Led by Limerick-man Eddie Ryan, Kneat Solutions committed to further growth in the region following a public offering in 2021.
Irish-founded Canadian company Kneat Solutions plans to expand its team after opening a new 13,000 sq ft facility in Limerick.
Up to 100 jobs will be created at the new site in the National Technology Park just outside Limerick city. Jobs will be created across sales, marketing, R&D and customer success, bringing Kneat’s total workforce to more than 300.
Founded in Limerick in 2007, Kneat underwent a reverse takeover from Canadian company Fortune Bay in 2016. The deal saw Kneat listed on the Toronto Stock Exchange but its operational headquarters remained in Limerick and its CEO and co-founder, Irishman Eddie Ryan, continued in his role.
“As a Limerick man I have a deep connection to the people and the city of Limerick, which is why I’m very happy to share the news today that Kneat is announcing up to 100 new jobs to be filled over the coming year,” said Ryan. He was speaking at an opening ceremony attended by Taoiseach Micheál Martin, TD, and Enterprise Ireland CEO Leo Clancy.
Ryan founded the company with Kevin Fitzgerald and Brian Ahearne. Its cloud-based software, which supports the digitisation and automation of validation processes for life sciences companies, has attracted a number of high-profile biopharma companies as clients.
Significant growth driven by the life sciences sector’s accelerated digital transformation saw annual recurring revenue from Kneat’s SaaS business alone more than double in 2020.
In a public offering last year, Kneat sold more than 6.7m common shares at a price of C$3 each, closing more than C$20m in financing, and promised expansion at its Irish base. At the time, Ryan told the Irish Times, “Everything we do is managed from Limerick and the plan is to grow operations there further.”
In December, Kneat was listed as Ireland’s third-fastest growing technology company in the Deloitte Fast 50.
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