Ireland-based cellular network software provider Druid Software has raised $20 million in strategic growth capital to accelerate its expansion into new sectors, including defence, shipping, and utilities. The funding round was co-led by J2 Ventures and maritime-focused investment group Hico, with participation from industry veteran Arthur Patterson, co-founder of Accel Partners.
Founded in 2000, Druid Software operates in over 35 countries, delivering advanced private 5G and 4G cellular network solutions tailored to enterprise and industrial clients. Its technology is widely used across sectors like healthcare, manufacturing, ports, governments, and defence.
“The last four years have witnessed a surge in demand for our products across major infrastructure categories, from healthcare to connected warehouses,” said Liam Kenny, Founder and CEO of Druid Software. He emphasized that the rise of AI and Internet of Things (IoT) applications has driven exponential growth in handheld computing and connectivity needs, highlighting the critical role Druid’s cellular solutions play in enabling these advancements.
The company’s private network solutions address a growing gap in cellular technology performance as AI and IoT drive increased connectivity demands. “When we started Druid 24 years ago, we never imagined our core network products would become so integral,” Kenny added.
J2 Ventures Managing Partner Alexander Harstrick praised Druid’s leadership in the space, stating, “We’ve been following this sector for years, and no other privately-held company matches Druid’s efficiency, reach, and performance. Our focus is to help them accelerate growth in areas where we bring strategic expertise.”
This funding will enable Druid to expand its reach into key industries and bolster its capabilities to meet growing demand. The investment will also support its ongoing profitability and fast-paced growth trajectory.
Druid Software has received notable recognition for its technological innovations. The company was recently shortlisted for the 2024 Technology Ireland Awards in the categories of Digital Technology Company of the Year and Technology Innovation of the Year.
In 2019, Druid made headlines with a deal to provide 4G LTE coverage for drones and body-worn cameras for first responders in the UK, further demonstrating its versatility and focus on critical applications.
“The entire investment is directed toward Druid’s strategic growth goals,” Harstrick noted, adding that the funding aims to amplify the company’s presence in sectors like defence and utilities, where secure and efficient connectivity is paramount.
With the infusion of capital, Druid Software is well-positioned to strengthen its foothold in high-demand markets, paving the way for its next phase of growth and innovation.
Discover more from FundingBlogger
Subscribe to get the latest posts sent to your email.