A €1m investment, including a €300,000 backing from Enterprise Ireland, is part of the Dublin-based tech company’s planned expansion.
It is hiring for technology, customer service, and sales and marketing roles and plans to further expand across Europe and the US next year.
Founder Tony Corrigan explained the company’s ethos: “Essentially, we simplify Government contracting opportunities for small and medium businesses, saving them time trawling through tender alert lists and figuring out their likelihood of winning the contract.”
The core problem TenderScout solves, according to Mr Corrigan, is that globally SMEs are missing out on revenues from the public procurement market worth $13 Trillion.
“Around 90% of SMEs don’t participate at all in public tendering because they lack the expertise to compete and decide it’s too hard or time-consuming and generally inaccessible to small business”, he said.
The Irish company gives SMEs the ability to participate in public tenders, regardless of their scale or tendering expertise.
Niall McEvoy, High Potential Start-ups, Enterprise Ireland, says it supports innovative Irish companies like TenderScout that have real potential to realize their global ambition by expanding into new markets and growing business.
“TenderScout is an excellent example of an indigenous company that has identified a need within the SME sector and addressed it effectively. Enterprise Ireland has worked with Tenderscout since 2014, and we look forward to supporting to them through their next phase of growth.”