Limerick-based software startup Goshido recently completed its first round of private fundraising in only eight days. What is more impressive is that it accomplished this feat solely via the social media networking site LinkedIn.
Investors were offered 10 slots valued at €25,000 each and representing two percent of the company. Executive chairman Frank Hanigan has taken one of the slots.
The company sent 700 emails to possible candidates on LinkedIn that resulted in 200 replies and ultimately generated €162,500 (approximately A$256,000) in just over a week.
Goshido produces a web-based application of task-sharing tools as well as more complex enterprise workflow software.
The company plans to raise an additional €200,000 from Enterprise Ireland later this year.
The full article in the Irish Times can be read here.