Tech start-up Intercom bags €17m in funding, plans to expand to 100 staff
A Dublin-based startup today announced new funding of €17m and an intention to expand its Irish operation to 100 jobs.
Intercom, which creates online business communications software, raised the funding round through Bessemer Venture Partners, a company that has previously invested in LinkedIn, Skype, Pinterest and other large web firms.
The company had previously raised over €5m in initial funding from investors which included ex-Twitter founder Biz Stone.
The new jobs will be in engineering and product development, according to a company statement. The company currently employs 47 people, split between Dublin and San Francisco.
Intercom was founded in 2011 by Eoghan McCabe, Des Traynor, David Barrett and Ciaran Lee. The firm’s product is used primarily by businesses for marketing, sales and customer support functions.
Mr McCabe said that it aspires to be the Whatsapp of business communication tools.
“Internet technologies are still catching up with how humans interact offline,” he said. “The majority of progress in [online communication] is on the consumer side with Facebook, WhatsApp, Snapchat and others. Intercom is a seamless, lightweight way for the whole company to connect personally with their customers. The incumbents haven’t innovated in over a decade. Our vision is to be at the center of all customer communication for all kinds of Internet business, which increasingly every business is becoming.”
Mr McCabe said that the company has almost 2,000 paying customers, including medium-sized web firms such as Heroku and Hootsuite. He also said that the company’s revenue is currently “in the millions”.
“35pc of our weekly active users log in five days per week,” he said.
The company has also hired a senior tech industry veteran, Mark Woolway, as its new chief operating officer.
Mr Woolway was previously a top executive for PayPal and Yammer.