3D company from Donegal to create 24 new jobs after round of financing

Donegal-based publishing platform 3D Issue, which operates with a four-day workweek, is set to create 24 new jobs after raising €750,000 in funding.

Corporate equity fund Furthr VC and the state-backed Western Development Commission (WDC) each contributed €375,000 to the round of funding, which will help 3D Issue grow its workforce to 40 by the end of next year.

The company develops branded templates for online magazines, brochures or reports that can be used on multiple devices, reducing design costs for clients.

It was founded in 2007 and today has around 1,500 customers in over 44 countries working with brands such as Mercedes, Sony, NASA, Mensa and Procter & Gamble.

The new roles will be in design, software development, sales and marketing. Most will be based in Donegal, some will be remote and a small number of sales and marketing roles will be based in the US and UK.

The company offers its employees a four-day workweek, which has boosted sales and morale.

Chief Executive Officer and founder Paul McNulty told the Irish Independent last year that given the choice between a pay raise and a day off, all staff have opted for extra time off.

In addition to new jobs, the funding will help fund product development and expand into existing and new markets.

3D Issue’s revenue is set to increase six-fold over the next three years to €6 million, the company said in a statement.

“This is an exciting time of growth and innovation for our company and we are pleased to have the support of Furthr VC and the Western Development Commission,” McNulty said Friday.

“Recently, we helped a publisher reduce the design time for an online publication from 240 hours to four hours while reducing the cost per page from over €4,000 to under €70.

“We will continue to innovate to ensure we offer our customers the best service and quality.”

Furthr VC is an early stage venture fund established in 2019 and is backed by Irish technology entrepreneurs, business leaders and Enterprise Ireland.

It is the venture arm of Irish investment fund and advisory service Furthr, which has raised over €500m for more than 500 start-ups over the last 30 years.

Richard Watson, Managing Partner of Furthr VC said that 3D Issue “stands out from competitors and is well positioned to become a major player in the global digital publishing market”.

WDC, 20, runs a €77m investment fund for companies in the West and North West of Ireland. Initially funded by the state, it has been self-financing since 2010.

“3D Issue has demonstrated global ambition from Ireland’s Atlantic coast and our team is delighted to support them on their journey as they expand operations and increase their workforce,” said WDC Managing Director Tomás Ó Síocháin.

A report by consultancy Indecon released this week found that WDC has generated a return of almost 2.5 times its original value, with the companies it has supported pouring €3.3 billion into the Irish economy over the past two decades have injected.

https://www.independent.ie/business/jobs/donegal-firm-3d-issue-to-create-24-new-jobs-after-funding-round-41923185.html 3D company from Donegal to create 24 new jobs after round of financing

Fry Electronics Team

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