Funds to be used to drive international growth as Netwatch targets new customer acquisition in the US & UK
The BDO Development Capital Fund is co-funding a €19.5million investment in Netwatch Group, Ireland’s leading Ireland’s leading high tech security specialists.
It is the largest funding round in Netwatch to date. The BDO Development Capital Fund is providing €9 million, the largest of its five investments so far, with Bank of Ireland providing €10.5million debt financing.
Netwatch was incorporated in Carlow in 2003 by co-founders and joint owners of the Company, David Walsh (CEO) and Niall Kelly (CTO).
Pictured at the announcement of a €19.5 million funding round for Netwatch, Ireland's leading high tech security specialists, are:
6 David Walsh - CEO, Netwatch, and; Andrew Bourg - Investment Director, Development Capital
The funding will be used to support Netwatch's international growth strategy. The €19.5 million is comprised of €9 million from BDO Development Capital Fund with Bank of Ireland providing €10.5 million in debt financing.
The funds will be used to support Netwatch’s international growth strategy. New customer acquisition in the US and the UK markets is a key aspect of the investment. As part of the Investment Sinead Heaney, Investment Director of Development Capital has joined the Netwatch Board. The project is also supported by the Department of Jobs, Enterprise and Innovation through Enterprise Ireland’s investment in the BDO Development Capital Fund.
Netwatch deploys the most advanced video processing technologies to proactively monitor and protect their clients’ assets. This involves installing high quality security cameras coupled with its intelligent software to detect suspicious events at its customer’s sites. Intervention Specialists direct operations remotely from the Netwatch Communication Hub, visually verifying the intruders and intervene as soon as security is breached by verbally alerting the intruders they are being watched with a personalised warning.
Netwatch is experiencing significant demand for its services in all of its active markets driven by: