Geaney is chairman of Automsoft, which develops process automation software for large organisations, particularly pharmaceutical firms.

Automsoft's existing investors, including Pentech Ventures, IDG Ventures and Cross Atlantic Capital Partners (XACP), also reinvested in the company, bringing its total backing to around €11 million.

Paraic O'Toole, the chief executive of Automsoft, said the funding would cover the firm's growth plans. He would not comment on the amount raised in the funding, or the exact amount invested by Geaney.

However, O'Toole said the investment by the ex-Elan boss was an endorsement of Automsoft's technology, which is used by multinational pharmaceutical companies such as Wyeth, Roche, Abbott and Pfizer.

The software allows process manufacturers, such as pharmaceutical, food and drinks companies and utilities firms to capture, monitor and manage low-level information on the factory floor.

Geaney has been chairman of Automsoft since January 2003, and is also chairman of the National Pensions Reserve Fund and the Irish Aviation Authority.

O'Toole said Geaney had ``brought a global perspective and experience'' to Automsoft, which is headquartered in Dublin and has three offices in the US. The company was founded in 1997.O'Toole, a former vice-president of US consultancy company Cambridge Technology Partners, became chief executive in 2001.

O'Toole said the company was ``recruiting heavily'' in the US and had hired Tim Pierce, a former executive at data storage multinational EMC, as head of third party relationships. It has also promoted Gillian Hardy to the position of vice-president of marketing.

``We have nice revenues coming from life sciences, and there is potential with the oil and gas players and other utilities,'' O'Toole said.

He would not comment on revenues at Automsoft, but said the company was still loss-making because it was focused on growth.

``The market is tough and there are challenges, but we have been aggressive on costs and have very supportive backers.''

Automsoft's directors include O'Toole, Geaney, Chris Smart from IDG Ventures, Gerry McCrory from XACP, Robert Thompson from Pentech, and corporate financier James Skehan.