Dublin-based Irish mobile services company Digital Reach Group has completed an investment deal with Irish investment group Pageant Holdings, just nine months since its inception.
The investment of EUR500,000 is forecasted to fund the company to profitability and will be used to facilitate the expansion of Digital Reach Group’s sales, technology and finance teams.
Digital Reach Group currently employs ten staff based in Dublin, with a team of 20 planned by the end of the year.
Digital Reach Group chief executive Colm Grealy says: “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.”
Pageant Holdings has interests in a number of Irish and European businesses with a portfolio that includes media businesses and tele-health monitoring technology company, BodyTel Europe.
Pageant Holdings, together with NCB Ventures, purchased Irish video rental chain Xtra-vision from Blockbuster in August 2009.
