Dublin mobile app integration start-up Swrve, which was founded by Havok founders Hugh Reynolds and Dr Steve Collins, has raised $30m in financing and will create 45 new jobs after acquiring data automation player Adaptiv.io.
Swrve’s platform enables brands to deliver contextually rich and relevant in-app mobile interactions. It will use the funding to expand globally and invest in product innovation.
The investment follows a $6.25m investment in 2012 that saw the company announce 100 new jobs at the time.
Swrve achieves 1bn installs
It also follows 1bn installs of Swrve’s mobile engagement platform SDK.
Leading the latest investment round is Evolution Media Partners (EMP), a partnership of the Creative Arts Agency backed Evolution Media Capital, TPG Growth and Participant Media, and the Ireland Strategic Investment Fund (ISIF). Others participating in the oversubscribed round included existing investors Acero Capital and Atlantic Bridge.
The company has achieved 400pc growth in its most recent quarter as the product attracts demand in fintech, media, publishing and entertainment.
Swrve intends to commence a rapid hiring programme in Dublin, San Francisco, New York, London and continental Europe.
“This is a key moment in the evolution of Swrve,” said the company’s co-founder and CTO Dr Steve Collins.
“This funding round, with its strong mix of US and Irish partners, and acquisition, reflects incredible momentum and growth for the company.
“It also reflects the dynamic ecosystem that has been developed in Ireland for technology companies.
“It’s a good time to be a technology start-up in Ireland and our journey since founding Swrve five years ago certainly reflects that,” Collins said.
