Blueface Goes International with €10M Investment
Like the old saying goes, “When life gives you lemons, make lemonade.” That’s great advice, but what do you do when life actually does you a favor and gives you €10 million? That’s the question Blueface, a unified communications as a Service (UCaaS) provider, is currently asking itself thanks to BDO Development Capital Fund’s generous contribution.
According to the announcement, “The project is supported by the Department of Jobs, Enterprise and Innovation through Enterprise Ireland’s investment in the BDO Development Capital Fund which provides development and growth capital for established, mid-sized and profitable Irish companies to assist them to achieve and accelerate their export-led growth plans.”
Although the investment was only announced today, Blueface is already sharing some of its plans on how to use the money. First and foremost, the company is planning on using the funds to launch itself into the international market. It’s doing well so far locally, and wants to bring its company to the next level by going global. Blueface already has over 50 skilled employees working in its headquarters in Dublin, but it would like to increase this number to 130 by 2022 across its markets in Ireland, Europe and the U.S.
The BDO Development Capital Fund already did Blueface a huge favor by enabling it to pursue its international expansion goals. However, it’s funding will also allow Blueface to take full advantage of the increasing popularity of cloud communications. With more and more people looking to move to the cloud in all ways, customers and businesses are constantly searching for reliable solutions that will allow them to do so. Blueface’s proprietary cloud voice platform already services business customers of all sizes, ranging from SMBs to large multinational enterprises. Since Blueface now has the potential to go international, it can make its cloud solution even more widely known. With any luck, its cloud solution will soon become a popular option not just in Ireland, but the U.S. and Europe as well.
It seems like the BDO Development Capital Fund is Blueface’s fairy godmother in this situation, answering all of its wishes with a few million Euros. Head of Investments of the BDO Development Capital Fund, Andrew Bourg, certainly sounded excited when he announced the investment, saying, “The BDO Development Capital Fund is delighted to announce details of this significant investment in a highly ambitious Company and management team. We are backing Blueface’s goal of becoming a significant international player in its chosen market segments with the objective that this sizable investment in conjunction with the support of our Funding Partners will drive, exploit and maximize Blueface’s international growth opportunities.”
Enterprise Ireland CEO, Julie Sinnamon added, “Enterprise Ireland has worked closely with Blueface over the last 10 years to support their growth journey and build a strong international customer base. This innovative and ambitious company has grown from strength-to-strength with further plans for recruitment and R&D development here in Ireland. Enterprise Ireland will continue to work closely with Blueface as they expand their global market reach, and we wish them continued success for the future.”
Wishing you the luck of the Irish in your international endeavors, Blueface.