Immedis, an enterprise solution developer for payroll and mobility tax services, has received a €25m strategic investment from Scottish Equity Partners.
Having closed the round, the company will look to increase its international expansion efforts, add another 200 jobs of the next 18 months, and increase its R&D efforts. Growth plans will Immedis move across the US, EMEA and APAC markets.
Founded in 2016, the company started with a team of 10 and now boosts a 170 strong staff base. New jobs will be added to tax, compliance, IT, software development, marketing, finance, and sales teams.
Ireland-headquartered Immedis is a payroll and tax software developer which supports companies in more than 130 countries. Its global payroll tools help to streamline operations and simplify reporting tasks.
To support tax compliance, the company gives teams tools to monitor employee tax briefings, social security applications, tax applications to authorities, company policy documents, and tax returns.
Immedis CEO Ruairi Kelleher said, “We are delighted to be partnering with SEP. 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.
“This external validation proves that we are making significant inroads into the global market and doing so in a compelling and sustainable manner. We are delighted to announce the creation of new roles across all areas of the business to ensure our position at the leading edge of our industry whilst maintaining the highest standards that underpin what Immedis represents.”
Prior to this funding round, Immedis acquired the US international payroll firm Expaticore for $10m. The acquisition was made to bolster its capabilities within the payroll ecosystem and add 150 new jobs in Ireland over a three-year period.
Copyright © 2018 RegTech Analyst
