IT management solution Kaseya has secured a ?38m funding round, as it looks to create 130 new jobs in Ireland.
Of the funding, Ireland Strategic Investment Fund contributed ?19m, and joined a group of other investors.
The company, which is owned by Insight Venture Partners, is an IT management solution for mid-sized companies. Through the company’s solutions, businesses can automate manual tasks, gain visibility and control of remote or distributed environments and solve problems for end users.
Kaseya technology can be used for a range of processes including: finance, hospitality, healthcare, retail and education among others. For financial institutions the solution can automate tasks, and fulfil IT audit reporting requirements.
Following the investment, the company is looking to create up to 130 jobs in Ireland by adding to its Dublin-based team, which currently employs around 30 people.
Alongside the job creation, Kaseya is launching a collaboration with third-level universities and institutes of technology across Ireland. Thorough this programme the company hopes to provide a range of internship opportunities and support computer science courses at Irish universities and institutes of technology.
ISIF head of private equity Fergal McAleavey said, ?This investment promises a significant economic impact. It will bring high-quality software jobs and further cement Ireland as the destination of choice for global software companies seeking an EU presence.p>
Last month Ireland Strategic Investment Fund made a $100m commitment to a global software fund managed by Insight. The investment was made in hopes to fill the funding gap for Irish software companies.
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