Galway start-up Channel Mechanics secures $2.3m funding

18 Dec 2015

The quadrangle at NUI Galway, via Eoin Gardiner on Flickr

Galway-based cloud management company Channel Mechanics has raised $2.3m in angel funding to help expand operations in Ireland as well as the US.

A client company of NUI Galway, Channel Mechanics develops cloud-based services, such as its channel enabled SaaS called channelIT.

Through this it raised $2.3m from the likes of Enterprise Ireland, Konstantin Sidorov from RRC Business Telecommunications and Karl Flannery from Knowledge Transfer Ireland.

With a HQ in the Research and Innovation Centre at NUI Galway, Channel Mechanics has offices in Ireland, the UK and the US, with the latter base “the highest priority” according to CEO Kenneth Fox.

“We are excited by the growth opportunities in the global market and believe we have the potential to become a very large international success story,” he said.

“With our global headquarters in Galway, the funding will drive employment and expertise in this key market area. The associated benefits which would accrue to Galway and surrounding regions are significant.”

Channel Mechanics only brought out channelIT a few weeks back, aiming to help customers combine their marketing and sales offerings.

“If you look at the channel and how relationships between each component operate, the potential for innovation is truly astronomical,” said Konstantin Sidorov, lead investor for the round.

“By using this platform to optimise operations and activities within the channel, enterprises win on all sides by identifying and eliminating ineffective marketing programs and tailoring existing and new ones to produce even better results.”

The quadrangle at NUI Galway, via Eoin Gardiner on Flickr

Gordon Hunt was a journalist with Silicon Republic