Qstream to locate Europe HQ in Dublin as funding completed
Qstream, an Irish-backed technology spin-out from Harvard University, plans to open its European headquarters in Dublin after completing a €2.1m series A funding round.
The financing was led by Irish technology fund Frontline Ventures as well as Launchpad Venture Group, a Boston-based angel investment company.
Qstream, a mobile sales enablement and analytics company, has already hired a five-person team based in Dogpatch Labs as it prepares to open its own office.
This will include an research and development engineering group as well as sales and marketing support for its expansion out of the US where it already has significant clients including two of the world's biggest drug firms – Pfizer and Genentech.
Qstream was founded in 2008 in Boston by Dubliner Duncan Lennox, a UCD computer science graduate, and Dr B Price Kerfoot, an Associate Professor of Surgery in Harvard Medical School.
"We're looking to hire rock-star engineers in Dublin," Lennox said. He said the availability of engineering talent in Ireland had increased since he left Ireland in 1997 to work in Silicon Valley and in Boston. "We've always struggled to grow indigenous software firms," Lennox said.
"Now we're seeing a vibrant start-up eco-system in Dublin like that in Silicon Valley and Boston. If the eco-system wasn't there I justify coming back to my investors."
Qstream has recently hired Louella Morton as General Manager Ireland from WBT Systems, an e-learning company where Lennox previously was chief technology officer.
Lennox said he knew Shay Garvey, a partner in his new investor Frontline, from his time in Delta Partners which previously invested in WBT.
He said Qstream helped large sales forces remember information better and make more sales. "We help make sales forces more effective," he explained.
"We prepare them to have valued-added conversations with customers. So much is done on the web that you need a solution-oriented conversation when you actually speak to customers."
Qstream uses Harvard research on how to train people online in order to do this.