Tech firm gets €2.5m cash injection from investors

IRISH-owned technology company — 10CMS — has received a €2.5 million cash injection from Irish and British 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.