Xtremepush, the Irish-owned multi-channel customer engagement platform, has raised $33 million in growth capital to accelerate its global expansion.
Now, the global SaaS company with headquarters in Dublin will be able to double its workforce to 140 people in Ireland and internationally. It will create new roles, including in software and DevOps, sales and marketing, finance and operations.
The innovative platform allows the company’s clients around the world to increase revenue and enhance guest experiences, thanks to personalised, data-driven communications across all digital channels.
Ambitious plans ahead
Since its inception in 2014, Xtremepush has experienced year-on-year growth and currently has a workforce of 70 people. Its employees are based in Ireland, the UK and Central and Eastern Europe, as well as at its new US headquarters in New York State.
Tommy Kearns is the CEO and Co-Founder of Xtremepush. He says:
“This investment validates and recognises the calibre of our technology, our people, and the ambitious global growth plans we have for the company. It will allow us to move ahead with our expansion in overseas markets, including North America, the Middle East and Asia. Xtremepush is now in hyper-growth mode. We want to scale quickly in all of these markets, both organically and through strategic acquisitions.”
Kearns founded the company in 2014 alongside CTO and Co-Founder, Kevin Collins and Xtremepush has now established an international client base across multiple verticals. This includes banking, retail and e-commerce, travel and transport, hospitality, as well as publishing and media, and sports betting and gaming.
The platform’s comprehensive tech stack provides a single, unified platform for customer engagement, personalisation and data. Xtremepush offers mobile-first, multichannel customer experiences, meaning that brands can reach new customers, as well as communicating more effectively with existing customers, through automated, real-time and relevant messaging.
A significant investment
This $33 million cash raise includes equity funding from Grafton Capital.
“This significant investment by Grafton Capital not only represents a cash injection but also gives us access to their vast knowledge and experience in the growth stage development of SaaS companies,” says Collins.
“This announcement is also very good news for the tech sector here in Ireland. It underscores our ability to compete internationally and to attract large global capital partners for digital enterprise services that are among the best in the world.”
Grafton Capital was founded in 2014, and to date, it has invested over £130 million in leading European software and technology companies. It has also recently exited SportPursuit and sold Softomotive to Microsoft Inc in 2020. A typical investment from Grafton Capital is between £5 million and £20 million, for sectors such as software, data and analytics, online platforms or marketplaces.
A first-rate team
Grafton Capital will now own a minority stake Xtremepush and Edward Barroll Brown, Managing Partner of Grafton Capital, joins the company’s Board of Directors.
He says: “Xtremepush has a first-rate team that has developed an excellent product and built an impressive suite of global customers. Having delivered profitable organic growth to date, we are thrilled to have been selected as the first external investor, and our investment will allow the business to accelerate its growth globally.
“We believe that Xtremepush is well-positioned to grow as more and more businesses need to get smarter about how they engage their customers across multiple channels, whilst managing first-party data and privacy requirements in a fast-changing digital marketing environment.”
Xtremepush was a 2020 Deloitte Fast 50 Winner and was also recognised internationally as a “Challenger” in the prestigious 2020 Gartner Magic Quadrant for Mobile Marketing Platforms. In addition, the company topped the Customer Experience category at the 2020 Deloitte Financial Services Innovation Awards, as well as Marketing Services Provider of Year at the SBC (Sports Betting Community) Awards.