Niall McEvoy, co-founder of Beamax Ltd, the company behind team management app Teamer, is a senior adviser to high-potential startups for Enterprise Ireland. One of the things he teaches is how to raise funds, and he can point to his own company as evidence of his know-how.
In October 2015, Beamax Ltd secured €309,000 from EII investors as part of a €660,000 funding round. Now the company has raised a further €2,127,000 from UIL Ltd in Bermuda, Paul McArdle, Cyril McGuire, Middlefield Investments and clients of Davy. Most of the cash - €1.95m – came from UIL.
Beamax’s accounts filings for 2014 show that equity invested of €2.4m, of which about €774,000 came from BES/EII investors. That was topped up with another €1m through 2015, including the €309,000 secured via the EII scheme.
Teamer’s online platform and app allows clubs, teams, schools and other groups to organise and collect payments. The service also allows users to send out target notifications for team players, get feedback on availability etc.
The company claims to have over two million members and its system is used by Celtic Football Club, amongst other high-profile sports outfits.
In Association with
Teamer’s founders are Ken Moulton and CEO Niall McEvoy; the firm’s other director is Owen Murphy. McEvoy worked in the scaling division with Enterprise Ireland for 20 years prior to launching Teamer, while Moulton came from a background in IT.
In 2014, Beamax Ltd when it booked a loss of €560,000, bringing accumulated losses to €3.3m. The company finished the year with a net deficit of €879,000.
The company’s early backers included Kernel Capital and Bank of Ireland. They invested €350,000 in 2010 as part of a €500,000 funding round, the remainder of which was provided by BES investors.
In November 2015, Teamer announced that it had acquired Club Website, a UK-based football club and league website provider. The company was bought in a cash-and-equity deal that sees Club Website’s founders join Teamer as shareholders.
Beamax/Teamer’s accountants are Donohoe Flanagan Reddy in Carlow and the firm takes legal counsel on its fundraising from ByrneWallace.
Photo: Niall McEvoy (right) in 2010 with investor Orla Rimmington of Kernel Capital and Bernard Jackman
