Email firm Mesh secures EI and Elkstone funding

Funds will work towards research and development as well as talent acquisition and the expansion of markets.

Niall McEvoy, Venture Partner at Elkstone; Brian Byrne, CEO and co-founder, Mesh; Minister of State for Employment Affairs and Retail Business, Neale Richmond; Ralph Casey, co-founder and CTO at Mesh; Enterprise Ireland CEO Leo Clancy.

Dublin-based tech firm Mesh has raised €1.55m in seed-stage funding that will allow it to expand creating 40 jobs over the next four years.

The funding round was led by Elkstone, and backed by Enterprise Ireland. In a statement, Mesh, which creates email security software, said the injection of capital will enable them to expand their platform and global presence. 75 per cent of the new jobs will be based in Ireland across multiple disciplines including sales and marketing, customer support, and product development. 

The funds raised will also be allocated towards areas such as research and development, talent acquisition, and market expansion.

Mesh was founded in 2020 by Brian Byrne, Ralph Casey, and Daimhin Kavanagh is response to the growing and more sophisticated cyber-attacks with email remaining the top attack vector.

It protects organisations against various email threats, including business email compromise, ransomware, and spear-phishing.  Mesh serves over two thousand organisations worldwide.

Niall McEvoy, Venture Partner at Elkstone who led the fundraising said they see Mesh as a company with an impressive founding team and really tight founder market fit. "With strong early-stage commercial traction already evidenced, the team has built an excellent foundation to drive accelerated growth across global markets," he said. The Elkstone Ireland Venture Fund €100m fund is the largest seed stage fund in the Irish market.

Progress

Enterprise Ireland CEO Leo Clancy said they are acutely aware of the cyber security challenges that face the global business world. "The company has made great progress in a short space of time to develop a market-ready and proven tech stack and has already achieved significant market traction for its innovative product offering. We look forward to continuing to support the team at Mesh in delivering accelerated growth across global markets," he said.

Mesh CEO Brian Byrne said: "This funding will accelerate our product development roadmap, facilitate customer base expansion, attract top-tier talent, and reinforce our commitment to providing an email security platform that MSPs love."