Collaboration app, Lystable, confirmed as the first tenant of Belfast's new hi-tech Ormeau Baths co-working space

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  • Startup app Lystable, which was founded by Carrickfergus entrepreneur Peter Johnston, has confirmed that it will be the first tenant of the Belfast's new hi-tech Ormeau Baths co-working space.

    San Francisco-based Lystable, is a freelancer collaboration app used by managers in publishing, fashion, content marketing and video production, to streamline working with freelancers by using the app to store profiles, assign work, track invoices and make payments.

    Lystable founder & CEO Johnston, is also one of the founding members of the Ormeau Baths coworking space. The company plan to open its Belfast office in late 2017, and it's anticipated that Lystable’s Belfast office which will offer customer and client support, will employ up to 10 staff.

    The company broke the news at same time it announced that it has added $10 million to its Series A funding, doubling the company’s valuation since June of last year. The additional funds bring Lystable’s total investment capital raised to $25 million.

    Valar Ventures, led the additional financing with participation from earlier investors Max Levchin’s SciFi VC (formerly HVF Investments), Kindred Capital and Goldcrest Capital, as well as new investors Glynn Capital and Wilmont Ventures.

    Speaking on the new funding Lystable founder Johnston said: “The additional capital will be used to continue to expand our team in the U.S. and specifically to launch a major new product later in 2017.”

    Valar Ventures founding Partner James Fitzgerald added: “Lystable is at the heart of a seismic shift in how people work. The concept of having a single, full-time employer is increasingly a thing of the past. As the freelancer economy grows, companies of all sizes need an efficient and streamlined way to manage their growing army of freelancers.”

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