CORK SOFTWARE company 10CMS has closed a €2.5 million round of investment, led by British investment house Octopus Investments along with Sadlier Reilly Capital, the company’s original seed investors and several private investors.
10CMS, which has offices in Ireland and Britain, has developed software that enables online retailers to manage their inventory better and sell more products. A number of major brand names are already using its system including Tesco, Jimmy Choo, A|Wear and Waterford Wedgwood.
Halfords, the British retailer of car and leisure products, this week announced it had implemented 10CMS’s commerce content management product to present interactive promotional material to customers depending on which part of the website they first visit.
10CMS said the new funding would be used to consolidate its market position in Britain, expand into new markets including the US, and further develop its products. The group raised €600,000 last June and has had total funding of €3.5 million.
The latest version of commerce content management supports visitors to websites on mobile devices including the iPad and also has Facebook integration.
Fergal O’Mullane, co-founder and vice-president of strategic business development, said 2010 was a very successful year in terms of product development and sales.
Separately, Digital Mines, a new cloud computing service provider, has raised €750,000 of venture capital. Delta Partners led the round committing €350,000 from the Bank of Ireland start-up and Emerging Sectors equity fund.
The balance of the investment came from Enterprise Ireland, Digital Mines chief executive Ed Byrne and private individuals.
Digital Mines has developed a service that makes it easy for customers to set up and manage cloud computing environments.
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