Solgari, an Irish software firm that provides integrated communications through a cloud-based platform, has raised €4.5 million in a new funding round with investors including Enterprise Ireland.
Other backers include Focus Capital Partners, whose other investments include BHSL and Airsynergy, and a number of private technology investors in Ireland, the US and UK.
The new funds are to be used for product development, including Solgari Communicator, and the launch of the company's integrated solution with Microsoft Dynamics 365 on Microsoft's AppSource marketplace.
Solgari, which was co- founded in 2012 by John Colgan, Vance Harris and Edward Grant, provides compliant and integrated omni-channel cloud communication services to customers in 33 countries. It employs 17 people full-time but plans to increase headcount in the US, Germany and Singapore.
The company’s integrated cloud software service provides a range of digital business communication channels including voice, video, chat & SMS, while automatically addressing GDPR, PCI DSS & MiFID II regulations through compliant recording & archiving of communications.
Q Advisors, a global investment banking boutique which recently advised on the Blueface/Star2Star €500 million merger, acted as financial advisor to Solgari for the funding round.
“We have carefully considered where the communications market is moving towards and we recognised the demand from growing companies to integrate all their customer communication channels while also addressing onerous regulations such as GDPR and MiFID II through a Software-as-a-Service (SaaS) solution,” said Mr Colgan, the company’s chief executive.
“Solgari has significant USPs and given our customer success to date and rapidly evolving partnerships with global cloud leaders such as Microsoft, we are really excited about the extent of the opportunity in front of us,” he added.
