bono, Jerry Kennelly and Ray Nolan are among the company’s backers.

Dublin and London-based private equity fund, Causeway Capital, led the funding round alongside 500 Startups, a leading Silicon Valley global venture capital seed fund.

Bizimply said the new funds will be used to expand’s the company’s sales and marketing capability.

The firm, which is based in the Digital Hub, is planning to double its workforce from 14 to 28 people over the next year, with the majority of new roles to be in Dublin.

“We have been growing rapidly over the past 12 months, with interest from businesses all around the world. The investment by Causeway Capital and 500 Startups will enable us to really scale the business and expand our team as we move to the next level,” said chief executive Gerard Forde.

Bizimply won the ESB Spark of Genius award last year and was also crowned Pitch Alpha winner at the Web Summit.

Abridged accounts filed with the Companies Registration Office by the company recently show accumulated losses rose sharply in 2015.

Bizimply’s losses increased by €324,444 overall, from €181,541 in 2014 to €505,985 last year. Net liabilities fell from €99,650 to €25,906 over the year.