Immedis is part of Terry Clune’s Dublin and Kilkenny Taxback Group.
Immedis, a specialist provider of enterprise technology solutions for global payroll and mobility tax services to multinationals, is creating 200 new jobs and aims to have them filled by 2020.
The company, which started with just 10 employees in 2016, now employs more than 170 people. Immedis has offices in Dublin, Kilkenny, New Jersey, Sydney and Varna.
‘Our investment is a vote of confidence in the business, helping it to continue to innovate through further investment in its product and its people’
– KEITH DAVIDSON
The expansion is being enabled through an investment from Scottish Equity Partners (SEP) of €25m.
“We are delighted to be partnering with SEP,” Immedis CEO Ruairi Kelleher said. “Its 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 and deep international tax knowledge that puts our platform to the fore of the global payroll landscape.”
Part of Terry Clune’s Taxback Group, Immedis has emerged as one of the most rapidly scaling indigenous companies in the Irish fintech sector. The company claims to have a unique focus on a proprietary cloud-based solution that simplifies the management and reporting of global payroll, coupled with on-the-ground teams of tax experts providing customer service across payroll and employment tax advisory.
According to a 2018 Research and Market report, the global payroll and HR market is estimated to be worth more than $43bn globally.
Using the Immedis iConnect platform, clients of the company can ensure a fully tax- and data-compliant service in more than 130 countries worldwide. As well as an easily accessible and user-friendly platform, the company’s teams of tax experts provide the human touch needed to resolve global payroll queries.
Over the past 24 months, Immedis has grown rapidly and announced a $10m acquisition of US international payroll company Expaticore in 2017. Clients have grown to include Uber, Wayfair, First Derivatives, NYIT, DCC and AbbVie.
“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, partner at SEP.
“Our investment is a vote of confidence in the business, helping it to continue to innovate through further investment in its product and its people. With its combination of expertise, technology, talent and track record to date, we are excited to have Immedis join our investment portfolio.”
Updated, 9.01am, 10 June 2019: This article was updated to clarify that SEP invested €25m in Immedis.