iCabbi plans to create 20 new jobs in 2016 after doubling the workforce in 2015. The jobs will be in Research and Development, Customer Service, Sales and Marketing and Technical Support.

The company, established in 2011, has received €250,000 in taxpayer funding through Enterprise Ireland. Private equity investment in the venture stood at €600,000 in September 2014, according to the annual return for the operating company, Coolnagour Ltd. In addition, the company has been funded with loan notes.

Gavan Walsh, co-founder and CEO of iCabbi, said: “2015 has been an incredible year for iCabbi. We are now the largest dispatch provider in Ireland, and significantly grew our UK business during 2015, working closely with the largest and most successful taxi companies, and consolidators. We have also recently launched in the US, with 13 companies currently live, and many more scheduled for the new year.”

iCabbi provides taxi companies with a platform to compete against peer to peer apps like Uber and Hailo. It claims to be the most advanced cloud based dispatch system in the world.

The company booked a loss of €510,000 in 2013, bringing losses through the startup period to €1,070,000. There was a deficiency of assets of €469,000 in the balance sheet at end December 2013.

In Association with

Backers include the AIB Seed Capital Fund. AIB holds personal guarantees over the company directors to the sum of €630,000.

Besides Walsh, the private investors in the venture are directors Niall O’Callaghan and Robert Nixon, and shareholders John Beckett, John Walsh, John O’Callaghan, Declan O’Donnell, Albert Carroll and Noel Greene.

Welcoming the expansion announcement, jobs minister Richard Bruton said: “iCabbi is an example of an innovative Irish company achieving success as they internationalise their business. The announcement of 20 new jobs in Dublin is a great boost to the company, and I wish them every success as they continue to grow their business.”