Furthr VC leads €1.5M investment in Klearcom

Waterford, 10th March, 2023 – Furthr VC today announces that it has led a €1.5M investment round in Klearcom, with Enterprise Ireland and HBAN’s Bloom Equity syndicate also contributing to the round. The investment brings Furthr VC’s total investment in Klearcom to €1.1M in the last 18 months as the company rapidly expands its global customer base.

The investment comes at a time when the IVR market is seeing rapid growth and increased demand due to the continuous expansion of customer care and sales teams within enterprises.

The Growing Need for Klearcom’s Services

As companies continue to grow their customer care and sales teams, they’re simultaneously grappling with constrained budgets and high competition for customers. This puts immense pressure on them to ensure their call centres are operational and reachable 100% of the time.

Klearcom’s CEO, Liam Dunne, commented on this growing need, stating, “This has increased the demand for Klearcom’s services and we expect continued significant growth in our customer numbers and revenues for the foreseeable future.”

Strategic Partnerships for Success

The latest funding round saw Furthr VC lead, with participation from Enterprise Ireland, and Bloom Equity, all of whom had been involved in Klearcom’s previous investment round. Dunne expressed his delight at their continued support, attributing much of Klearcom’s success to these strategic partnerships.

“Our partnership with Furthr VC has been pivotal to getting us to where we are now, as they have provided strategic support, valuable industry introductions, as well as introductions to senior new team members who will help to steer Klearcom’s future.”

A Broader Market Opportunity

With the fresh funding, Klearcom aims to develop more market-first and cutting-edge technologies that will set them apart from the competition. The market opportunity for Klearcom is broadening, and this investment will help them capitalize on that.

Recognizing Klearcom’s Potential

Colm O’Sullivan, Managing Partner at Furthr VC, and a board member at Klearcom, expressed his excitement about the investment. He acknowledged the significant market potential Klearcom has tapped into and recognized the company’s impressive growth trajectory.

“When we established Furthr VC’s latest fund, it was companies like Klearcom that we had in mind. The founders have tapped into a space with enormous market potential on a global scale and already, we are witnessing the impact of that on the company’s growth trajectory.”

As Klearcom embarks on the next part of their journey, their exemplary leadership and ability to deliver market-first technology will undoubtedly define their future success.

About Furthr VC

Furthr VC, the venture arm of Furthr, launched its latest early-stage venture fund in late 2019 with the backing of leading Irish technology entrepreneurs and business leaders, as well as Enterprise Ireland. The fund invests in Seed to Series A-stage B2B software and MedTech companies in Ireland, with initial investments of up to €650K. Furthr VC partners with ambitious start-up teams developing globally scalable products and services, positioning them to become the next generation of Ireland’s leading technology companies. In addition to providing institutional capital at an early stage, Furthr VC can invest up to €3M in a company through subsequent follow-on investment rounds.

About Furthr

Since 1988, Furthr has equipped ambitious founders with resources to launch and grow their businesses. Offering a comprehensive range of support to Irish entrepreneurs, Furthr provides consultancy, programmes, and events to bolster innovators’ confidence in front of potential investors. Furthr aids entrepreneurs in starting and scaling businesses by providing funding, programmes, and connections. Over 80% of Furthr-supported companies have obtained third-party finance, with over 500 companies raising funds through Furthr-managed programmes.

About Enterprise Ireland

Enterprise Ireland is the Irish government organisation responsible for the development and growth of Irish enterprises in world markets. The organisation works in partnership with Irish enterprises to help them start, grow, innovate and win export sales in global markets. In this way, Enterprise Ireland supports sustainable economic growth and regional development, and help create and sustain employment in Ireland.

About HBAN

HBAN, a joint initiative of Enterprise Ireland and InterTradeIreland, promotes business angel investment across Ireland. It supports early-stage entrepreneurs, works to increase angel investors, and aids in the formation and development of new and existing angel networks across various sectors. HBAN also represents the angel investment community to government, stakeholders, business, and media. It is managed by Furthr in partnership with regional Irish BICs in Cork, Galway & Waterford, and Clarendon Fund Managers in Northern Ireland.

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