Irish travel tech firm Boxever recorded a 65 per cent jump in revenues in 2016, a period in which accumulated losses jumped to almost €14 million. The move came after it previously raised $19 million (€15.4 million) from investors that include Polaris Partners, Frontline Ventures and Silicon Valley Bank. Employee costs, including wages and salaries, increased to €4.6 million in 2016 from €3.1 million in 2015. A note included in the accounts reveals that revenues jumped 65 per cent year-on-year although no figures on turnover are outlined. We are able to leverage this upfront investment to reduce our losses year-on-year.

Source: The Irish Times February 15, 2018 05:15 UTC