Industry cloud company Clarity CX1 is to create 30 new jobs over the next two years after a €1.6m funding round led by DBIC Ventures.
Set up in February 2020, Dublin-based Clarity CX1 develops tailored customer relationship management (CRM) solutions built on the Salesforce Lightning platform.
The solution was developed to fill a gap in the market for strategic sales and relationship management in sectors with notoriously complex and multi-layered customer engagement structures, including life sciences, manufacturing and financial services.
Clarity CX1 is targeting large multinationals operating in the US, Asia-Pacific, Europe and the UK as part of its expansion plans.
It estimates that the market for its services is about $11 billion a year and it expects to reach revenues of €1m by the end of the year.
DBIC Ventures, which was launched in 2019, is investing in up to 30 highly scalable, export-focused Irish software and MedTech companies up to year-end 2024.
The fund is backed by Irish technology entrepreneurs and business leaders, as well as Enterprise Ireland. Also contributing to the funding round were business angel investors from Halo Business Angel Network (HBAN), Enterprise Ireland, Tribal.vc and Spark Crowdfunding.
Chris Deren, CEO and founder, Clarity CX1, said the company was delighted to have the backing of DBIC Ventures as it goes to market.
"They have not only provided us with capital, but also the experience, knowledge and network of contacts that are so important at this early stage. With this support - along with the financing - we will be able to scale globally at pace," he added.
Colm O'Sullivan, Partner, DBIC Ventures, said today's "significant" investment underlines the founder’s impressive track record and the clear global market need for Clarity CX1.
"The company is pursuing an aggressive growth strategy and targeting some of the world’s most profitable industries," he said.
