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- 💡 The most controversial (Irish)man in Australia
💡 The most controversial (Irish)man in Australia
PLUS: Product Collective Acquisition, Imprint Raises $75M, Options Technology & Taoglas Expansions.
Céad míle fáilte!
After 15 years as Qantas CEO, Alan Joyce, the Dublin-born leader stepped down in September 2023, following a tough period for the Aussie airline: issues with cancelled flights, refunds, and a class action lawsuit.
Former Qantas CEO, Alan Joyce.
The latest chapter in the ongoing saga is that Joyce and his husband will enjoy free first-class flights until 2046, a perk worth nearly $2 million each.
💼 Golden parachute or simply part of executive compensation? Opinions differ.
Like his fellow Irishman and aviation peer, Michael O'Leary of Ryanair, Joyce has never been one to shy away from controversy. He demonstrated an uncanny knack for securing government support, famously securing over $2 billion during the pandemic to keep Qantas afloat. His leadership was not always popular, and he was famously grilled by an Australian Senate inquiry over Qantas’ handling of customer refunds and cancelled flights.
Grounding the fleet in 2011 during industrial disputes didn’t win him many fans, but it was part of a strategy he believed was necessary to keep the airline alive.
Some have previously labelled him “Australia’s most hated man” for service cuts. Still, others acknowledged his strong stance on social issues while delivering mega growth (over 100% increase) for shareholders during his tenure. 📈
In the end, mounting pressure forced his departure, but his legacy will be debated for years.
As for the free flights? They might just come in handy for a quick getaway.
Now, let’s get down to business…here’s a sneak peek of what we have in store for you this week:
Pendo Expands with Product Collective Acquisition 🇺🇸
Irish Fintech Founder Daragh Murphy Raises $75M for Imprint 🇺🇸
From Enniscorthy to the World: Taoglas Expands Global Reach 🌍
Options Technology Expands to Sydney Amid Major Acquisition by Vitruvian Partners 🦘
We cover another 7 Irish-affiliated companies that raised a cool €35 million in funding in the last fortnight. 🚀
Impress your friends with the latest Irish brain food stories. 🧠
Enjoy ☕️
Pendo Expands with Product Collective Acquisition 🇺🇸🦄
Pendo.io, the US unicorn known for its cutting-edge product analytics and digital adoption platform, just made another bold move by acquiring Product Collective, co-founded by Paul McAvinchey and Mike Belsito.
Mike Belsito and Paul McAvinchey.
This community-driven network serves over 60,000+ product professionals and has become a go-to resource for those of us trying to excel in a field that many never formally studied.
Product Management wasn’t a widely understood field when most of us started our careers—it’s still misunderstood today. So many of us have asked ourselves, "Am I doing this right?"
That’s where Product Collective steps in—helping product managers connect, and learn the latest methods, tools, and frameworks to build, launch, and scale software products.
With Pendo’s backing, this community is set to grow even stronger. From the acclaimed INDUSTRY: The Product Conference (held in Cleveland, New York, and Dublin) to their top-rated Rocketship.fm podcast, and on-demand training, Product Collective offers everything product professionals need to level up.
This follows Pendo's recent acquisition of Zelta AI (acquired by Pendo), an Irish-founded startup. It’s safe to say—Pendo has a real eye for Irish innovation!
This is a huge win for Irish entrepreneurship and for product managers worldwide. Let’s raise a glass to Paul, Mike, and the team. Here’s to bigger and better things ahead! 🥂
Irish Fintech Founder Daragh Murphy Raises $75M for Imprint 🇺🇸
From milking cows on his grandparents’ dairy farm in Ireland to leading one of the most promising fintech startups in the U.S., Daragh Murphy’s journey is nothing short of remarkable. Murphy, co-founder and CEO of Imprint, has just secured a $75 million Series C funding round, propelling the company’s valuation to $600 million. 🤯
Daragh Murphy, co-founder and CEO of Imprint.
Imprint, founded in 2020, focuses on co-branded credit cards—partnerships between brands and banks to offer rewards and benefits. It’s a tough market, dominated by large players like Chase and Citi, but Murphy’s team is making waves. With backers like Khosla Ventures, Kleiner Perkins, and even Stripe, Imprint is well on its way to becoming a leader in this space.
Murphy’s ability to scale quickly stems from a combination of strategic vision and relentless execution. He credits much of Imprint’s success to staying nimble and continuously hustling, a skill he developed early in his career. From landing their first client, Horizon Hobby, to now working with major brands like Turkish Airlines and Holiday Inn, Murphy’s path has been about connecting dots and building trust step by step.
The new funding not only highlights Imprint’s growth but also reinforces the rising influence of Irish founders in the global fintech scene. Murphy is part of a proud tradition of Irish entrepreneurs, and with companies like Stripe backing him, many see Imprint as Ireland’s next fintech unicorn.
While Murphy has his sights set on continued expansion, he remains grounded, drawing on lessons learned from his Irish upbringing. Reflecting on Imprint’s journey, Murphy often shares that success is about doing the work, much like Bill Walsh’s philosophy: “The score will take care of itself.” With that mindset, Imprint is poised for further growth in the coming years.
From Enniscorthy to the World: Taoglas Expands Global Reach 🌍
Taoglas, co-founded by Dermot O'Shea and Ronan Quinlan in 2004 in Enniscorthy, has grown into a global leader in antenna and IoT technology. From a small office in a town with high unemployment, the company now serves over 20,000 customers in 100+ countries, with nearly 500 employees across North America, Asia, and Ireland.
O'Shea, now based in San Diego, shared how the company’s early focus on GPS antennas led to its rapid growth. Despite challenges like the 2008 financial crisis and the COVID-19 pandemic, Taoglas bounced back. With backing from Graham Partners, the company is now valued at over $200 million, with plans to triple its sales to $300 million in the next five years.
Dermot O'Shea
O’Shea and his team adopted what he describes as a “Glengarry Glen Ross” approach to sales: constantly on the phone, consistently on planes, always meeting with clients.
I made a certain amount of calls each week, followed it up with a certain amount of emails, and made a certain amount of quotations. Its not rocket science.
Though he now lives in the U.S., O'Shea has never forgotten his Enniscorthy roots. He credits much of his business success to mentors in the local community. This incredible story, brilliantly covered by Ian Kehoe from The Currency, is a must-read: Read more here.
Options Technology Expands to Sydney Amid Major Acquisition by Vitruvian Partners 🦘
Options Technology, a key player in capital markets infrastructure HQ'd in Belfast, has announced a significant milestone with the opening of its new office in Sydney, Australia, further expanding its global presence.
This comes alongside the significant news that international private equity firm Vitruvian Partners has acquired the Belfast-headquartered company, marking a new phase in its growth story.
Some of Options Technology latest recruits.
The Sydney office is a natural step in our APAC growth strategy, and with Vitruvian’s backing, we’re well-positioned to continue expanding. Their investment will accelerate our growth in key areas like high-performance networking, cloud, AI, and market data services.
This acquisition by Vitruvian Partners, a firm known for backing high-growth companies, brings significant financial investment to Options Technology, further strengthening its position in the global financial technology market. Options, previously backed by Abry Partners, has experienced rapid growth, creating over 200 jobs in Belfast alone, with plans for even more expansion.
Founder Danny Moore launched the company in 2012— previously led Wombat Financial Software before its $200 million sale to NYSE Euronext—has overseen Options' transformation into a global leader, with more than 600 employees worldwide and clients across the globe. Under his leadership, the company has acquired key players like Fixnetix and Activ Financial.
💰 That money was just resting in my account…
A massive congratulations to the other 7 Irish-affiliated businesses that have achieved an impressive total of €35 million in recent fundraising victories 🥂
🤖 Zerve AI, a unified data science and AI development environment, has raised €7 million in seed funding. Zerve’s platform combines notebooks and IDEs to help AI teams collaborate and deploy projects efficiently.
🧑💼 Wrksense, a recruiting software platform, has secured €825,000 in pre-seed funding. The platform aims to simplify the hiring process for companies, offering a streamlined, user-friendly experience.
🔢 Numeracy for Life, an edtech startup focused on improving adult numeracy, has been awarded €500,000 in grant funding. The initiative seeks to bridge the gap in numeracy skills crucial for navigating today’s increasingly digital economy.
💉 SymPhysis Medical, a health tech company, has closed a €2.2 million funding round. Their groundbreaking drainage technology addresses malignant pleural effusions (MPE), a common complication in late-stage cancer patients.
🍽️ Ordú, a platform designed for multi-location restaurants and hospitality providers, raised €1.5 million in corporate funding. The company offers innovative solutions for online ordering and managing customer experience across diverse venues.
🔋 SuperNode, a renewable energy tech company, secured €8 million in funding to develop superconducting connection systems for better grid interconnection and renewable energy support.
🌱 Circal, a renewable energy provider, has raised €15 million in Series A funding. The company assists organizations in meeting decarbonization goals while helping landowners diversify agricultural revenue.
🧠 Brain Food
Here is your quick serving of Irish Insights-related wins, trends, events, media and resources that we think you’ll enjoy digesting 🍽️:
🤖 ICYMI, check out last week’s deep dive on the Irish people and companies abroad doing incredible things abroad. READ HERE
🏡 Irish Government billboard calls Australian construction workers to come home to build houses. READ HERE
🦄 Fintech Unicorn Wayflyer Founder Jack Pierse starts newsletter. READ HERE
🏆 Ten Irish firms named in Wired’s top 100 start-ups. READ HERE
🧙♀️ Emma Watson invests in Irish Founded Herility. READ HERE
🟢 Mark Ruffalo (aka The Hulk) rows in on Irish politics. READ HERE
🌉 How San Francisco Learned to Love Self-Driving Cars. READ HERE
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