Qstream opens a new international HQ in Dublin

Software company Qstream has opened a new international headquarters in Dublin, with capacity for 50 employees.

The company, which was spun out of Harvard University in 2008, currently employs 25 people in Dublin, with this number expected to double over the next two years according to chief executive Duncan Lennox.

“It’s not just sales and services roles. All our core engineering is based in Dublin and we build our product here,” he said.

“The level of engineering, sales and service talent that we’ve been able to attract in Dublin makes this an important location for us,” he added.

He said the new headquarters at Westmoreland House in Ranelagh is three times the size of the company’s previous office in the city, and will be the epicentre of the company’s software development.

“Our expansion globally is significant as businesses continue to rely more heavily on data-driven insights to improve sales team performance, producing accelerated demand for our solutions,” he added.

“I’d say we will double the workforce in Dublin in the next two years. We will also be adding staff in the US,” he added.

Qstream raised $4 million (€3.3 million) in venture capital funding earlier this year to accelerate its expansion in the predictive analytics sector. The $4 million in funding came from Excel Venture Management, Launchpad Venture Group and Dublin-based Frontline Ventures.

The firm's software platform, which launched in 2011, is used by almost 200,000 sales reps from companies such as Pfizer, Boston Scientific, Novartis and Bristol-Myers Squibb.

The company began targeting the financial and technology industries this year, securing deals with Mastercard, Wells Fargo and HP among others. The platform is used by 14 of the world’s top 15 pharmaceutical companies, to manage the effectiveness of their front-line managers and sales channels.