US software firm Kaseya plans to create up to 130 new jobs in Dublin following a €19 million investment from the State-backed Ireland Strategic Investment Fund (Isif).

The company, which develops management software for “mid-market” enterprises, said the investment was part of a wider funding round that will see it raise over €38 million.

Kaseya, which is owned by global software investor Insight, said it plans to add up to 130 new staff to its existing Dublin-based operations, which already employ roughly 30 people.

It also plans to launch a collaboration programme with several third-level universities and institutes of technology here, which will include a wide range of internship opportunities and support for computer science courses.

“Ireland is a great place to continue to develop our industry-leading software solutions,” Kaseya chief executive Kaseya Fred Voccola said.

“Our contribution to Ireland’s vibrant, dynamic software sector will help to bolster the country’s growing reputation as an IT leader, while creating significant additional value for our investors,” he added.

Isif said the investment was aimed at filling an existing funding gap for established and growing Irish software businesses.

“This investment promises a significant economic impact. It will bring high-quality software jobs and further cement Ireland as the destination of choice for global software companies seeking an EU presence,” head of private equity at Isif Fergal McAleavey said.

“We are confident that Kaseya will deliver a strong commercial return on our investment to complement our economic impact objectives,” he added, noting the transaction further strengthens the fund’s relationship with Insight.