A young cloud technology company focused heavily on helping universities and colleges to transform complex back office activities into online services has raised €1.2m worth of investment that will help it expand its workforce to 45 people.
Campus IT forecasts revenue growth from €3.5m in 2010 to €5m by 2013.
The investment comes from multiple sources, including the BDO-managed Davy BES fund and Enterprise Ireland.
The growth engine will be a new cloud-based software platform for managing online and mobile student interactions throughout the student life cycle.
CampusIT is also expanding beyond the Irish and UK markets, which currently deliver 20pc and 80pc of its business respectively. It is exploring new EMEA markets that offer high-potential sales growth.
“Higher-education institutes operate in a more competitive environment where their brand image is important,” Tony Sheridan, CEO of Campus IT, said.
“They, like other service-based enterprises, are measured against the Amazons, Facebooks and Kindles when it comes to assessing service convenience and quality. CampusIT Interact is our response to this compelling market driver.
“The value created and costs saved by this unique, web-based platform make this a very compelling product which we expect to spearhead a large part of our forecast international growth.
“We expect CampusIT Interact to gain traction because of the unique way it enables higher-education customers to simplify their student interactions. Its value is realised when frontline staff can configure and deploy new online and mobile student services without the need for IT intervention or specialised training. The result is a faster time to market with more convenient services.”
Integration with cloud apps
CampusIT Interact is an online and mobile platform that allows business users to configure and deliver web-based, student-centric services using simple-to-learn methods, or by editing pre-built applications from CampusIT. It provides a rich capability to leverage and integrate with existing applications and web apps, like Google Maps or Google Calendar.
“CampusIT has built up an excellent niche market in the higher-education institutes sector,” Jennifer Condon, Enterprise Ireland’s head of software, explained.
“The company is highly proactive, constantly looking at customers requirements’ and offering a top quality service to their customer base. Enterprise Ireland is delighted to be working closely with this company and look forward to new developments to come on stream.”
The announcement was made today at the EUNIS (European University Information Systems) international IT congress being held in Trinity College Dublin for about 300 third-level institute representatives.
Photo: Tony Sheridan, CEO of Campus IT