TEKenable Announce €1.6m Funding

Company Says Goodbody EIIS Funding Will Be Used for R&D and International New Markets Team Expansion

Dublin based technology and services company, TEKenable has announced €1.6m funding from the Goodbody EIIS Fund to support its international growth following its acquisition of Greenfinch Technologies earlier this year.

The Goodbody EIIS Funds is a series of professionally managed EIIS Funds run by wealth management firm Goodbody Stockbrokers and Baker Tilly, a network of independently owned and managed accountancy and business advisory firms. 

TEKenable was founded in 2002 by Nick Connors and Peter Rose and now employs 90 people through its operations in Ireland, UK, Spain and the Middle East. The company focuses on delivering digital services through Low Code platforms to medium and large-scale enterprises and says it is committed to transforming forward-thinking public and private sector businesses into fully digital businesses in the cloud.

TEKenable, a Microsoft Gold Partner, says the funding will be used for research and development, enhancing the delivery of their ‘Low Code’ cloud platform solutions and to grow their team of experts in the areas of new technology solutions and application delivery. It says it also plans to enter new markets. 

Speaking of the funding, TEKenable MD, Nick Connors said; “We have experienced tremendous success to date and this funding will allow us to expand our reach significantly into the UK and other European markets, while also allowing us to continue to invest in our people and product development.”

Mark Richardson and John Summers from Baker Tilly commented; “We are delighted to be investing in such a high quality and successful business.  This is exactly the type of business we like to see in our Funds.  The company’s management team have a clear grasp of their market and we look forward to seeing them grow to the next level.”

TEKenable was advised by Paul Keenan of Capnua Corporate Finance, and Wallace Corporate Council provided legal advisory services.

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