Declan Ryan-backed Frontline fund takes a punt on Orchestrate start-up
Frontline Ventures, the Dublin technology venture capital firm, has invested in a $3m (€2.3m) seed-funding round for groundbreaking US start-up Orchestrate.io.
Frontline, whose investors include Declan Ryan, son of the late Ryanair founder Tony Ryan, made the seed investment along with Silicon Valley fund True Ventures and Michigan-headquartered Resonant Venture Partners.
Orchestrate.io was founded by Antony Falco to make it easier for developers to crunch data in the cloud and build more feature-rich applications for users. Falco estimated the value of the market at $100bn annually.
"We believe our service will save our customers significant time and money, allowing them to instead focus on the end-user. With Orchestrate.io, our customers can build better apps faster," he said.
Frontline's investment with Falco follows its previous participation in a €1m funding round for Logentries, a spin-out from UCD.
Frontline's three partners are Irish tech-veterans Shay Garvey of Delta Partners, IT entrepreneur William McQuillan, and Will Prendergast, a former partner at NCB Ventures. Its first fund has been reported to be raising over €30m to invest in start-ups here and overseas.
Ryan, who has business interests ranging from airlines to life sciences, has invested €10m in its fund. True Ventures, Frontline's fellow investor in Orchestrate.io, has funded over 100 firms and has $600m in capital under management.