26 May 2010
Our client, Digital Reach Group (DRG), has announced that it will double its team just nine months since its inception. DRG has completed an investment deal with Pageant Holdings, which will facilitate the expansion of its sales, technology and finance teams and is forecasted to fund the company to profitability. DRG currently employs 10 specialised staff based in Dublin, with a team of 20 planned by the end of the year.
Pageant Holdings has interests in a number of Irish and European businesses including Xtra-vision. With the €500,000 investment deal, Pageant Holdings will take a minority stake in DRG and Peter O’Grady Walshe will join the board of DRG as a non-executive director.
Digital Reach Group CEO Colm Grealy said of the deal: “This investment is further endorsement of our management team and business strategy and puts us in a great position to service and support our customers. To date, our success can be attributed to having a remarkably innovative and forward-thinking team. We are excited by new digital platforms and we look forward to hiring more like-minded employees. We aim to drive our business forward and further expand our services within the advertising and digital media industries in Ireland.”
Commenting on the investment O’Grady Walshe said: “DRG provides the services and tools that allow businesses to take advantage of the mobile internet’s potential, an increasingly critical media platform.” He adds: “The management team’s proven track record in the both internet and mobile sectors marks DRG out as a company with very significant promise for continued growth.”
DRG delivers mobile advertising, app and content publishing solutions for publishers, advertisers and ad agencies. Recent successes include:
- Winning deals to sell and manage mobile advertising on behalf of Meteor, RTE and a network of other popular smartphone applications through its mobile web advertising division, Adforce.
- Creating the highly successful RTE News Now iPhone app, which became Ireland’s number one news app on iTunes within two days of its release and remains at the top of the charts to this day.
- Launching Ireland’s first Quick Response (QR) codes service through ScanLife – a ‘point and scan’ mobile marketing service. By scanning a unique barcode displayed alongside a printed ad, editorial, on merchandise or displays smartphone owners can have instant access to extra information on their handsets.