Richard Watson, managing partner at Furthr VC, and Michael Furey, CEO of Ronspot. Image: John Ohle
The Irish start-up will use its €1.1m funding boost to hire 10 staff, having already doubled its engineering team over the past 24 months.
Ronspot, a Galway-based start-up that makes workplace management software, has been backed by several investors to the tune of €1.1m.
The company started out in 2018 offering a corporate software platform for workers to book car parking spaces. It has since grown to include options for booking hot desks and meeting rooms, as well as visitor requirements, bicycle parking and lockers.
Users can manage and view their bookings using Ronspot’s mobile app. They can also see their colleagues’ bookings and assess availability.
Ronspot’s latest funding round was led by Furthr VC, which recently grew its seed fund for Irish software and medical device start-ups to €32m. There was also investment from the Halo Business Angel Network (HBAN) and Enterprise Ireland.
Ronspot will use the funds to scale its operation, add new staff and tap into new markets. The start-up currently has more than 200 customers in more than 30 countries.
Thanks to the increase in hybrid working globally, Ronspot is seeing continued demand for its services. It is on a rapid growth trajectory and expects revenues to rise by 400pc year on year to 2025.
Michael Furey, CEO of Ronspot, said the company has evolved its product offering to become “an essential tool in any modern workplace”.
Over the past few years, Ronspot has added several new features such as single sign-on and different plans for teams to its platform. These developments meant the company had to more than double its engineering team over the past two years.
Ronspot currently employs 18 people, but plans to create 10 additional jobs over the next 18 months. These roles will be based in Galway and Dublin, with hybrid and remote options available. The start-up will be recruiting across sales, marketing, customer success, data security and human resources.
As part of its efforts to expand into new markets, Ronspot is taking part in Enterprise Ireland’s Enter the Eurozone programme. It hopes to establish a physical presence in Germany, France, Italy and Spain.
“We are delighted to receive this funding from our investors, who share our excitement for the future of Ronspot. The team at Furthr VC have been working closely with us, offering valuable advice as we prepare for a period of rapid global growth,” Furey said.
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