STRENCOM, A data network and cloud computing provider, has made a further €750,000 investment in the company to support its international growth.
The latest round includes €500,000 raised through the Business Expansion Scheme. Strencom also announced seven new jobs as part of the expansion, with three of those positions already filled.
Cloud computing is internet-based computing, whereby shared resources, software and information are provided to computers and other devices on demand, like electricity.
Strencom’s founder and chief executive Tim Murphy said the investment would be used to fund infrastructure, technology, logistics and staff training.
To support its growth into the UK market, Strencom has opened an office near London. The company already has customers there. Mr Murphy said UK business accounted for about 25 per cent of the company’s revenues.
The latest funding follows an additional €500,000 the company invested in its cloud computing business this June. This was spent on infrastructure to allow Strencom to provide a cloud computing service along with its wide area network capability.
Mr Murphy said this would allow organisations to access their data securely over a dedicated connection to a “private cloud”, where information cannot be accessed by another third party.
The combination of these services would help alleviate fears over the security of data in cloud computing, he said.
Strencom has already demonstrated its cloud infrastructure to some healthcare firms in the UK and Italy. Mr Murphy said he expected the cloud business eventually to bring in up to 35 per cent of revenues for the company.
Strencom’s Irish customers include Qumas Software, Dolmen Stockbrokers, Right Price Tiles, Beamish Crawford, Tyco, Meteor and Gamestop.
As part of its international push, the company, founded 10 years ago, recently signed strategic partnership agreements with six European telecoms operators including Carphone Warehouse, France Telecom, Opal and Deutsche Telekom.
Opal is a member of the TalkTalk Group and the third-largest UK communications network operator. Through Strencom, it is now able to set up customers’ internet protocol virtual private networks in Ireland, allowing sites here to connect with corporate networks in Britain.
