Mesh announces completion of €1.55m seed round
Mesh announces completion of €1.55m seed round. (From left to right - Niall McEvoy - Venture Partner @ Elkstone, Ralph Casey - CTO @ Mesh, Neale Richmond - Minister of State for Employment Affairs and Retail Business, Brian Byrne - CEO @ Mesh, Leo Clancy - CEO @ Enterprise Ireland)
Dublin, June 18th, 2023 – Dublin-based Mesh, the world’s first provider of email security solutions built exclusively for Managed Service Providers (MSPs), today announced that the company has raised €1.55 million in seed stage funding. The funding round was led by Elkstone, and backed by Enterprise Ireland.
This significant injection of capital will enable Mesh to further develop its unique email security platform and expand its global presence, with the creation of 40 new jobs over the next four years. 75 per cent of the new jobs will be based in Ireland across multiple disciplines such as sales and marketing, customer support, and product development. The funds raised will also be allocated towards critical areas such as research and development, talent acquisition, and market expansion.
Founded in 2020 by Brian Byrne, Ralph Casey and Daimhin Kavanagh, Mesh protects organisations against the full spectrum of email threats, including business email compromise, ransomware, and spear-phishing. In January 2022, Mesh became the first email security provider to be certified as carbon neutral.
Minister of State for Employment Affairs and Retail Business, Neale Richmond, said: “I want to commend the team at Mesh on its recent successful funding round. I know that Mesh has significant growth plans and global ambition to enhance its truly impressive offering and to scale its talented team. Cyber security is at the top of businesses’ agendas here in Ireland and further afield and Mesh are leading the way in providing tangible solutions against serious cyber threats to companies.”
Brian Byrne, CEO and Co - Founder, Mesh said: "We are delighted to have secured this significant investment, which reflects the confidence placed in us by Elkstone and Enterprise Ireland, as we strive to become the leading email security provider for MSPs. This funding will accelerate our product development roadmap, facilitate customer base expansion, attract top-tier talent, and reinforce our commitment to providing an email security platform that MSPs love."
Niall McEvoy, Venture Partner at Elkstone stated: “We see Mesh as a company with an impressive founding team and really tight founder market fit. With strong early-stage commercial traction already evidenced, the team has built an excellent foundation to drive accelerated growth across global markets. We look forward to supporting the team as they grow and scale the business.”
Enterprise Ireland CEO Leo Clancy said: “At Enterprise Ireland we are acutely aware of the cyber security challenges that face the global business world and have been proud to support Mesh on their scaling journey. The company has made great progress in a short space of time to develop a market-ready and proven tech stack, and has already achieved significant market traction for its innovative product offering. We look forward to continuing to support the team at Mesh in delivering accelerated growth across global markets.”
As cyber threats continue to grow in sophistication, email remains the top attack vector. Mesh stands at the forefront, offering comprehensive protection for MSPs and their clients. Already making significant strides in the market, Mesh serves over two thousand organisations worldwide. The additional funding will enable the company to build upon its existing success and solidify its position as a leader in the email security space for managed service providers.
Mesh will be attending Kaseya DattoCon in Dublin’s Convention Centre from 26 – 28 June. Kaseya DattoCon is a major global event that offers companies and industry the opportunity to learn about the most powerful IT service solutions to date and gain technical insights from industry experts.
Mesh has been advised by Flynn O’Driscoll and SGL Corporate Finance.
About Mesh
Mesh is the world's first email security platform built exclusively for managed service providers, empowering them to deploy, protect, and manage their clients more efficiently. With a focus on innovation, advanced detection techniques, and exceptional customer service, Mesh is revolutionising how MSPs deliver email security to their clients.
About Elkstone
Elkstone is Ireland’s leading early-stage venture investor, with a strategy of backing exceptional founders with the passion and grit to build category defining global companies. Elkstone’s mission is to nurture a vibrant venture ecosystem and the broader economic and societal benefits this brings. The Elkstone Ireland Venture Fund €100m fund is the largest seed stage fund in the Irish market.
About Enterprise Ireland
Enterprise Ireland is the Irish government organisation responsible for the development and growth of Irish enterprises in world markets. The organisation works in partnership with Irish enterprises to help them start, grow, innovate and win export sales in global markets. In this way, Enterprise Ireland supports sustainable economic growth and regional development, and help create and sustain employment in Ireland.