COMMON to all companies with ambitions to grow their businesses is the need to raise development capital. While many manage to bootstrap during the startup stage, there comes a point for most when they simply have to reach beyond their circle of family and friends to raise more serious expansion investment. This week I caught up with Michael O’dwyer, ceo of awardwinning startup Swiftcomply, whose online compliance business recently secured some serious investments and investors.
MICHAEL O’dwyer set up Swiftcomply in 2016 along with co-founders, Lindsey Nguyen and David Gibbons. With eight full-time staff and an expected annual turnover this year of more than €1m, their online compliance business is creating quite a stir both here and in the US.
I first came across Michael having viewed the impressive Youtube clip of his investment pitch at the prestigious Techstars London accelerator programme in June of 2016 and met up with him and his team recently at the company’s headquarters on Dublin’s Francis Street.
“At first glance, our business doesn’t look all that sexy,” says Michael.
“But what we have done is create an innovative digital platform that connects those who run food and hospitality businesses with the services they require by law, from certified technical suppliers, to enable them to remain compliant with the regulations that govern their sector.
“Our unique differentiator is that we also link them directly into the regulators from the city council in a way that is more convenient and cost effective than was previously possible — and, most importantly, in a way that guarantees compliance.”
Focusing initially on services such as greasetrap cleaning and drainage line jetting, Michael and his colleagues plan to extend the range of services they cover to include everything from fire safety and buildings control regulations to food safety and environmental health — effectively becoming a one-stop shop solution provider.