AMCS, a leading supplier of integrated software and vehicle technology for the resource management, waste collection and recycling industry, has announced the completion of a significant investment from Insight Venture Partners, New York, and Ireland Strategic Investment Fund (ISIF), Dublin.
The investment will be used for continued product development in AMCS’ suite of software as a service (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,” says Jimmy Martin, CEO and founder of AMCS. “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 nonexecutive directors.
“Since our initial investment in 2015, Insight Venture Partners has taken pride in the growth and success of the AMCS team,” says Menzies, who will assume the role of board chairman. “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, according to the company. AMCS experienced more than 50 percent growth in the adoption of its SaaS solutions by 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 says will open a new global headquarters at City East Plaza in Limerick, Ireland, in late summer 2018. The additional office space will support the AMCS’ continued expansion as it creates 100 new jobs in product development, sales and global customer support over the next three years.