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Based in Leitrim’s Carrick-on-Shannon, Cora will use the investment from SEP to fund the next generation of its product development.
Irish software company Cora Systems announced that it has received a significant equity investment from Scottish Equity Partners (SEP) to grow its software-as-a-service platform.
Founded in 1999 and headquartered in Co Leitrim, Cora is a project and portfolio management software provider that counts several Fortune 100 companies from a range of industries among its clientele. Clients include Abbvie, Honeywell, Irish Rail and the UK’s national health service (NHS).
Philip Martin, founder and CEO of Cora, expressed his delight in SEP joining hands with Cora, “given their outstanding credentials in backing high-growth software companies”.
“It is clear that in SEP, we have found a long-term partner who understands the scale of the opportunity and who is excited to work with us to bring our transformative software to more enterprise customers across the globe.”
Cora has experienced exceptional growth in recent years, especially in the US. The company has regional offices in the US and the UK.
“In the last 12 months alone, we’ve grown over 200pc. We’ve increased our headcount by over 50pc,” Susanne Kerins, Cora’s head of marketing, told SiliconRepublic.com in a recent interview.
A little over a year ago, Cora said it planned to create more than 300 new jobs to fulfil its ambitions to scale its business in Ireland and in the US. Recruitment is still underway.
The latest investment from SEP, the value of which has not been disclosed, will support the next generation of product development at Cora and expand its reach within the project and portfolio management software market.
“Cora offers an outstanding software solution that enables increased automation, efficiency and strategic alignment for enterprises with complex project landscapes,” said Keith Davidson, who led the SEP investment along with partners Tim Ankers and Alizeh McClelland. “The business has an excellent reputation amongst its clients for product innovation and usability, being a critical part of customers’ workflows.”
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