Immedis secures €25m for payroll and tax tech
Immedis, a provider of enterprise technology solutions for global payroll and mobility tax services, has secured €25 million in investment from Scottish Equity Partners (SEP).
The investor, SEP, is a venture capital and growth equity firm backed by blue chip international investors including the Ireland Strategic Investment Fund.
According to the firm, this investment will be dedicated to further international expansion into new markets, the creation of over 200 new jobs in the next 18 months, and R&D into new technology solutions.
Immedis, part of Terry Clune’s financial technology company, Taxback Group, has grown rapidly thanks to its payroll technology solution, iConnect, based around robotic process automation, AI and powerful data visualisation.
Clients have grown to include Uber, Wayfair, First Derivatives, NYIT, and DCC. This investment will see Immedis expand into markets across the US, EMEA and APAC.
CEO, Ruairi Kelleher, says: “their investment and experience of scaling technology companies will help us further execute on our ambition to be the best in the world, continuing to balance our market leading technology with deep international tax knowledge that puts our platform to the fore of the global payroll landscape.”
Over the past 24 months the company has grown from ten employees in 2016 to over 170 people to-date. The company has ambitious plans to increase headcount further, with over 200 new roles planned over the next 18 months. The roles will include experts in tax, compliance, IT, software development, marketing, finance, and sales.