Stratum software start-up takes €240k step into Britain

Software start-up Stratum has secured €240,000 in funding via the Irish Investment Network, a web-based platform for private equity investment.

The company, which has developed low-cost software for logistics and field services, will use the funding to boost sales in Ireland and Britain.

Stratum’s founder and chief executive Greg Kelly said it would create five new jobs in the next 12 to 18 months.

‘‘We expect this funding will allow us to grow beyond the Irish market and establish a solid footprint in Britain over the same period.

The investment is a key milestone in the business plan to grow Stratum into an international trading company," said Kelly.

Kelly established Stratum in 2008 and, following 12 months in development, launched its low-cost logistics and workforce management systems, with mobile applications and customer web portals, last year.

He described the company’s solutions, which were aimed initially at transport, freight, field service and engineering companies, as a configurable alternative to expensive custom built software.

‘‘Our customers usually struggle to find an off-the-shelf solution and don’t have the budget for a customised solution.

Stratum utilises a deferred revenue licence model, allowing our customers to get the solution they need for a fraction of the cost of traditional customised solutions," he said.

Components of the Stratum platform include job-booking functionality, scheduling, invoicing, account integration and document generation.

The system also uses mobile PDAs with additional options for customer web portals and mapping solutions.

URL : http://www.thepost.ie/themarket/stratum-software-startup-takes-240k-step-into-britain-50785.html