Irish digital buildings information management company Integrated Facilities Solutions has raised €2m in equity through an employment and investment incentive scheme which is managed on behalf of investors by BES Management, a joint venture between BDO and Davy.
IFS said the new funding will support its growth and expansion plans into targeted markets in Europe and the US.
This will see the company double its revenue and headcount this year and next, with the creation of 100 new jobs by 2024.
It currently employs 16 staff at its Blanchardstown office and is supporting client sites in the UK, Europe, the US and the Middle East.
IFS is a client company of Enterprise Ireland and also recently secured funding from a Bank of Ireland SBCI scheme and Enterprise Ireland.
The company works with blue-chip firms in the public and private sectors to provide a more streamlined approach to buildings and property management.
Its software and services provide a secure environment for managing building information from planning and design stage, construction and handover to operations and maintenance for the building owner and operator.
It counts Bank of Ireland, Children's Hospital Ireland, University College Dublin, University of Strathclyde, Dublin Zoo, Fingal County Council and multi-national technology companies among its clients and its applications have been used on the Aviva Stadium, Croke Park, Dundrum Town Centre and Irish Rail.
Kieran Beggan, the company's CEO and co-founder, said the new funding represents an important milestone for the business and is testament to the significant growth potential of Digitisation across AEC and Facilities Management (FM) sectors.
"We are currently extending our footprint in rapidly growing sectors that have seen accelerated growth despite challenges presented by the pandemic. This funding will enhance our Executive team and expertise as will our capability to drive customer success and acquisition in European and US markets," Mr Beggan said.
George Harold, CEO and co-founder, said that the company has been at the forefront of the Digital Transformation of Building Information over the past 20 years.
He said that when the company was set up, it could see there was a gap in the marketplace with the construction handover to building owners, especially in relation to how information was traditionally provided in unmanageable hard-copy format to clients at the end of the build.
"We are thrilled to have secured this funding from BES Management as it will help to expand our software and footprint into new global markets. We very much look forward to continuing to develop our position with blue-chip firms as they invest in strategic building projects and infrastructure in the years ahead," Mr Harold added.
