Messaging specialist Webio has raised €1.5 million in investment in a pre-Series A funding round. Finch Capital led the latest funding round with a €500,000 contribution. Other participants included Enterprise Ireland and EIT Digital.
Founded in 2016, Webio helps clients in financial services, insurance and other sectors to communicate with their customers on sensitive subjects such as credit, collections and payments. Its customers include the Very Group, Energia and Littlewoods.
Webio came in second place on the Deloitte Technology Fast 50 list last year. It operates in the conversational artificial intelligence (AI) market which is expected to grow to €11 billion by 2024.
Speaking to The Irish Times, chief executive Cormac O’Neill said the funding would go towards further product development and increase staff numbers with a plan to double the company’s R&D team. “A company like Webio needs to continually invest in its product. We can never let up because things change so fast,” said Mr O’Neill.
Jerome Maume, partner at OFX, advised Webio on the legal aspects of the investments and other previous investments since 2016.
Jerome has specialised for 28 years in providing legal support to companies and businesses in the cutting edge IT sector including many startups which have achieved great success. Congratulations to all at Webio in completing this investment and in all future developments.