AMCS, a leading supplier of integrated software and vehicle technology for the resource management, waste collection and recycling industry, announced the completion of a significant investment from Insight Venture Partners and Ireland Strategic Investment Fund (ISIF).
The investment will be used for continued product innovation in AMCS’ suite of SaaS products and related technologies to further accelerate the company’s growth in North America, Europe and Australasia and to expand AMCS’ SaaS Platform into adjacent vertical markets.
“Today’s announcement represents a major milestone for AMCS,” said Jimmy Martin, CEO and founder of AMCS, in a statement. “In addition to providing capital that will enable us to continue to grow and innovate for our customers, this further investment by two of our long-term strategic partners demonstrates their confidence in our business, strategy and team. This confidence is reflected in our plans to further roll out the most comprehensive cloud-based SaaS platform for the resource management, waste collection and recycling markets.”
Under the terms of the funding, Euan Menzies, senior advisor at Insight Venture Partners; Henry Frankievich, vice president at Insight Venture Partners; and Robert Schnittger, investment director at ISIF, will serve on the AMCS Board as non-executive directors.
“Since our initial investment in 2015, Insight Venture Partners has taken pride in the growth and success of the AMCS team,” said Menzies, who will assume the role of board chairman, in a statement. “As the clear leader in technology solutions for the recycling and waste management communities, AMCS has continued to establish their stake in the ground across geographies. We look forward to their continued international growth.”
The investment comes as AMCS closed out a record 2017. AMCS experienced more than 50 percent growth in the adoption of its SaaS solutions by some of the world’s most successful operators in waste collection and recycling and announced the completion of its acquisition of Brady Recycling Solutions. To accommodate AMCS’ rapid growth, the company will be opening a new global headquarters at City East Plaza, Limerick, Ireland, in late summer. The additional office space will support the company’s continued expansion as it creates 100 new jobs in product development, sales and global customer support over the next three years.
“We’re delighted to invest in AMCS again and support their continued development as a global software business,” said Fergal McAleavey, head of private equity at ISIF, in a statement. “This new investment will help to create and sustain up to 100 jobs and deliver a new global headquarters in Ireland’s mid-west. It is an excellent example of a high-quality investment that fits ISIF’s ‘double bottom line’ mandate of generating a commercial return and supporting economic activity and employment in Ireland.”