Limerick-based software player AMCS, which focuses on ERP and SaaS software for the global waste and recycling industry, raised €45m this week in a new investment round led by New York VC Insight Venture Partners and the Ireland Strategic Investment Fund.
The investment will fuel AMCS’s global expansion into the high-growth waste, material processing and transport sectors.
As part of the investment, Insight’s managing director Euan Menzies will join AMCS’s board of directors.
“This investment by Insight and ISIF will allow us to accelerate our product development and international growth as we help drive maximum value for our customers by providing them with software solutions and critical data to create efficiency and scalability,” said AMCS chief executive Jimmy Martin.
Following a major €23.5m investment from Highland and Investec Ventures in early 2014, AMCS has completed a number of major acquisitions, including of the US market leader PC Scale and Danish-based route planning and optimisation systems provider Transvision.
AMCS, which employs 130 staff worldwide (50 in Limerick), plans to double its staff within three years, including 40 new employees in Ireland.
The company has several hundred customers in the rapidly-growing waste management sector.
“AMCS is the clear leader in a large, global market that is accelerating its adoption of integrated waste and recycling software and technology solutions,” Euan Mezies from Insight said.
Waste management image via Shutterstock