Global Shares in Clonakilty is looking to fill 150 positions immediately and says it plans to add a further 480 jobs by 2024.
The business, which provides software and services to help companies manage employee share plans, has been operating since 2006 and today’s job announcement is supported with state aid from Enterprise Ireland.
Initially using third-party software, the company developed its own bespoke software platform after chairman Richard Hayes and chief executive Tim Houstoun bought out the original owners in 2012.
Houstoun (pictured) said: “Our growth over the past couple of years has been enormous and over the next few years we’re aiming to be West Cork’s first unicorn, and we’re on track to achieve that. This is something that is exciting for many reasons, including the fact that many of our own staff will reap the rewards of the hard work they’ve put in over the years.”
“We have also just launched a new offering to help venture-backed private companies to create and manage employee options as well as help their investors track the value of their ownership.”
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Taoiseach Micheál Martin added: "The story of Global Shares is a remarkable one, illustrating how from small beginnings a company can grow and develop a global footprint. It is an inspiring example of what can be achieved through talent and ambition."
The end-2017 balance sheet showed equity invested of $15.2m and accumulated losses of $10m. Private equity firm Motive Partners saw potential and invested $12.5m in 2018, and Global Shares increased its revenues by 37% through that year. The operating losses widened too, from $3.3m to $5.6m, as the company ramped up employment from 140 to 170.
More recently, the staff complement has expanded to 350, with several new office openings last year in locations that include Hong Kong and Beijing.
Based in Clonakilty, a town better known for black pudding and seaside tourism, Global Shares now employs 165 people locally and 37 people in Cork City. According to Houstoun, the company’s HQ at Clonakilty Technology Park is known locally as ‘Sili-Clon Valley’.
