Friday 21 September 2018

Investors in Pulsate stump up fresh funding

Pulsate founder Patrick Leddy
Pulsate founder Patrick Leddy
John Mulligan

John Mulligan

Dublin-based mobile marketing software firm Pulsate Mobile has raised €200,000, with existing investors including PayPal among those who have stumped up fresh funds for the business.

PayPal, Heineken, Circle-K (previously Topaz) and the AA are among the firm's clients.

Its software enables companies to offer a range of services, such as location-based marketing and live chat. Clients can also engage in real-time customer segmentation and use services to build marketing campaigns.

Pulsate has previously raised more than $3m (€2.6m) from investors including Enterprise Ireland, the Delta Partners Bank of Ireland seed fund, and US venture capital outfit Dunnhumby Ventures.

Filings for Pulsate show that it raised the latest €200,000 from PayPal, Dunnhumby, the Bank of Ireland Start-up and Emerging Sectors Equity Fund, and private clients of Davy Stockbrokers.

Founded by Patrick Leddy, Pulsate announced in 2016 that it was adding between 30 and 40 jobs that year to bring its total to about 60.

However, accounts for the business show that it cut the number of staff on its books from about 13 in 2016 to an average of eight last year.

The firm recently appointed Sarah Martin as its new CEO. She has previously worked with companies including Unilever and Digicel. She held roles including European marketing manager at Unilever, and at Digicel roles included global marketing manager and commercial director, fibre acquisitions.

Accounts for Pulsate Mobile show that it had accumulated losses of €2.1m at the end of 2017, up from €1.5m at the end of 2016, as it continues to develop, expand and secure new clients.

The company's customers also include Miami International Airport, Amadeus, SITA, Boyle Sports and NCR.

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