Céad míle fáilte!

The Irish tech scene wouldn't be complete without mentioning the Collison brothers and their brainchild, Stripe. These lads are practically tech royalty, and their recent power moves, like acquiring Lemon Squeezy and executing share buybacks, are not going unnoticed.

Stripe’s recent valuation has settled at a jaw-dropping $70 billion— more than enough to buy everyone in Ireland a pint... or maybe two! If that isn’t impressive enough, in 2023, it crossed over $1 trillion in total payment volume, leaving everyone wondering about its elusive public debut due to its captivating growth.

Despite stable internal valuations and no immediate need for cash, some speculate that Stripe might keep us guessing. Instead of rushing to an IPO, they could focus on intelligent acquisitions and partnerships to drive further expansion.

Stripe’s enigmatic journey continues to captivate the tech world. Will they keep us guessing with more strategic moves, or will we finally see them ring the bell on Wall Street? Only time will tell.

From telehealth innovations to AI-driven creativity, the Irish tech diaspora continues to make waves globally. Here’s a sneak peek of what we have in store for you this week:

• LetsGetChecked Eyes $525 Million Acquisition of Truepill 🇺🇸 

• Irish Innovation Behind Write with LAIKA 🇩🇰

• EQT Private Equity to acquire a majority stake in AMCS 🇸🇪

• The Irish Founder on the Path to Unicorn Status 🇺🇸

• Impress your friends with our latest brain food—and if they don’t believe you’re this smart, blame it on us! 🧠

Enjoy ☕️

LetsGetChecked Eyes $525 Million Acquisition of Truepill 🇺🇸 

The health tech world is buzzing with news that Dublin and New York-based startup LetsGetChecked is in talks to acquire US online pharmacy Truepill for around $525 million.

Founded in 2015 by Peter Foley, LetsGetChecked offers telehealth services, at-home test kits, and pharmacy solutions, enabling people to manage their health from home—because, let’s face it, who wants to spend hours in a waiting room when you could be managing your health from the comfort of your couch?

The company gained momentum during the pandemic with its FDA-approved COVID-19 test kits and reached unicorn status in 2021 after raising $285 million in funding. In recent years, LetsGetChecked has expanded by acquiring Veritas Genetics, Veritas Intercontinental, and BioIQ, strengthening its offerings in genome sequencing and population health diagnostics.

CEO Peter Foley’s personal experience with a delayed diagnosis inspired him to launch the company with a mission to break down barriers in healthcare. Supported by Irish fund Elkstone and investors like Rory McIlroy, LetsGetChecked primarily operates in the US, serving major clients like Amazon and Berkshire Hathaway.

This acquisition, if finalized, will further strengthen LetsGetChecked’s position in the health tech landscape, driving its mission to make healthcare more accessible, personalized, and efficient. Exciting times lie ahead, and this is certainly a deal to watch closely.

Irish Innovation Behind Write with LAIKA: Charlene Putney and the Creative Power of AI 🇩🇰

Write with LAIKA, a Danish start-up co-founded by Charlene Putney, is leading a revolution in creative tools driven by AI. Born from a simple idea discussed around a kitchen table, LAIKA has grown into a dynamic business that aims to transform how writers interact with technology.

Charlene, with nearly a decade at Google and Facebook, combined with her extensive games industry experience, brings a unique perspective to LAIKA. Alongside co-founders Martin Pichlmair and Riddhi Raj, they have developed a product that lets writers personalize AI models to match their unique voices, turning creative work into a highly personalized journey. What truly sets LAIKA apart is its dedication to respecting the creative process. The team has crafted AI tools that enhance rather than overshadow a writer’s voice.

A pivotal moment in LAIKA’s journey was gaining backing from Rockstart, a renowned accelerator program. This endorsement is significant as it validates LAIKA’s vision and provides access to vital resources and mentorship that can propel the startup’s growth in a competitive market.

Currently, Write with LAIKA offers a subscription service called the “Writers Room”, specifically designed for professional writers. The company is committed to making technology accessible for creatives and is exploring expansion beyond AI. The team also seeks funding to complete their pre-seed round, aiming to refine their product and differentiate themselves from conventional offerings like OpenAI.

EQT Private Equity to acquire a majority stake in AMCS 🇸🇪

In a significant development for Irish tech and sustainability sectors, Swedish-based EQT Private Equity is set to acquire a majority stake in Limerick-based AMCS, a global leader in sustainability software for resource-intensive industries. Co-founder Jimmy Martin and existing investors, including Insight Partners, will retain minority stakes, highlighting their continued confidence in AMCS.

Founded in 2003, AMCS specializes in SaaS solutions that help companies in waste management, recycling, transport, and utilities optimize their operations and meet sustainability goals. With over 1,300 employees serving 3,800 clients across 80 countries, AMCS is crucial in pushing towards a circular economy. Its software enables clients to manage day-to-day operations, enhance efficiency, and align with environmental regulations, all while scaling for growth.

The investment aligns perfectly with EQT’s focus on impact-driven investments. With the world increasingly adopting circular economy principles, AMCS is well-positioned to lead the charge in resource efficiency and sustainability. The backing from EQT will fuel AMCS’s global expansion and innovation efforts, reinforcing its role as a key player in the sustainability tech landscape. The deal is expected to close by early 2025.

The Irish Founder on the Path to Unicorn Status 🇺🇸

Imprint, the innovative startup co-founded by Irish entrepreneur Daragh Murphy, raked in an incredible $25 million in revenue last year. The company is now catching the eye of Forbes as a potential unicorn in the making. Imprint made it to Forbes' prestigious Next Billion-Dollar Startups 2024 list, solidifying its position among the top 25 venture-backed companies prime to hit a $1 billion valuation.

Founded in 2020 by Daragh Murphy and Gaurav Ahuja, Imprint is disrupting the fintech scene with its platform that lets consumers shop with their favorite brands while earning personalized rewards. By partnering with brands to create and manage co-branded credit card programs, Imprint is offering personalized rewards that adapt to individual spending habits, ultimately encouraging customers to spend more with partner brands.

The startup's recent deals with major brands like HEB, Holiday Inn Club Vacations, and Westgate Resorts helped secure $75 million in Series B funding last November. This funding, led by Ribbit Capital, aims to fuel Imprint's expansion further.

With Imprint's groundbreaking technology, brands can roll out their credit cards faster, offering rewards tailored to each customer's unique spending patterns. With its impressive growth trajectory and backing from major investors, Imprint is on its way to becoming the next big name in fintech.

🧠 Brain Food

Here is your quick serving of Irish Insights-related wins, trends, events, media and resources that we think you’ll enjoy digesting 🍽️:

🍏 Steve Jobs opened the Co.Cork Apple plant in 1980. WATCH HERE

📈 Irish venture capital funding surged by 38% in Q2. READ HERE

🚀 Check out this episode of The Entrepreneur Experiment offering deep insights into Ireland’s startup ecosystem, Enterprise Ireland, and the impact of global successes like Stripe and Intercom. LISTEN HERE

🎉 Learnosity has been recognized in the Education Advancement category at the Amazon Web Services (AWS) Public Sector Partner Accolades. READ HERE

👨‍💻 Founder Focus: Ronan Wall - Co-Founder and CEO of Dosen. READ HERE

🛬 Ex-Qantas boss Alan Joyce breaks his silence after losing his $9 million bonus. READ HERE

🗽Business Post partners with New York-based Digital Irish to help bring the Irish tech community together. READ HERE