Irish environmental software developer AMCS Group has raised €23.5 million for its international expansion. The funding round was led by Highland Capital Partners Europe (HCPE), according to The Irish Times.
The new capital will allow the firm to expand its market reach into Europe, Australia, New Zealand, and the Americas. This is Highland's first investment in an Irish firm since it opened a Dublin office in 2013. Previous investor Investec Ventures also contributed to the funding, the report detailed.
The Limerick-based firm was founded by Austin Ryan and Jimmy Martin. Last year, the company posted a turnover of €18 million from 700 customers worldwide in the waste management industry.
Currently employing 130 people, AMCS would use the new funding to add 40 more staff members in Limerick in the next couple of years, the report added.
HCPE Partner Tony Zappala said of the company: "AMCS Group is a very attractive business with patented unique software solutions which is leading the way business and governments make the move from simply handling waste to managing resources and providing better services to customers."
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