Cloud computing start-up SourceDogg.com has closed a €600,000 investment round with Nucleus Venture Partners which will allow it to double its workforce to 24 in the next 12 months.
Engineer Mark Scanlon and former Irish international basketball player John Quigley founded the Galway-based company in 2009. They received funding from Dublin City Enterprise Board during the firm’s initial growth phase.
SourceDogg.com has developed a solution which allows users to find and evaluate new suppliers with an easy-to-use approach to quotations, tenders and other aspects of the procurement process.
The investment funding will be used for the creation of new roles in technical development, online marketing and international sales at SourceDogg.com offices in Galway and Dublin. Scanlon said the first eight positions would be filled by the start of next year.
With several high-profile public and private-sector clients in Ireland, including the Irish Blood Transfusion Service, Bord Bia and Bewley’s already under its belt, SourceDogg.com is investing significantly in overseas markets and already has clients in five countries.
Chief operations officer Scanlon has ambitious plans for the company. “Our stated goal is to become the largest sourcing software provider globally by 2014. We’re hitting our interim growth targets and this funding will allow us to continue our expansion as planned,” he said.