Buymedia
Empowering marketing professionals with the next generation of AI-powered data-driven advertising technology.
Empowering marketing professionals with the next generation of AI-powered data-driven advertising technology.
Buymedia, a pioneering advertising platform, are democratising access to data-driven advertising tools with next gen AI-powered technology, all from their headquarters in Galway, Ireland.
So how did Buymedia go from Enterprise Ireland’s New Frontiers programme to sales surpassing €7 million in just 8 years?
Fergal O’Connor, Buymedia’s CEO and founder, attributes the company’s success in part to the early-stage support they received from the Western Development Commision:
The Western Development Commission played a vital role in our early development and ability to scale, which, together with the support of the regional ecosystem, in particular the Local Enterprise Office, meant we had the foundation, the finance, and the fortitude to make it happen.
Reflecting on Buymedia’s achievements and the recent job announcement, Allan Mulrooney, CEO of the Western Development Commission, agrees that it underscores the significance of early-stage support: “Our Investment fund serves as a unique catalyst for companies in the West and North West. The timely backing during crucial stages often propels these companies forward, paving the way for significant growth. Collaborating with other agencies and stakeholders, Buymedia’s journey mirrors that of many others who’ve benefited from this initial boost. Their recent jobs announcement now stands as a testament to shared success for the WDC, Buymedia and the broader regional ecosystem who have supported their journey.”
Trajectory to present-day success, with the promise of an exhilarating future
Company formation 2015: Set up by Fergal O’Connor to “help businesses and media buyers to buy the most effective promotional campaigns in a timely and cost-effective manner”.
Early-stage investment: In 2019 and with 9 employees, the WDC invested €110,000 for the purposes of working capital and product development. (It is worth noting that our portfolio companies often cite this early-stage investment as pivotal to future success.)
Staggering growth: Buymedia has grown rapidly since inception, with sales surpassing €7m in 2023, a 63% growth on 2022 and a multiple of four times sales in 2021.
Key customers: Buymedia’s target market is the corporate and larger SME market with customers such as EIR, DID Electrical, Tipperary Crystal, Radisson, Jysk, Unicef Ireland and Ashford Castle.
Export sales to UK: In 2023 Buymedia entered the UK market.
Product development: Buymedia continues to invest in product development, adding new features in 2023. Its new generative AI tools use predictive analytics to generate recommendations for future ad campaigns based on past performance and industry trends, thus equipping marketing professionals with powerful tools and insightful data.
Awards 2022 and 2023: Buymedia was ranked the fifth fastest-growing tech company in Ireland by Deloitte’s Technology Fast 50 Awards 2023, up from 8th the previous year.
Job creation: With 9 employees when they initially engaged WDC, growing to 16 recently, their latest big announcement is that they are to create over 100 new jobs at their Galway base over the next four years. This job creation reinforces their commitment to fostering local talent while contributing to their global impact.
New HQ: The jobs announcement coincided with the opening of Buymedia’s brand new headquarters in Platform94, a state-of-the-art technology innovation centre in Galway. During the opening, Buymedia showcased a world-exclusive demonstration of its groundbreaking generative AI tools in the presence of Minister Dara Calleary, Minister of State for Trade Promotion, Digital and Company Regulation, Leo Clancy, CEO, Enterprise Ireland and other esteemed guests. Video highlights of the event can be viewed here.
Internationalisation: Buymedia is building an impressive network of international partnerships while concurrently seeking strategic investments to propel its ambitious global expansion plans. This dual approach paves the way for establishing a strong global presence and solidifying its position as a major player in the international AdTech space, all from its Galway base.
In summary, by democratising access to sophisticated data-driven tools, Buymedia empowers businesses of all sizes, regardless of budget or experience, to achieve remarkable results. This inclusive approach levels the playing field, fostering a more vibrant and competitive marketing landscape.
Buymedia’s story is one of remarkable growth, fostered by a collaborative spirit and a dedication to shaping the future of advertising with cutting-edge AI technology. From a €110,000 seed investment from WDC to becoming a global leader in AdTech, Buymedia now stands poised for an exhilarating future. Not only revolutionising advertising but also contributing to the local economy in the West of Ireland all the while positioning it at the heart of one of the most exciting technological innovations this century has to offer.