HBAN (Halo Business Angel Network ), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, has announced that investors in its WxNW Syndicate along with Enterprise Ireland have invested €650,000 in Galway-based Ronspot Solutions. HBAN angel investors have contributed €400,000 to this funding round, while Enterprise Ireland has invested €250,000. Angels from HBAN’s Dublin, London and Singapore groups have also invested.
The funding is being used to add 13 new employees, as it more than trebles in size by 2022 in order to meet the growing market opportunity offered by the increase in blended remote and in-office working trend. Ronspot is adding to its research and development capability as it develops its office space booking system, allowing companies to save on their commercial real estate costs, by enabling employees to book the days they attend the office based on the availability of parking, desks, and lockers.
The company is also adding personnel in its sales, marketing and operations departments as it seeks to build upon successes building a strong customer base in Ireland, the UK, Austria, France, and the Czech Republic, and rolls services out in Sweden, Belgium and Germany.
Ronspot commenced life as a developer of parking space management solutions for enterprises across the pharmaceutical, utilities, aerospace and finance sectors. Its user-centric application aims to simplify workplace booking and office space and resource management by controlling and managing allocations in a fair and transparent manner. The application interface is designed to be intuitive and it provides companies and employees with up-to-date information on parking space vacancies, as well as desk and locker availability.
Ultan Faherty, HBAN Coordinator for the West Region said Ronspot has developed an application that can deliver far-reaching benefits for companies and employees across a wide range of industry verticals. The company’s value proposition has been particularly enticing to angel investors looking for high potential start-ups addressing new market challenges.
“As enterprises inevitably look to adjust their office space requirements in line with current remote working trends, they will require a robust workplace booking solution to allocate space and resources. Ronspot is perfectly poised to grasp this opportunity, and we wish the team every success as they continue to make great progress across European markets.”
Michael Furey, Ronspot Solutions Founder said: “In 2020, the working environment altered drastically and this trend will endure post-pandemic. The majority of companies are likely to adopt a hybrid blend of remote and office working. To cater to this emerging market need and opportunity that companies have to save on office costs, it is critically important that they can easily manage employee access to more limited office facilities.
“This investment round of investment will enable us to maintain our upward growth trajectory across Europe as we empower more companies to decrease their office property commitments without reducing employee numbers. HBAN has been a great support in helping us to find angel investors who can bring both finance and know-how as we expedite our growth plans.”
A joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, HBAN’s WxNW syndicate is part of the broader National HBAN network, granting angel investors access to the best cross-sectoral investment opportunities on the island of Ireland. HBAN West and the WxNW Syndicate are primarily interested in companies located in, or connected to, the West – providing mentorship, support and networking avenues for high-potential start-ups.
