Blueface eyes $10.6m investment

Ireland’s BDO Development Capital Fund has invested in Blueface, which will support the company’s expansion plans.

The BDO Development Capital Fund, an Irish public-private partnership focused on growth-stage investments, has committed €10m ($10.6m) to Ireland-based communications-as-a-service provider Blueface, Business World reported on Monday.

Blueface, established in 2004, has developed a cloud-based platform that offers voice communications to enterprise users ranging from SMEs to multinational corporations.

The investment will supported accelerated expansion activities, with the company aiming to boost its current workforce of more than 50 to 80 in the short-term, and to more than 130 by 2022 across Ireland, the rest of Europe and the US.

Andrew Bourg, head of investments at the BDO Development Capital Fund, said: "The BDO Development Capital Fund is delighted to announce details of this significant investment in a highly ambitious company and management team.

“We are backing Blueface’s goal of becoming a significant international player in its chosen market segments with the objective that this sizable investment in conjunction with the support of our funding partners will drive, exploit and maximise Blueface’s international growth opportunities."

Julie Sinnamon, chief executive of export credits agency Enterprise Ireland, which is a backer of BDO, said: "Enterprise Ireland has worked closely with Blueface over the last 10 years to support their growth journey and build a strong international customer base.

“This innovative and ambitious company has grown from strength-to-strength with further plans for recruitment and R&D development here in Ireland. Enterprise Ireland will continue to work closely with Blueface as they expand their global market reach, and we wish them continued success for the future."

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