Newbay raises €3.2m in funds

NEWBAY Software, a company set up by a former senior executive at Baltimore Technologies, has raised €3.2 million in new funding.

Dublin-based Newbay was set up by ex-Baltimore vice-president Paddy Holohan who raised the money from Benchmark Capital, which is run by the former Esat Digifone boss Barry Maloney.

Mr Maloney will join Newbay as a non-executive director.