Donegal firm 3D issue to create 24 new jobs after funding round

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

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

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

It was set up in 2007, and now has around 1,500 clients 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 firm offers staff a four-day working week, which it says has increased sales and morale.

Chief executive officer and founder Paul McNulty told the Irish Independent last year that given the choice between a pay rise and a day off, all staff chose extra leisure time.

As well as new jobs, the funding will help to fund product development and expand in existing and new markets.

Revenues at 3D Issue are expected to grow six-fold to €6m over the next three years, the company said in a statement.

“This is an exciting period of growth and innovation for our company and we are delighted to have the backing of Furthr VC and the Western Development Commission,” Mr McNulty said on Friday.

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

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

Furthr VC is an early-stage venture fund set up in 2019, 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 in the last 30 years.

Furthr VC managing partner Richard Watson said 3D Issue was “setting itself apart from competitors and is well-positioned to become a major player in the global digital publishing market”.

The 20-year-old WDC runs a €77m investment fund for companies in the west and north-west of Ireland. Initially supported by the state, it has been self-funded since 2010.

“3D Issue has demonstrated global ambition from Ireland’s Atlantic Coast and our team are delighted to support their journey as they scale up the operation and grow their staff numbers,” said WDC chief executive Tomás Ó Síocháin.

A report by consultants Indecon published this week found that WDC has generated a return close to 2.5 times its original value, with the firms it supports injecting €3.3bn to Ireland’s economy over the past two decades.

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