Xtremepush, a player acquisition and retention company, has raised $33 million in growth capital to help it accelerate its global expansion strategy.
Grafton Capital, a London-based growth investor in European technology firms, contributed equity to the cash raise, which was accompanied by a refinanced lending facility.
Over the next 12 months, the Dublin-based SaaS startup plans to double its staff to 140 individuals in Ireland and abroad, establishing new roles across all sectors, including software and DevOps, sales and marketing, finance, and operations.
Xtremepush’s CEO and co-founder Tommy Kearns 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.”
Through customised, data-driven messages across all digital channels, Xtremepush helps its worldwide client base to increase revenue and improve consumer experiences.
Since its inception in 2014, the company has grown year on year, employing 70 individuals across Ireland, the United Kingdom, Central and Eastern Europe, as well as recently launching its US headquarters in New York state.
Kevin Collins, Xtremepush’s CTO and co-founder, 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 earn a minority ownership in the Dublin-based firm, and Edward Barroll Brown, Grafton Capital’s managing partner who managed the investment, will join 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.”