A LIMERICK aviation software company has secured significant funding to enable it to double its current staff headcount.
Cloudcards, a company that provides software for the aviation industry, has secured €1.4 million of equity funding to expand their operations and double their staff numbers from 10 to 20.
Cloudcards offer a range of software solutions for aircraft owners, including Cloud Asset Management that allows those leasing aircrafts to manage all aspects of the asset online.
In addition to software solutions, Cloudcards provides technical services to airlines and lessors.
The €1.4 million funding brings to €5million the amount that the company have raised in capital since 2016.
Cloudcards currently manage an estimated €8billion of client assets, a figure that is projected to rise to €30billion in the next five years.
Bill Blake, CEO of Cloudcards. said that the recent investment would allow the company to remain at the forefront of aviation software development.
“Our focus will be on strengthening the software development team as well as evolving our product roadmap to deliver a comprehensive aviation platform for aircraft owners to cover all essential software
requirements for managing aviation assets.
“Over the coming 18 months, Cloudcards will bring to life the concept of a ‘One Aviation Platform’ software ecosystem, we aim to address all customer and industry requirements across the asset lifecycle, from asset purchase to retirement or sale,” Mr Blake said.
Cloudcards was founded by Limerick brothers Barry and Brian
Fitzgerald in 2013, and is based on Henry Street in Limerick City.
Approximately 55 per cent of the world’s commercial aircraft are leased with the vast majority either owned or managed by Irish entities, equating to 13,000 aircraft.
The aircraft leasing market contributes circa €1billion to the Irish economy and employs 10,000 people.
