Business Irish

Wednesday 26 April 2017

Voxpro to create 300 jobs in Philippines as it seeks €30m to help fund expansion

Voxpro founders Linda and Dan Kiely
Voxpro founders Linda and Dan Kiely
Samantha McCaughren

Samantha McCaughren

Voxpro, the Cork-based outsourcing business which is currently seeking new investment, has committed to opening an office in the Philippines in the next financial quarter.

It is understood that the company plans to employ 300 people at a centre of excellence in Manila, as it moves towards a structure which ensures it can meet the needs of customers in all time zones.

The Cork-based company, which is owned by husband and wife team Dan and Linda Kiely, is currently working with advisers Deloitte to raise up to €30m and has been outlining its ambitious expansion plans to potential investors.

Turnover has grown 80pc at the company in both 2015 and 2016 and it is on track to achieve revenue growth of 67pc this financial year.

The group expects to deliver revenue in excess of €100m in this financial year, up from €60.6m in 2016.

This compares to €33.4m in 2015 and €18.8m in 2014.

It is understood that company is looking at further locations in mainland Europe, Asia and the US and believes its workforce will grow to 3,000 in 12 to 18 months.

An operation is due to open in Bucharest, Romania this month, initially employing 180 people.

The company has also set its sights on Latin America. It hopes to open there next year, initially employing 300 people.

Voxpro believes it will grow operations through new contract wins and expanding services to existing clients.

The company provides multilingual tech support and business outsourcing services.

Voxpro, which was established in 2002 has built up a client list of some of the world's leading tech companies.

They include Google, Nest, and Airbnb. It also services the €8bn online payments firm, Stripe, started by Limerick brothers Patrick and John Collison.

Voxpro has also strengthened its board with the appointment last year of Louise Phelan, Paypal's vice-president of global operations for EMEA, and Aidan O'Shea, Voxpro's managing director, as directors of the group.

Last April, the company said it would expand into the US where it aims to create 500 jobs.

In its most recent published figures, the company said pre-tax profits were €1.8m while earnings before interest, taxes, depreciation, and amortisation (EBITDA) were €3m, up from €1.1m and giving the business an EBITDA margin of close to 10pc.

It is seeking an investor to take a minority stake in the business and market sources believe the funding will come from outside Ireland.

The company, which started with half a dozen people in Cork city, now employs 1700.

Sunday Indo Business

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