Sunday 18 March 2018

Datahug in move to embrace US market

Tom Lyons

DATAHUG, the business relationships software company backed by legendary tech investor Ron Conway and entrepreneur Bill McCabe, is expanding into America. The Dublin-based company led by Connor Murphy has just opened an office in London and is close to setting up on the east coast of the US.

"Our market is global and from day one we've looked outside Ireland," Murphy said.

Datahug plans to embark on a new fundraising drive to finance overseas expansion, Murphy said, after raising $1.5m last October from McCabe and Conway.

"Datahug is a very simple concept -- who knows who -- and how do you use that to hold on to clients and, very importantly, win new business," Murphy said.

The company is used by four of Ireland's six biggest accountancy firms and it has made inroads into any business where networking is important, such as law, private equity and banking. About 350 small and medium-size enterprises use it to help generate new sales by tracking and discovering connections.

McCabe, who made his first fortune running SmartForce, invested after seeing how the product could help his many interests from tech to property. Conway, an early backer of Twitter, Facebook, Google and PayPal, then invested.

The angel investor is famed for throwing cocktail parties for celebrities such as Ashton Kutcher, Tiger Woods and Shaquille O'Neill where he convinces them to invest in tech.

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