White label mobile services platform provider Cubic Telecom has received a €500,000 investment from Enterprise Ireland to fund its international expansion. The feisty young company has created 10 new jobs in the last year.
Additional staff will be recruited over the next 12 months in a range of roles, including research and development, proposition development and international sales.
Planned developments for Cubic’s business include the opening of a US office, the continued expansion of its global mobile network and the launch of new flexible mobile data products.
Five-fold growth in monthly mobile voice revenues
Cubic Telecom’s global white label platform allows its partners to launch international mobile services globally in short periods of time.
The company is forecasting increased revenues on the back of strong export sales in Asia and Australia.
Since the start of 2011, Cubic has signed new international partners which have enabled a nine-fold growth in monthly mobile data revenues and a five-fold growth in monthly mobile voice revenues.
Cubic’s chief commercial officer Gerry McQuaid said the company had invested heavily in research and development over the past 18 months, focusing on ease of integration with a variety of international partners’ platforms and “always on” mobile connectivity without borders.
“We are continuously driving ease of use, allowing new partners to launch their services in shorter time periods and upgrading existing global partners to enable them to attack more revenue opportunities. The investment from Enterprise Ireland has helped us to maintain our innovation and engineering momentum and has also enabled us to leverage Enterprise Ireland’s extensive international connections.”
McQuaid said, “demand for Cubic Telecom’s services was increasing significantly, particularly outside Europe and the company expected to “double export revenues this year”.
Welcoming the announcement, Greg Treston, head of High Performance Start Ups at Enterprise Ireland, said: “Cubic is an example of an innovative Irish company that has spotted a massive global opportunity within the mobile communications space. Enterprise Ireland is delighted with the new business that Cubic is winning in Asia and Australia and we are continuing to support Cubic’s expansion into other international markets.”