Business & Finance highlights some of the top movers and shakers in Ireland.
Fenergo
Fenergo provides Client Lifecycle Management (CLM) platform software solutions to investment banks and capital market firms. The company is headquartered in Dublin, with offices in London, New York, Boston, Poland and Sydney.
Who’s behind it?
Fenergo was spun out of ICT services company, Ergo, in 2009. In 2012, the company officially separated from Ergo Group. Paul Kerley, former CEO of Norkom Technologies, was appointed as chairman, and Ruth Fletcher, former Group financial controller with Detica NetReveal and Norkom Technologies, was appointed as CFO. The team is led by CEO, Marc Murphy.
How is it funded?
The company was initially funded through private investors. In 2013, Fenergo secured €3.5m from Investec Ventures Ireland and a further €0.5m from existing shareholders to help accelerate its global market footprint and product development.
Future plans?
In 2014, the company internationalised into North America and APAC by opening offices in North America (New York and Boston) and Australia (Sydney). Plans for the coming 24 months will include further penetration of these markets, including Singapore and Hong Kong, as well as expanding the company’s footprint in the UK and Europe. Fenergo currently employs 120 people globally and still has a number of positions to fill.
Kinesis Health Technologies
Kinesis Health Technologies are a medical device start-up company based in Dublin.
Its product QTUG (Quantitative Timed Up and Go), is a ground-breaking evidenced-based technology that allows for earlier detection of mobility impairment and falls risk in older adults.
Kinesis aim to advance the field of falls prevention using QTUG, a registered medical device in Europe, US and Canada, to facilitate more accurate and objective assessment of falls risk, enabling earlier and targeted intervention.
Who’s behind it?
Founded in 2013 by Seamus Small, Dr Barry Greene and Bill Bollengier, Kinesis is a spin-out of a large ageing research centre, the Technology Research for Independent Living (TRIL) Centre, and UCD. Kinesis’ proprietary QTUG technology has been validated as part of an extensive programme of top-tier internationally peer-reviewed research in falls prevention over the past six years.
How is it funded?
QTUG has been commercialised through funding from Enterprise Ireland and is currently revenue generating with the aim of being self-funded in the short-term.
Future plans?
Kinesis are developing a suite of products for assessment of falls and mobility in older adults and technologies for assessing mobility multiple clinical conditions beyond falls, such as MS and Parkinson’s.
Sand Dollar Swim
Sand Dollar Swim was launched in 2013 by founder Maureen Dolan who saw an opening in the market for luxury designer sun protection children’s swimwear. Dolan believes in keeping children safe from sun damage and wanted to give customers the best quality Italian fabric UV swimwear.
Who’s behind it?
Dolan is an ex-model and owner of fashion boutique Modi. She created Sand Dollar Swim with her four children in mind as they were unhappy to wear the regular sun protection tops available.
She trained at Grafton Academy of Fashion Design and has spent all of her life involved in the fashion industry and knew from experience how to source the best fabrics and find a suitable manufacturer to make her designs.
How is it funded?
Dolan created a detailed business plan and approached her fabric supplier and her manufacturer and agreed long-credit terms to allow her to make and ship the product with 120 days payment terms which enabled the business to presale before the shipment arrived. The business is also self-financed.
Future plans?
The next stage for the company is to go global by creating local websites in each key market and have fulfillment centres in each. Next year, the plan is to expand to Australia and the Middle East as well as appoint a partner in New York.
Wyldsson
Wyldsson develops and manufactures premium snack and breakfast products, sold exclusively online from wyldsson.com.
Wyldsson products have been seen in the hands of Rory McIlroy and Europe’s Ryder Cup team, the English and Scottish rugby teams, QPR, the LA Lakers, the British Swimming team and TeamSKY cycling team.
Who’s behind it?
Wyldsson was founded by Dave McGeady. Graduating with a first in engineering from TCD, McGeady completed an MSc at Helsinki University of Technology before going to work in investment banking in London. He became interested in the huge potential to disrupt the food industry with higher quality, ‘cleaner’ food products and innovative distributions models while doing an MBA at Tel Aviv University and Kellogg School of Management.
How is it funded?
Wyldsson is self-funded to date, and has received support from South Dublin Local Enterprise Office.
Future plans?
Wyldsson is currently developing a completely revamped webstore, due for launch in early 2015, which will have a subscription product offering and will be used to support an aggressive push into the UK market (which currently accounts for 20% of revenue). The company is working on several new products to add to its range. Wyldsson is planning to create six new jobs by the end of 2015.
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