Press Releases
TERMINALFOUR to create 15 new jobs after attracting EUR1.6M (USD$2.3M) funding
Investment to be used to support international business growth. TERMINALFOUR to grow its global partner network, sales force and research and development.TERMINALFOUR, a leading web content management company, today announced it has secured €1.6m of equity funding. The investment will fund the creation of 15 new jobs by 2011.
The investment was led by The Ulster Bank Diageo Venture Fund, managed by NCB Ventures, with investment also provided by The AIB Seed Capital Fund, managed by the Dublin Business Innovation Centre (DBIC), and with grant aid from Enterprise Ireland (EI).
TERMINALFOUR provides web content management (WCM) solutions to universities, public sector bodies and multinationals. It currently has over 200 customers throughout Ireland, the UK and Europe and is now positioned to expand beyond its European base and capitalise on growing sales opportunities in North America. TERMINALFOUR has already developed a partner network and won a number of reference university clients in the US and Canada.
The equity funding will accelerate TERMINALFOUR’s growth strategy and will be used to finance the development of its partner network, sales force and research and development. The company also plans to increase its employee numbers from thirty-five to fifty including sales, pre-sales and customer service jobs in its Irish headquarters.
Piero Tintori, Chief Executive Officer, TERMINALFOUR, said, “We’re an Irish software company with a large client base of blue chip companies throughout Ireland, the UK and Europe. We decided to raise equity funding to provide us with the platform and strength to develop our interest in the US market. Given our very strong position, this investment gives TERMINALFOUR the platform to capitalise on the growing international opportunities.”
Leo Hamill, a Partner with NCB Ventures, said: “We are delighted to support the Company’s expansion and job creation initiative. Piero and his team have entrepreneurial flair and a proven ability to sell as reflected in the strong client base already established in Ireland and the UK and we look forward to providing continued support to TERMINALFOUR as it implements its ambitious growth strategy.”
Alex Hobbs of DBIC, Investment Partner of The AIB Seed Capital Fund, said, “TERMINALFOUR is a clear example of the entrepreneurial talent and potential that Ireland has to set up and develop highly innovative new technologies and enterprises. We are delighted to support TERMINALFOUR in seeking new markets and opportunities for its world-leading web content management software.”
The Ulster Bank Diageo Venture Fund will nominate Leo Hamill to the Board of TERMINALFOUR.
About NCB Ventures (www.ncb-ventures.com)NCB Ventures, the venture capital arm of NCB, manages the €75 million Ulster Bank Diageo Venture Fund established in 2008 under the Enterprise Ireland Seed and Venture Capital Programme 2007-2012. The Fund invests €1-€5 million in Irish companies across a range of sectors and all stages of development. NCB has €94 million under management and has invested in 26 Irish businesses taking them from early stages of development through to trade sale and IPO. NCB’s investment team comprises Michael Murphy, Leo Hamill, Will Prendergast, Nicky Fitzgerald and Derek Crawley.
About the Dublin Business Innovation Centre (www.dbic.ie)
Dublin Business Innovation Centre, Investment Partner of The AIB Seed Capital Fund, has extensive expertise in making seed and early stage investments. The AIB Seed Capital Fund was established in 2007 under the Enterprise Ireland Seed and Venture Capital Programme 2007-2012 and has a total of €53m under management to provide venture capital for companies at the seed and early stages of development across a range of sectors throughout the Republic of Ireland. More information on The AIB Seed Capital Fund is available at www.aibseedcapitalfund.ie.
About Enterprise Ireland (www.enterprise-ireland)
Enterprise Ireland is the government agency responsible for the development and promotion of the indigenous business sector. The agency’s core mission is to accelerate the development of world-class Irish companies to achieve strong positions in global markets resulting in increased national and regional prosperity. Enterprise Ireland offers a range of business development programmes, services and supports to both emerging and established firms.