The Dublin-based customer relationship management software company, eWare, in which telecoms entrepreneur, Mr Sean Melly, holds a significant minority stake, is about to close a $10 million (€10.6 million) funding round, The Irish Times has learned.
The company's workforce has trebled in the last six months to 50, and the company plans to expand in a number of markets, including the Republic, the UK, the Netherlands and the Middle East.
A spokesman for eWare would not confirm that the company is in the final stages of raising $10 million institutional funding through Goodbody Stockbrokers.
The company was founded by primary shareholders eWare chief executive officer, Mr Ivan McDonald, chief operating officer, Mr Alan Wyley, and sales and marketing director, Mr Greg Casey, after they met when developing call centre software with Point Information Systems in 1996.
It made a significant breakthrough in the customer relationship management (CRM) market late last year when it developed a wholly Internet-based platform that allows companies manage their customer relationships through any device capable of supporting an Internet browser.
It is understood eWare made a major impact this summer when it displayed its products at CRM 2000 in the UK in June. Since then the company is believed to have received a stream of job applications from employees of international CRM market leaders, Siebel Systems, Onyx and Pivotal Software.
eWare raised $2 million earlier this year from a group of private Irish investors closely connected with eWare founding investor and non-executive director, Mr Melly, and his business associates Mr Bernard Somers and Mr Liam Booth.
It was speculated late last year the company would raise $6 million in the US after eWare made a major impact among US-based venture capitalists and private investors during a Boston roadshow last summer. In the end the company opted to raise a smaller sum privately.
eWare designs the central, or hub, software at the core of CRM systems, which allows other software manufacturers integrate their products on top of eWare's software engine. It is understood eWare will use the new investment to increase its sales and marketing presence in all the locations where it has operations. The workforce is projected to increase to 100 by the end of this year.
AMR Research in the US has predicted the CRM market will grow from $1.2 billion in 1997 to $11.5 billion in 2002.
eWare customers include First Active and MCI WorldCom in Ireland. Its flagship product is customer management software based on a web browser interface aimed at companies with up to 100 employees.
The software can keep all staff within a company aware of customer orders, delivery schedules, and credit status regardless of staff location. Mr MacDonald previously developed the bestselling call centre software in Europe with Point Information Systems.
