US company Tegus said Ireland would give it ‘the perfect entry point’ to the EMEA region.
Tegus, a provider of business and market intelligence, is setting up its EMEA headquarters in Waterford city and plans to create up to 100 jobs over the next two years.
The US company has already started hiring for roles in business development, customer success, operations, sales and people management.
Tegus was founded in San Francisco in 2016 by Michael and Thomas Elnick, who are co-CEOs of the company. It collects research and data with the aim of helping clients make better investment decisions.
The business has been headquartered in Chicago since 2018 and now serves more than 1,000 customers worldwide, including investment firms, corporations and consultancies.
The new EMEA base in Waterford is Tegus’s first move outside North America and the company said the Irish team will help further build out its data sets by supporting local customers and a growing number of international companies on its platform.
“We are seeing more and more institutional investors and corporations incorporating qualitative and primary research into their processes to make better and faster decisions,” said Thomas Elnick.
“Ireland provides us with the perfect entry point to EMEA to support our growing global customer base and align our team with our customers’ success.”
The new team will initially be based at the Boxworks co-working space in Waterford while the company looks for a permanent office space in the city.
David Cashman, vice-president of EMEA at Tegus, said Waterford “boasts great talent” and the company will be able to offer “global-level tech jobs” to people in the region.
He also told the Irish Examiner that Dublin was considered for the EMEA base, but Waterford was chosen in the end for reasons such as the availability of graduates and living costs for employees.
Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar, TD, described the decision as “great news for the south-east and a real boost for Waterford city”.
“It once again demonstrates we have the skills and talent available in all parts of the country to attract foreign direct investment.”
Tegus’s expansion has been supported by the Irish Government through IDA Ireland. Mary Buckley, executive director of IDA, said the company would be a “welcome addition to the tech cluster” in the south-east of the country.
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