Scottish Equity Partners (SEP) said on Monday it has completed a €25 million investment in Immedis, a specialist provider of enterprise technology services for global payroll and mobility tax services to multinationals.
Immedis, based in Dublin, has developed an innovative global payroll technology solution, iConnect, using robotic process automation, AI and powerful data visualisation.
The company has 175 employees and ambitious plans to increase headcount further, with over 200 new roles planned over the next 18 months, making it one of the most rapidly scaling indigenous companies in Ireland’s financial technology sector.
Funding from SEP will enable Immedis to expand into new markets across the US, EMEA and Asia-Pacific regions.
“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” said Keith Davidson, a partner at SEP.
“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.”
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 and put our platform at the forefront of the global payroll landscape.”