Business Irish

Tuesday 24 October 2017

Openview puts $12m into Irish cloud firm Fieldaware

Bill McCabe
Bill McCabe
John Mulligan

John Mulligan

US VENTURE capital outfit Openview has invested $12m (€8.8m) in Irish cloud software services firm Fieldaware.

The Irish firm – also backed by Irish tech entrepreneur Bill McCabe through his Oyster investment vehicle – develops and sells mobile applications that are used by workers in the field.

The applications are designed to improve efficiency and relationships with customers by streamlining workflows and automating processes.

The company, previously known as Glidesys, was founded by Andronikos Nedos and Ray Cunningham, who both completed their postdoctorates at Trinity College Dublin.

The National Digital Research Centre (NDRC), based at the college, is also a shareholder in the company. Mr Cunningham and Mr Nedos had joined the NDRC LaunchPad programme after completing their postdoctorates.

PORTFOLIO

New filings indicate that Boston-based Openview Partners invested $11.5m in Fieldaware through one of its funds and $451,000 through another in September.

Openview's investment portfolio includes stakes in a range of technology companies involved in software, internet and new media.

IT executive Fergus Gloster, who's managing director of Marketo International, is also a shareholder in Fieldaware.

Fieldaware's development work is based at its headquarters in Dublin, but its main marketing and sales office is in Chicago.

Earlier this year, the company said it planned to double its Chicago workforce to 80 by the end of 2013. That would also boost its group-wide employee numbers to 160 from 100.

Mr McCabe's Oyster Capital firm was also an investor in Irish telematics firm Fleetmatics, having sold its stake in 2010.

Fleetmatics floated on the New York Stock Exchange last year, raising $125m and valuing the firm at close to $600m.

Fieldaware's senior executive in the US, chief marketing officer Brendan Sullivan, previously worked at Fleetmatics and was tapped to work for Fieldaware by Oyster Capital.

Irish Independent

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