Player acquisition and retention specialist Xtremepush has raised $33m in growth capital as the group looks to accelerate its global expansion strategy.
The cash raise includes equity funding from Grafton Capital, a London-based growth investor in European technology companies, alongside a refinanced debt facility.
The Dublin-headquartered SaaS firm has voiced an intention of doubling its workforce to 140 people in Ireland and overseas over the next 12 months, creating new roles across all divisions, including software and DevOps, sales and marketing, finance and operations.
Tommy Kearns, CEO and co-founder of Xtremepush, explained: “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.”
Xtremepush enables its global client base to drive revenue and enhance customer experiences through personalised, data-driven communications across all digital channels.
The group has undergone continual growth year-on-year since its launch in 2014, and employs 70 people in Ireland, the UK, central and eastern Europe, as well as recently opening its US headquarters in New York state.
Kevin Collins, CTO and co-founder of Xtremepush, said: “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.
“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.”
The investment will see Grafton Capital gain a minority stake in the Dublin-headquartered firm, with Edward Barroll Brown, managing partner of Grafton Capital, who led this investment, joining the board of directors.
“Xtremepush has a first-rate team that have 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,” Brown added.
“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.”