Cork firm Granite secures $10m backing as it eyes US expansion
Joe Higgins, Rob Carpenter and MJ Murphy, Seamus White and Conor Buckley. Picture: Michael Mac Sweeney/Provision
Cork digital transformation firm Granite Digital has secured a $10m (€8.6m) investment from BGF to fund its international expansion, with a particular focus on the US.
Since it was founded in 2008, the Conor Buckley-led firm has been in acquisition mode, finalising eight deals for other firms since 2020. Today, it operates across Cork, Dublin, Galway, Belfast, New York, and Dubai, with a staff of 170.
As well as supporting business growth, the investment will allow Granite to enhance its digital capabilities, with a strong focus on artificial intelligence (AI).
"We are both expanding our geographic footprint in the US and accelerating our knowledge," chief executive Conor Buckley said. "Scaling in high-growth, competitive markets like the US and the Middle East is a necessity to stay ahead.
"The investment empowers us to scale our digital innovation and AI platforms globally and deepen our commitment to our Irish clients by ensuring they remain at the forefront of digital transformation and retain their competitive digital advantage.”
The deal marks capital investor BGF’s latest investment in scaling Irish tech-enabled businesses. BGF was set up in 2011 and has invested more than €5bn in over 600 companies, making it the most active investor in Ireland and the UK. In Ireland, it is backed by the Ireland Strategic Investment Fund, Bank of Ireland and AIB. BGF has €250m available to invest in Irish SMEs.
Separately, Granite appointed US-based Joy Marcus as non-executive chair. She has previously held executive roles at major organisations including Condé Nast, Time Warner, MTV Networks, Barnes & Noble and DailyMotion. Ms Marcus takes over from current chair Alf Smiddy, who has held the position since Granite was founded.
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