Development Capital invests €6m into Irish firm IP Telecom

IP Telecom CEO Shena Brien

Irish owned telecoms carrier IP Telecom received a €6m investment from fund manager Development Capital to fuel revenue growth.

The cloud-based services firm IP Telecom said the funds will enable annual revenues to grow from €6m to €11m and will enable future acquisitions deals.

Development Capital has injected €100m into Irish SMEs since 2013, including its recent investment into IP Telecom.

The investment into IP Telecom is the fourth by Development Capital Fund II, the second €75m fund managed by Development Capital. The other three investments by Development Capital Fund II so far were for Spotlight Oral Care, Nomadic Foods, and Wogan Build Centre.

Anthony O’Driscoll, investment director at Development Capital, will join the board of IP Telecom as part of the investment.

“With this investment, our innovative technology solutions, dynamic customers, and Anthony O’Driscoll’s counsel on our board, we are set to fulfil this goal and much more as part of the thriving, innovative tech ecosystem in Ireland,” said Shena Brien, IP Telecom CEO.

IP Telecom was established in 2010 and is led by Ms Brien and CTO Brian Chamberlain.

The company provides telephony services to more than 4,000 business customers across the tech, IoT, education, logistics, retail and agriculture sectors. Customers include French sport and leisure retail chain Decathlon and the Irish Cancer Society.