Xtremepush secures $33m cash injection to drive expansion plans

By | July 14, 2021

Xtremepush, the Irish-owned multi-channel customer engagement platform, will press on with its expansion plans in overseas markets after raising $33 million in growth capital.

Xtremepush enables its global client base to drive revenue and enhance customer experiences through personalised, data-driven communications across all digital channels.

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, as well as in its recently opened US headquarters in New York.

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. 

Founded in 2014, Grafton Capital has invested over £130 million in leading European software and technology companies. It 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. Its capital is invested to fund the next phase of growth, to provide founder liquidity, or to provide an exit for legacy shareholders.

Tommy Kearns, CEO and Co-Founder of Xtremepush, shared his reaction: “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. 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, as well as sports betting and gaming.

Collins added: “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, while Edward Barroll Brown, the Managing Partner of Grafton Capital who led this investment, has also joined the Xtremepush Board of Directors.

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. 

“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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