Pointy to hire 25 after €5m fundraising
A Dublin software startup is to create 25 jobs after landing more than €5m in venture funding.
Pointy, which makes ordinary shops' merchandise searchable online, has opened a new head office in a 130-year-old Victorian building in Dublin's Amiens Street.
The company, started by Mark Cummins and Charles Bibby, is now seeking to double its headcount from 25 to 50 after a €5m infusion of venture capital some months ago.
"We currently have 25 staff and expect to double headcount this year," said Pointy CEO Mark Cummins. "If things go very well we might hire even more than that. We're an Irish-founded company growing rapidly and working hard to bring interesting retailers online across the world and Ireland. It's been wonderful to see the response from retailers."
Cummins said that the new office has space for 80 people.
Pointy is used by retailers to attract more footfall to their store, by helping them be found through Google and other online channels. Retailers connect the startup's 'Pointy box' into the shop's barcode scanner. The system then facilitates stock to be searchable online.
The new Dublin office follows what the company has called a period "of exponential growth" as it launched in Canada and the UK in 2017.
"Currently we are working with retailers in every county in Ireland, from Dublin city centre to Achill Island," said Cummins. "In Dublin, approximately one in every seven shops is using Pointy. In the US there are retailers in every state using Pointy, everywhere from Hawaii to Alaska."
In autumn last year, the company announced a €5m funding round with high-profile investors such Paul Allen founder of Microsoft, the founders of Google Maps, Draper Associates, Frontline Ventures, Matt Mullenweg founder of Wordpress, Michael Birch founder of Bebo, Web Summit boss Paddy Cosgrave and the former Ireland rugby captain Jamie Heaslip.
"The success and rapid growth of Pointy since its establishment has led them to their new premises in Dublin Central," said Finance Minister Paschal Donohoe.
"It is wonderful to see an Irish-founded company develop in the way Pointy has, in just a few short years, with plans afoot to double their workforce.
"As a local TD for the area, witnessing this success and subsequent expansion of operations into Dublin Central, however, comes close.
"The ingenuity offered to businesses by Pointy gives them the potential to access a wider client base and to encourage prospective shoppers to their store.
"This assists with growing the bottom line and the future evolution of the company."
This is the second startup for Cummins, whose previous business, Plink, was acquired by Google and marked the first acquisition by Google of a company from the UK or Ireland.