Kernel Capital is leading an investment in Dublin-based TCAS Online Limited, which provides student accommodation management software.
Kernel Capital, through the Bank of Ireland seed and early stage equity fund, is investing €250,000 in the company, with another €400,000 coming from Enterprise Ireland and private investors.
Research shows that globally, the student accommodation market is estimated to be worth over $200 billion.
With increasing competition among accommodation providers to fill student beds, TCAS has developed an online platform which allows customers to streamline and manage all operational aspects of student accommodation. This results in higher occupancy rates.
The company's customers include two of the UK's largest accommodation providers, Fresh Student Living and CRM Students. It has also expanding into the Asian market.
TCAS said it will use the new funds to drive further growth in international markets and to further enhance its product offering.
