Irish-founded customer communication platform, Intercom yesterday announced a €30m funding round which will see it double its workforce across its offices in Dublin and San Francisco.
The funding will allow it to “double down on everything” with 70 new jobs to be created in both cities.
The huge investment boost will also be put to use in the development sphere allowing it to continue building new and existing products on the Intercom platform.
Co-founder and chief executive, Eoghan McCabe said yesterday’s announcement will continue the company’s phenomenal growth and expand its global reach.
“We’re a product-first company, with 50% of our employees working in R&D. We nearly tripled headcount in 2014, and already in 2015 have nearly doubled to over 140 employees. We’ll double globally again over the next 12 months, and build out our platform so every single team in a business can use Intercom for all customer communication,” said Mr McCabe.
The $35m Series C round brought the total amount raised to date to $66m.
The round was led by Silicon Valley-based Iconiq Capital which helps manage the fortunes of billionaires including Facebook’s Mark Zuckerberg, with previous venture capital investors coming back for a larger slice of the pie too.
Among these were Series A lead investors, The Social + Capital Partnership and its Series B lead, Bessemer Venture Partners.
“What Intercom have built so far is truly outstanding,” said The Social + Capital Partnership general partner, Mamoon Hamid.
“They’ve made incredible progress in the two years since we invested in them. I see pretty much all of the great [software as a service] companies around and they are one of the fastest growing of their generation.”
The success of the company in catching the eye of investors seems to add credence to its Irish founders’ decision to establish a US office from the off.
Unlike many multinationals whose sales and support services are often run from Ireland, Intercom has flipped that on its head by locating its entire research and development, and product development team at its St Stephen’s Green office.
Its single platform suite of integrated products for each team within an organisation is a fundamentally new way for internet businesses to communicate with customers personally and at scale, the company says. It currently has 7,000 paying customers in over 85 countries.
Meanwhile, hopes that Cork’s tech scene could be in line for a major boost emerged yesterday as Ballincollig-based software firm, VMware announced it had signed a lease on another property ahead of an expected expansion of its workforce. The new building will have room to accommodate 350 additional staff which would bring the total employed by the company in Cork to 1,100.
While no new roles were announced yesterday, as the company celebrated 10 years in Cork, VMware EMEA general manager, Jean-Pierre Brulard said the company would “of course” add more roles in the coming years.
“If we are taking a new building it’s to use it. We know at company level we need to extend and need to grow in the next years as well and the more we will grow, the more we will need to have centralised offices and processes... here in Cork.
“We just need to be scalable and to anticipate in advance what should be the expansion. To tell you exactly how many people in which function is difficult to say,” Mr Brulard said.
© Irish Examiner Ltd. All rights reserved