Dublin software marketing firm Swrve raises $30m in new funding


The mobile marketing software firm, Swrve, has raised an additional $30m in its second fund raising round in just over one year.

It now plans to double its Dublin-based engineering workforce to 90 employees.

Swrve’s software takes signals relating to consumers’ mobile activity, including their real time physical environment, and enables its 150 brand customers to engage with those consumers immediately via their apps to encourage them to shop.

"We provide a platform to allow brands to communicate directly and a very affective and contextual way with the end user [of mobile devices]," co-founder Steve Collins told Breakfast Business.

This round of funding is being led by Evolution Media and the Irish Strategic Investment Fund (ISIF). Existing investors, Atlantic Bridge and Acero Capital are also involved.

The company recently announced that it has passed the landmark of 1 billion installs of its development kit. It currently monitors over 3 billion transactions everyday, made by more than 750 million customers.

When asked if this second successful round of funding in just over 12 months indicates that an IPO may be around the corner - Steve Collins replied that an "IPO is certainly something that is on the cards," but refused to be drawn on when the company would consider doing so.

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