Tech firm gets €2.5m cash injection from investors
The e-commerce software provider, with offices in Cork and London, develops software that makes it easier for consumers to purchase from websites and for online retailers to sell to them. Online retail sales reached a combined global value of $600m last year and are set to grow by a further 20% per annum in the years ahead.
On the back of this, 10CMS has managed to raise extra capital — it previously raised €600,000 from various private investors last year — from a number of sources, including British company, Octopus Investments and Irish venture capitalists, Sadlier Reilly Capital — which was the company’s original seed investor.
“At 10CMS, we’ve developed a platform that solves a number of key challenges facing online retailers, not only delivering significant cost savings, but also helping to drive increases in sales,” said the company’s co-founder, Fergal O’Mullane.
“This fresh investment gives us the resources we need to consolidate our market position in the UK and Ireland and continue the development of a world-class commerce content management platform,” he added.
The company’s backers have been attracted by 10CMS’ development into one of the leading innovators in its field — its software platform being able to extend from websites into mobile devices.
