Xtremepush secures $33m in growth finance
14 July 2021 | 0
Xtremepush, an Irish-owned multi-channel customer engagement platform, has raised $33 million in growth capital to accelerate its global expansion. The Dublin-headquartered SaaS company plans to double 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.
Xtremepush enables its global client base to drive revenue and enhance customer experiences through personalised, data-driven communications across all digital channels. It has undergone continual growth year-on-year since its launch in 2014 and already employs 70 people in Ireland, the UK, Central and Eastern Europe, and at its recently opened US headquarters in New York State.
The company’s $33 million cash raise includes equity funding from Grafton Capital, a London-based growth investor in leading European technology companies, and a refinanced debt facility.
“This investment validates and recognises the calibre of our technology, our people, and the ambitious global growth plans we have for the company,” said Tommy Kearns, CEO and co-founder of Xtremepush. “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 established Xtremepush in 2014 with Dr Kevin Collins and the company has since built up a global client base across multiple verticals, including banking, retail and e-commerce, travel and transport, hospitality, publishing and media, and sports betting and gaming.
Uniquely, Xtremepush’s comprehensive tech stack offers a single, unified platform for customer engagement, personalisation and data. Offering mobile-first, multichannel customer experiences, its platform enables brands to acquire new customers and communicate more effectively with existing customers through automated, real-time and relevant messaging.
“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,” said Dr Kevin Collins, chief technology officer and co-founder of Xtremepush. “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.”
Founded in 2014, Grafton Capital has invested over £130 million in leading European software and technology companies. It has recently exited SportPursuit and sold Softomotive to Microsoft Inc in 2020. It typically invests between £5 million and £20 million in categories including software, data and analytics, online platforms or marketplaces. Capital is invested to fund the next phase of growth, to provide founder liquidity, or an exit for legacy shareholders.
Grafton Capital will own a minority stake in the Dublin-headquartered Xtremepush and Edward Barroll Brown, managing partner of Grafton Capital, who led this investment, has joined the Board of Directors.
“Xtremepush has a first-rate team that have developed an excellent product and built an impressive suite of global customers,” said Barroll Brown. “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.”
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