Irish software firm Ocuco raises €60m to explore M&A options

18 Aug 2023

Image: © absolut/

The tech company has customers in 88 countries and is focused on growing faster and expanding its services through new acquisitions.

Irish tech company Ocuco has raised €60m to boost its growth momentum and explore potential acquisitions.

The equity came from Accel-KKR, a global technology-focused investment firm that has invested in more than 350 companies to date, with $19bn in capital commitments. The firm’s MD, David Cusimano, said the investment aligns with its strategy of backing “market-leading, mission-critical software companies”.

Ocuco is a technology company that provides software to global eyecare manufacturers. It has customers in 88 countries with a large portion of its sales coming from North America.

The Irish company said new online approaches are increasing the complexity for eyecare practitioners to manage and integrate online and in-store retail and clinical systems. Ocuco claims its product – the Acuitas 3 OmniChannel Edition – creates a “seamless user and customer experience”.

The company was founded in 1993 and has developed a range of omnichannel software offerings, including practice management software, laboratory management systems and e-commerce services.

Ocuco CEO and founder Leo Mac Canna expressed excitement at the latest funding and said Accel-KKR has a proven track record “in scaling vertical SaaS companies in the US and globally”.

“Accel-KKR’s investment is not only a testament to our strong performance but a powerful endorsement that enhances our financial standing,” Mac Canna said. “We are well positioned to serve the full range of eyecare practices from independents to global chains that require a partner with the ability to deliver at scale.

“We are poised for accelerated growth, and Accel-KKR’s investment will undoubtedly propel our M&A strategy, allowing us to continue innovating and expanding our offerings.”

The latest funding comes two years after Ocuco raised €40m in refinancing to expand its products and grow its team. €15m of this funding came from the Ireland Strategic Investment Fund, along with a €25m extension of its facilities with Wells Fargo’s technology finance division.

Ocuco has more than 350 staff in the US, Canada, Ireland, the UK, Italy, Sweden, Norway, the Netherlands, Belgium and China.

10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.

Leigh Mc Gowran is a journalist with Silicon Republic