Calculus injects £3.5m into Avvio

Avvio will use the fresh capital to invest in software development and to increase its marketing activity, particularly within the UK.

Calculus stated it was attracted to the deal by Avvio’s ability to directly host web bookings and its focus on client service.

The VC has made two other software deals this year, providing a £2m capital injection for Quai, a UK-based digital administration services provider; and investing £5m in Active Operations Management International, a UK-based software provider for workforce management.

Company
Founded in 2002 and headquartered in Limerick, Avvio is a provider of booking software, digital marketing and web design services to the European hotel industry. Its client base consists of 350 hotels and hotel groups in seven countries, including Ireland’s Dalata group. 

Its products aim to offer clients the ability to maximise direct web-sale revenue in competition with third-party online travel agencies. Avvio's software has processed transactions worth £10m to date. The company has additional offices in Dublin and London with a total headcount of 40. 

People
Richard Moore is an investment director at Calculus. Frank Reeves is CEO and founder of Avvio.

Advisers
Company – Princelet Partners, Stephen Moore (Corporate finance).

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