An acquisition fund in the region of €15m is now available to Xtrempush with which to accelerate its acquisition strategy
Dublin tech firm Xtremepush has announced Beechbrook Capital as its latest new capital partner, having secured €4.25m funding to support the business’s global growth and acquisition strategy.
An acquisition fund in the region of €15m is now available to the business with which to accelerate its acquisition strategy.
“Xtremepush is now moving to a new phase, planning a high growth trajectory through both organic and acquisition growth”
In June this year it completed the acquisition of Alchemetrics, a UK agency specialising in bespoke Customer Data Platforms. This followed the 2018 acquisition of Emailcenter, a long-established UK email service provider.
The company plans to act swiftly on its acquisition trail, with longer-term goals that would see Xtremepush established as a €40m ARR (annual recurring revenue) business within 36 months.
Growing exponentially
A leading customer engagement, personalisation and data platform, Xtremepush was founded by CEO, Tommy Kearns, and CTO, Dr Kevin Collins, in 2014.
The latest round of growth capital is also earmarked for expansion of the company’s US sales, operations and tech team, as well as continued hiring across European offices.
The business has enjoyed practically 100pc year-on-year growth since it was founded, and employs a workforce of over 65 in offices in Dublin, the UK, North America and Central and Eastern Europe.
Uniquely, Xtremepush has developed a comprehensive tech stack, offering push marketing clients a single, unified platform for customer understanding, engagement and decisioning.
From its Irish headquarters, the business services a global portfolio of brands across multiple verticals including retail banking, e-commerce, travel and transport, publishing and media, hospitality and sports betting and gaming.
Xtremepush is still aggressively growing and hiring, and plans are for extensive organic growth in the US, according to CEO and co-founder, Tommy Kearns.
“The finance deal with Beechbrook Capital comes at an opportunistic time, where the business is primed for major expansion. From a successful bootstrapped company, Xtremepush is now moving to a new phase, planning a high growth trajectory through both organic and acquisition growth.”
Beechbrook Capital is a specialist European mid-market lender with a dedicated Irish SME fund. Xtremepush looked to the European market for potential capital partners and, its owners say, found a strong partner in BeechBrook that wants to be invested in the Xtremepush journey over the next three to five years.
“Beechbrook Capital bought into the Xtremepush strategy and our vision for global growth because of the high-quality profitable platform we offer to the market, combined with an experienced management team and successful track record”, Kearns says.
While Covid initially saw Xtremepush impacted in the hospitality and transport vertical, the business has returned to growth with strong consistent performance in the e-commerce, media and banking sectors, and a recent renewal in the gaming and betting side of the business.
The company has steadily collected accolades and industry-recognition worldwide. In 2019, it was recommended in Gartner’s Magic Quadrant for Mobile Marketing Platforms, an unprecedented achievement for a relatively young, non-VC backed company.
In the same year, Xtremepush received the inaugural Deloitte Financial Services Innovation Award for Customer Experience, as well as the SBC Award for Best Marketing and Services Provider.
Xtremepush was advised on this Beechbrook Capital deal by FinRes Corporate finance and Byrne Wallace Solicitors on the legal aspects.
Pictured at top: Xtremepush founders Dr Kevin Collins (left) and Tommy Kearns (right)
Written by John Kennedy (john.kennedy3@boi.com)
Published: 14 September, 2020
