Galway’s hybrid workplace management platform, Ronspot has landed €1.1 million in funding. The investment round was led by Furthr VC, the venture arm of Furthr. The round also saw participation from the Halo Business Angel Network (HBAN) and Enterprise Ireland,
Furthr VC backs has an emphasis on highly scalable, export-focused software and medtech companies. The €32M fund has invested in 15 companies to date and is on track to invest in up to 30 companies by the end of 2024.
The fresh funds will support the creation of 10 jobs in the next 18 months. Also, it will help Ronspot to expand its operations globally. When the pandemic hit, the company had to h put its parking product and market expansion on hold.
Michael Furey, CEO, Ronspot, said: “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.”
Richard Watson, Managing Partner, Furthr VC, said: “We are excited to be leading this investment round and look forward to working closely with Ronspot’s leadership team as we prepare for strong international growth and ultimately delivering significant returns for our investors and other shareholders.”
Stephen Stilliard, chair of HBAN’s WxNW syndicate, said: “Having contributed €400K in 2020, angels in our syndicate are once again investing in Ronspot. Angel investors want to back businesses that are built for the future and that is what Ronspot represents. It has recognised, and capitalised on, an exciting market trend and our investors see great potential in that.”
Jennifer Melia, Divisional Manager, Technology and Services, Enterprise Ireland, said: “Enterprise Ireland is proud to invest in this Galway-based company that has strong growth and job creation plans and we look forward to helping them deliver their ambition.”
Helps businesses manage workspaces
Founded by Michael Furey in the year 2017 in Ireland, Ronspot is a 3-in-1 space management solution for businesses to manage their desking, parking spaces, and meeting rooms. It aims to allow companies to easily manage their hybrid workplace and save time on administration, scheduling, staff queries, and real-estate costs.
It was created to help companies solve their car parking issues. Covid brought a big challenge for Ronspot but the company pivoted to desk management, creating a system to help manage office desks.
Currently, Ronspot has over 200 customers in more than 30 countries, in major economic hubs such as Bangalore, Milan and more.