IT Design gets $10.5m (€11.1m) funding
Irish software company, IT Design has received a $10.5m (€11.1m) funding from US based funding firm Fidelity Ventures, which has invested over $300m €317m in similar companies in the past five years.
IT Design was founded over 10 years ago and specialises in designing software for the social service sector, with the New York Department of Labour and UK government amongst its notable clients.
It is understood that the deal follows a series of new contracts for the Dublin based firm in its US, UK and Singapore markets. IT Design currently employs 100 people and has offices in Dublin, California, and India, although its employee count is set to increase following the new contracts.
IT Design is currently profitable, following a period of losses in between 1998 and 2000. This investment is Fidelity's first in an Irish company, and shows that Irish firms still generate interest in international circles.
