Irish business Druid Software is positioning itself to be a global leader in 5G and 4G cellular core network technology.
Wicklow-born mobile software business Druid Software has raised $20m (€19.4m) in funding to help it to expand into new markets including shipping, defence and utilities.
The funding was co-led by leading national security venture capital fund, J2 Ventures as well as HICO, a preeminent maritime-focused investment group with significant participation from industry experts Arthur Patterson, the co-founder of Accel Partners, and serial telecom founder, John Georges.
“When we started Druid 24 years ago, we never dreamt our core network products would be so integral, but many also did not see the AI boom either”
Druid was founded 24 years ago by telecommunications veteran Liam Kenny in Bray, Ireland, the company now operates with offices in the US and in mission-critical deployments in over 35 countries and some of the most advanced enterprises in the world in healthcare, ports, manufacturing, warehouse and logistics, government, defence and Non-Terrestrial Networks.
Mobile magic: Druid is both profitable and growing rapidly
Druid has benefited as advances in handheld computing, IoT and connected equipment are growing exponentially with the demand for AI, but cellular technology to enable this connectivity has struggled to keep pace.
Founder and CEO Liam Kenny said there are very few independent companies that have the expertise to provide the infrastructure for the next generation of connected devices, and many of those rely on Druid to power their solutions.
“The last four years we have seen a surge in demand for our products in every major infrastructure category from healthcare to connected warehouses,” said Kenny.
“When we started Druid 24 years ago, we never dreamt our core network products would be so integral, but many also did not see the AI boom either, and as people want more computing in more things, it would appear you need one to enable the other.”
Druid’s solutions are designed to address the challenges faced by enterprises in maintaining reliable and secure mobile communications, especially in environments where traditional systems may not suffice.
Its RAEMIS technology platform also allows customers to create multiple distinct network zones with varying levels of speed and bandwidth.
The company has never taken nor did it need outside investor dollars.
“We’ve been looking at this space for years and there is really no non-publicly traded business that comes close to Druid’s performance, reach and efficiency – entities we thought were competitors turned out to actually be customers”, notes J2 Ventures Managing Partner, Alexander Harstrick.
“When we found Druid, we shifted our focus to convincing the company to take our money because they are already profitable and growing very fast” noted Harstrick.
“The entire investment is going towards the strategic interests of Druid to help them go even faster in places our group knows very well.”
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