EMEX was founded by Richard Wall and Simon Kelly in 2011, driven by their combined vision to modernise and digitise workplace operations for companies, organizations and their employees. The initial vision was to bring software systems that were previously only available to large corporations to every company through new cloud computing infrastructure. Movement to the cloud brought a strong potential new customer base into the software marketplace seeking tools to modernise and digitise their business process around Environmental, Health and Safety (EHS) management.
The transformation of software from individual computers to the cloud offered a once-in-a-generation platform change for the entire software industry, and Richard and Simon founded EMEX to develop solutions to help drive this change. This trend is now continuing through the global adoption of smartphone mobile software systems and the new explosion in wearable technologies.
Key Customer Wins 2015 – 2019 Modon, Seplat, Coesia, Irish Life, Eneo, Carus, Wienerberger, Premier Foods, Cube Hydro, Hanover County, Holcim, Ophir, Hutchenson Ports, City of Austin, Holcim ESG, Sky, Applegreen, Glenveagh, Ikea (Middle East), Dangote, Ferrexpo, Glencore (USA), Titan Cement, Paul Construction
EMEX developed a cloud based modular application to meet the needs of customers and to enable the effective and efficient management of EHS reporting and compliance risks through facilitation, reporting and control of on-site audits, inspections, accidents/ incidents and corrective actions. The modular approach to EMEX products means that customers can implement some or all of the available modules to use in their business.
Benefits of EMEX
EHS: The World Health Organisation defines Environmental Health as “Those aspects of the human health and disease that are determined by factors in the environment. It also refers to the theory and practice of assessing and controlling factors in the environment that can potentially affect health.”
The automated EHS software market is still in its early stages. It was recently estimated to be worth c.$1.2bn per annum by Verdantix, a UK based independent research consultancy specialising in the EHS sector. A key industry specific report prepared by Verdantix entitled “EHS Software Market Size And Forecast 2019-2024” predicts compound annual growth in the EHS Software Market of 9.2%.
Expansion into North America
EMEX’s focus to date has been on developing the product offering, proving the concept and creating an effective sales strategy. Funding is now required to scale up the business through expansion into the North American market and continue to develop the product suite.
Achieving these strategic targets will result in working capital shortfalls in 2020 and 2021 which will be funded through EIIS (€4m) and private equity fundraising (€2m). Different funding sources have been targeted as compliance with EIIS regulations does not allow for expenditure on markets in which companies are currently active (i.e. EMEA).
Success in the North American market is core to the growth plan for the company. To accomplish this, a significant presence will be established in that market by delivering on two core strategies:
Building 4 new sales teams (comprising 30+ people) concentrate on separate geographic areas; and
Marketing campaigns to drive Brand Awareness (digital, trade, sponsorship, partnerships)
EMEX has already engaged with Enterprise Ireland and IDA Ireland to help facilitate its expansion in North America through the development of local networks. It has also engaged with technology specialist company The Chasm Group to assist with its market penetration strategy and brand awareness growth in the US.
North America currently accounts for 53% of the global EHS market and represents the most significant growth opportunity for EMEX.
Investment Start Date: 7 September 2020
Maturity Date: 6 September 2024
Investment Term: 4 Years
Investment Purpose: Fund costs associated with expansion of EMEX into new markets (North America)
Fees: Placement fee of 3% is payable by the Investor
Expected Tax Treatment: Capital Gains Tax or Income Tax (where applicable)