independent

Wednesday 20 September 2017

Additional €1.5m investment for Sonru

Wexford-based technology company Sonru, which offers an automated video interview platform to clients, has secured an additional €1.5m investment from a vehicle backed by Saphir Capital Partners.

The Luxembourg vehicle Cronulla initially took a stake in Sonru in 2014, also investing €1.5m in the business at that stage. Cronulla is also backed by investors including individual Saphir executives and other private equity and financial firms including Edison Capital Partners.

Following its 2014 investment, Cronulla injected additional cash into Sonru, including a further €1.5m in 2015. Accounts for Cronulla filed in Luxembourg show that at the end of 2015 it listed a €2.87m investment in Sonru as its sole fixed asset.

The accounts note that at that stage, Cronulla held a 22.1pc stake in Sonru, suggesting the Irish firm's valuation at the time was in the region of €13.5m. Founded by CEO Ed Hendrick in 2007, Sonru's clients have included Qatar Airways, Nestle, Rolls Royce and Volvo.

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