Immedis secures €25m investment from Scottish Equity Partners
Financial services technology company Immedis has secured €25 million in strategic investment from Scottish Equity Partners (SEP).
The Irish-based specialist provider of enterprise technology solutions for global payroll and mobility tax services to multinationals has grown rapidly and plans to use the investment to expand further into growing markets across the US, EMEA and APAC.
Immedis chairman Terry Clune said: “Immedis has a proven track record of delivering global payroll for some of the world’s biggest companies through our innovative technology solution.
“I am delighted to welcome SEP as part of our organisation to continue the enormous success of Immedis on a global scale.”
The company has grown from 10 employees in 2016 to over 170 people today, and plans to recruit 200 more people over the next 18 months.
The new roles will support the company’s ongoing expansion, providing a growing number of the world’s largest organisations with global payroll services and software.
Immedis CEO Ruairi Kelleher said: “We are delighted to be partnering with SEP. Their investment and experience of scaling technology companies will help us further execute on our ambition to be the best in the world, continuing to balance our market leading technology with deep international tax knowledge that puts our platform to the fore of the global payroll landscape.
“This external validation proves that we are making significant inroads into the global market and doing so in a compelling and sustainable manner. We are delighted to announce the creation of new roles across all areas of the business to ensure our position at the leading edge of our industry whilst maintaining the highest standards that underpin what Immedis represents.”
Keith Davidson, partner at SEP, added: “Immedis has a fantastic record of growth to date, the leading cloud-based global payroll platform in iConnect, and an exceptional track record of delivering for its customers.
“Our investment is a vote of confidence in the business, helping it to continue to innovate through further investment into its product and people. With its combination of expertise, technology, talent and track record to date, we are excited to have Immedis join our investment portfolio.”