Irish web software firm TerminalFour has secured €1m in funding as it continues to expand its North American operations.

The bulk of the significant equity score was raised by TerminalFour through the Ulster Bank Diageo Venture Fund, with AIB Seed Capital Fund accounting for around 20% of the investment.

TerminalFour was founded by Piero Tintori in 1997 and started out as a general web agency.

The company launched its own content management system in 2001 and a few years later shifted its focus to tailored CMS for university websites.

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TerminalFour's titular CMS platform is currently used by more than 155 university and college clients to power in excess of 10,000 high education websites throughout the world.

Terminal Four has its global headquarters in Dublin and also operates offices in the UK, the US, Australia and New Zealand.

The company booked a small profit of €30,000 in 2013 but had retained losses of €727,000. Its net worth in 2013 was €839,000.

TerminalFour made losses of €634,000 in 2012, and between 2010 and 2013 received over €800,000 in state aid. In 2009, the firm raised €1.25m from the Ulster Bank Diageo Venture Fund and AIB Seed Capital Fund.

Earlier this month, TerminalFour announced that it was expanding its North American operations, recruiting 15 new positions in its US headquarters in Boston on the back of the successful launch of its new software.