Carlow tech company opens new Chicago office
Security specialist company Netwatch is set to open a new office in Chicago. The move will create 15 new jobs in the area. The company has chosen Chicago as its North-western location as it is one of the fastest growing regions in the USA for its transportation and logistics hub, built around Chicago O’ Hare International Airport.
Netwatch predicts major demand for its new product offerings coming from Netwatch Visual Labs, which are based around mobile video protection of high value goods and video based fire detection systems for warehouses. The company will seek to recruit local Chicago talent in areas such as sales and customer service.
This job creation drive follows Netwatch’s most recent funding round last year which saw an investment of close to €20 million in the business to support its international growth strategy. It was the largest funding round in Netwatch to date, supported by the Department of Jobs, Enterprise and Innovation through Enterprise Ireland’s investment in the BDO Development Capital Fund.
Founded in 2002 in Carlow, Netwatch initially grew its service in Ireland in the UK and launched in the US in 2012. US revenues alone rose by 113% in 2015, a year in which overall sales jumped 20% from €9.3 million to €11.2 million. New contract wins increased by 45% from €11 million to €16 million that year.
The new Chicago office will serve as a global excellence centre for the company, focusing mainly on the areas of sales and customer support. The office will facilitate Netwatch’s international expansion, as well as supporting further job creation in Ireland. Thirty five Irish positions have already been filled since October 2016 and a further 15 Irish jobs and 10 US jobs will be created in 2017.
Speaking at the ribbon cutting event, An Taoiseach, Enda Kenny said, “Netwatch’s office opening in Chicago continues to demonstrate how a homegrown Irish company can compete on a global scale. In 15 years, Netwatch has rapidly grown from its base in Carlow to work across four continents, and continues to conquer new markets. Netwatch and its founders have demonstrated how Irish innovation and acumen can set Irish companies apart on a global stage.”