Galway tech company Ronspot raises €1.1 million investment

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Pictured announcing that Furthr VC has led a €1.1M investment in Ronspot are: Richard Watson, Managing Partner, Furthr VC; and Michael Furey, CEO, Ronspot

Galway tech company Ronspot has raised €1.1 million in venture funding that will see it add ten new jobs, and continue to expand globally.

Ronspot is a software solution for offices and businesses that have adopted hybrid working, offering a three-in-one space management platform.

The cloud based application allows people to book car and bicycle parking, hot desks and meeting rooms, as well as manage visitor requirements and other resources including lockers.

The app allows users to see the availability of these resources in real-time, as well as the bookings of their colleagues.

The funding round was led by Furthr VC, with investment also coming from the Halo Business Angel Network (HBAN) and Enterprise Ireland.

Michael Furey, CEO of Ronspot said, “We are grateful to iHub at the Atlantic Technological University, in Galway for giving us a space to learn and grow.”

“The past 4 years have taught us a lot, but for me, I learned the importance of having a long-term plan with a well organised and motivated team.”

“For Ronspot, the customer really is king. And in order to manage and support our customers we need to be well resourced and staffed.”

Ronspot started out as a parking management solution in 2018, but evolved to include other aspects of a hybrid workplace over the years.

From initially having just two customers at that time, it now operates in more than 30 countries, with more than 200 customers globally.

Growing from a team of just three people initially, this latest round of investment will allow the company to add another 10 positions as it continues to expand, up to a workforce of 28 people.

The new roles, based in Galway and Dublin on a hybrid or remote basis, will be in the areas sales, marketing, customer success, data security and human resources.

The additional team members will help Ronspot to expand in new and existing markets, with the company currently aiming for a physical presence in Germany, France, Italy and Spain with the help of Enterprise Ireland.

Richard Watson, Managing Partner, Furthr VC, said; “Great companies can be born out of uncertain times and Ronspot is an example of this.”

“Early in the pandemic, the team recognised that the world of office work was changing forever and took the company in a new direction to take advantage of this.”

“We are excited to be leading this investment round and look forward to working closely with Ronspot’s leadership team as we prepare for strong international growth and ultimately delivering significant returns for our investors and other shareholders.”