Dublin-based building-tech company IFS raises €2m

29 Apr 2021

From left: Sinead Heaney, BDO; James Doody, IBI Corporate Finance; and IFS co-founders Kieran Beggan and George Harold. Image: Robbie Reynolds Photography

The multimillion-euro investment will aid Integrated Facilities Solutions’ expansion plans into new markets in Europe and the US.

Integrated Facilities Solutions (IFS), which provides digital applications for building construction and management teams, has raised €2m in funding.

The Dublin-based company received the funding through the Davy EIIS Fund, an employment and investment incentive scheme managed by BDO on behalf of investors.

IFS will use the funds to support its growth and expansion into targeted markets in Europe and the US.

The expansion will also create 100 new jobs across Ireland, Europe and the US by 2024. The company currently employs 16 staff at its Blanchardstown office.

IFS builds cloud-based applications to facilitate the whole building and asset life cycle. Its services have been implemented on sites such as the Aviva Stadium, Croke Park and Dundrum Town Centre.

The company was founded 22 years ago by George Harold and Kieran Beggan, who were both graduates of Dublin Institute of Technology and saw a gap in the market with the construction handover to building owners.

Harold said this was particularly true in relation to how information was traditionally provided in hard-copy format to clients at the end of the build.

The new funding represents an important milestone for the business, according to Beggan.

“Our technology platform and expertise support digital project delivery through to operations and [facility management], and we are currently extending our footprint in rapidly growing sectors that have seen accelerated growth despite challenges presented by the pandemic,” he said.

“This funding will enhance our executive team and expertise as will our capability to drive customer success and acquisition in European and US markets.”

Sinead Heaney, a partner at BDO Ireland, added that the investment will allow IFS to accelerate growth in new and existing markets.

“The team’s pioneering digital approach to building life cycle management has delivered significant growth with blue-chip customers in Ireland, UK, Europe and the US,” she said.

“We are delighted to be on board to assist the business achieve its ambitious plans in the coming years.” 

Jenny Darmody is the editor of Silicon Republic