Irish News

Xtremepush secures $33m in growth finance to scale globally

By Business & Finance
14 July 2021
Pictured (from left to right): Edward Barroll Brown, Managing Partner of Grafton Capital; Dr Kevin Collins, Chief Technology Officer and Co-Founder of Xtremepush; and Tommy Kearns, CEO and Co-Founder of Xtremepush

Xtremepush, the Irish-owned multi-channel customer engagement platform, has raised $33 million in growth capital to accelerate its global expansion.

The Dublin-headquartered SaaS company will 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 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, alongside a refinanced debt facility.

Tommy Kearns, CEO and Co-Founder of Xtremepush, said: “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 established Xtremepush in 2014 with CTO and Co-Founder, 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.

Kevin Collins, Chief Technology Officer 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.”

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.

Edward Barroll Brown said: “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.

Xtremepush was a 2020 Deloitte Fast 50 Winner and was recognised internationally as a “Challenger” in the prestigious 2020 Gartner Magic Quadrant for Mobile Marketing Platforms. Xtremepush also 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.