Dublin-based SwiftComply has been backed to the tune of $900,000, in a funding round led by Owen Van Natta, a former COO at Facebook.
Having tapped into a market to provide a regulation and compliance platform for various industries within a smart city, SwiftComply appears to be on the cusp of major growth.
According to The Irish Times, the company has just received financial backing worth $900,000 as part of its latest funding round, which will also create jobs at the company.
Leading the investment is former Facebook COO Owen Van Natta, who, as a founder and managing partner of the Silicon Valley investment firm 415, will join SwiftComply as a strategic adviser.
SwiftComply – led by Michael O’Dwyer – has experienced considerable growth since taking part in the Techstars programme in 2016, and joins other Irish start-up successes from the London-based accelerator, such as Aid:Tech.
Head of the Techstars operation in London, Max Kelly, was particularly impressed by SwiftComply and has also been included in this investment, by being appointed to the company board.
Expanding into US
SwiftComply said it will use the new funding to further develop its regulatory platform, which focuses particularly on connecting regulators with restaurants to allow them to update their compliance status on oil and grease disposal in real time.
To help facilitate its planned expansion into the US market, SwiftComply will hire six staff within the roles of software development and marketing at its Dublin office.
It also said that if all goes well, this number will increase in the near future.
“We are delighted to welcome an incredible group of investors to SwiftComply and look forward to leveraging their collective experience to help us grow our business,” said O’Dwyer.
Last summer, SwiftComply celebrated the fact that it and fellow Irish start-up GirlCrew finished with silver and bronze, respectively, at a pitch competition at the Startup Europe Summit in Berlin.