Cubic Telecom, the company whose Maxroam SIM product provides low-cost data roaming, has received funding of €500,000 from Enterprise Ireland. Cork entrepreneur Pat Phelan is the founder of Cubic Telecom, and says while securing the funding is the most important thing, to have the backing of a governmental agency is, “really quite incredible,” and a realisation of a, “crazy dream.”
“Enterprise Ireland have been an excellent backer of Cubic since the very start. That level of support is very encouraging from a governmental body.
“One of the major strengths of Enterprise Ireland that people forget about is the strength of their global offices and it’s something that we in Cubic concentrate on quite a lot. We’ve an excellent relationship with their offices in Brazil, Australia, Germany, the UK, and David Smith in Palo Alto. For the companies that we speak to, when they hear that the Irish government is involved, it brings a lot of kudos.”
Pat explains that this latest funding will allow Cubic to expand its global operations and enable its technical growth, “to speed up exponentially.”
Cubic already has a number of partnerships globally in Australia, the US, the UK, Israel and Slovakia, and Pat aims to expand upon these in the coming months.
“We have very successful partners trading at the moment. Some of those trade as an actual partner and some of them would trade as a white label partner so they could be selling very successfully in their market in, say, Israel and people wouldn’t even know that Maxroam were behind them.
“Maxroam’s future is data. We’re a data-driven company. People think we’re in the roaming business, but we’re actually a connected devices business. We have a custom built platform, built and designed in Ireland, that can connect not only SIM cards but multiple devices.
“We feel the area to promote is the data side of the business and we see an unlimited requirement for data connectivity globally.”
A US office is also in the pipeline, with Cubic, “undecided” between New York and Palo Alto, while further jobs may be created elsewhere overseas.
“We’ve already created between ten and twelve jobs; we think we’ll create somewhere between five and ten more in 2011. We have large opportunities in Asia and in Australia so this will enable us to bring about local representation and it will enable our technical growth to speed up exponentially.”
Pat is quick to acknowledge the role played by others in getting Cubic Telecom to the point of securing this funding, simply stating, “It’s just the team, you know?”
“We’ve the original team. It’s all about the people, it’s all about the guys who were with me from the start, and it’s all about our shareholders who believed in Pat Phelan, and believed in this crazy dream. Now it’s a reality and now it’s a rapidly growing business; we’re multiplying month on month.”
With some estimating that data roaming could become a $66 billion industry by 2016, Pat is ebullient about the potential for growth in this sector, “we hope to play our part in that growth.”
Co-written with Conor Harrington