“Kerry Company Donseed Ltd. to Invest ?1.2m to
Accelerate International Sales Growth, with support from
26 New High Value Jobs to Be Created”
thToday (30 January 2008) Minister for Enterprise, Trade and
Employment Micheál Martin T.D. announced that Tralee-based company Donseed Ltd is to invest ?1.2m to accelerate international growth. The
?1.2m investment, with support from Enterprise Ireland and the AIB Seed Capital Fund, will enhance the company’s in house R&D and Sales
functions and create 26 new high-value positions at the company over the next two years.
Donseed provide web-based workplace management solutions to the construction, retail and energy sectors. Donseed’s solutions enable
customers to track real time attendance, eliminate time leakage, reduce costs by reducing administration, track health and safety compliance and enable the contract teams to share project information in a secure environment. The company is working with construction companies in over 100 sites across Ireland and the UK.
Making the announcement Minister Martin said:
“I am delighted to announce this ?1.2m investment by Donseed Ltd and
the creation of 26 new high value jobs, primarily in Tralee. With support from Enterprise Ireland, Donseed has developed a unique workplace management service for the international construction sector and has significant future growth potential. The company illustrates the potential for innovative Irish companies to become world leaders, by anticipating and responding to international market opportunities”.
“The company’s growth and the 26 new high-value jobs, which include a combination of R&D, technical support and sales roles, will also bring benefits to the wider local economy. The company’s choice of location is
a significant endorsement for Tralee and the Kerry Technology Park,” he
Commenting on the investment, Tom Hayes, Head of High Potential Start-Ups at Enterprise Ireland said:
“Donseed represents the new breed of innovative and scalable high potential start-ups that Enterprise Ireland is keen to support. Blending software and services, the company provides a complete solution to an international customer base, including companies such as Whessoe Oil & Gas (UK), Lancsville Construction Ltd (UK) and Precision Construction Ltd (IRE). Enterprise Ireland’s international offices are working closely with Donseed to develop new international sales leads for the company and to support new market entry, particularly in the Middle East and U.S.”
Vincent Lynch, CEO of Donseed added:
“Donseed’s unique web based workplace management solutions have
enabled customers to achieve significant cost savings and operational efficiencies without the need for investment in IT infrastructure. We are making this ?1.2m investment to capitalise on our successes to date and to accelerate our expansion into additional markets and sectors in line with our strategic growth plans. This expansion plan will lead to the creation of an additional 26 jobs over the next two years, primarily at our headquarters at Kerry Technology Park, Tralee.
“Our investment is enabled through the support of Enterprise Ireland and a ?500,000 venture capital funding from the AIB Seed Capital Fund. This fund is co-managed by Enterprise Equity. This is the first investment by the AIB Seed Capital Fund,” he added.
Frank Walsh, Investment Executive, Enterprise Equity commented: “We are delighted to be associated with Donseed, a company with a strong management team, experienced board and a proven ability to deliver operational and financial results”
For Further Information Contact:
Sarah O'Callaghan Vincent Lynch
Press Officer CEO
Enterprise Ireland Donseed Ltd
Tel: +353 (0) 1 808 2755 Tel: +353 66 7190312
Mob: +353 (0) 87 125 3221 Mob: +353 86 8592799
Web: www.enterprise-ireland.com Web: www.donseed.com
About AIB Seed Capital Fund
The AIB Seed Capital Fund was established in 2007 to provide venture capital for companies at the seed and early stages of development across a range of sectors throughout the Republic of Ireland. The Fund was established under the Enterprise Ireland Seed and Venture Capital Programme 2007-2012. The Fund has a total of ?30m under
management with AIB and Enterprise Ireland both committing ?15m. It
is managed by Enterprise Equity.
Donseed is a provider of workplace management solutions. Its customers use Donseed to track real time attendance reporting across all sites, eliminate time leakage, save costs from reduced administration, completing, checking and keying timesheets, support the delivery of Health & Safety compliance and to support the document management needs of the organisation through a document management module. This announcement will bring to 32, the total employed in the company. For more information, see www.donseed.com
Pic. Brian Gavin/Press 22