Innovative technology company Horizon8 is expected to create 50 jobs in Cork City centre.
The new office in Cork, formally opened in December, is the first European office for Horizon8 — adding to the company’s north American presence in Boston.
Horizon8 was created in 2004 as a strategic partnership between Boston-based State Street, and Hangzhou- based Insigma Technology and Zhejiang University. The company has roots in China’s Silicon Valley.
The firm offers a range of business consulting services and technology products, and builds bespoke software products to help clients in the financial services, retail, healthcare and pharmaceutical sectors improve their businesses.
It specialises in artificial intelligence, blockchain software and data analytics, with a new platform which processes and analyses vast quantities of data in real-time for use in anti-fraud and anti-money laundering operations.
Patrick Horgan, a graduate of UCC who recently relocated to Cork from London where he worked in the hedge fund industry, will head up the company’s new office.
“For Horizon8, Cork offers us access to a deep talent pool, European connectivity and most importantly a location which is surrounded by best-in-class academic institutions,” he said.
The firm opened its Boston office in 2009 and Mr Horgan said its growth in Europe has been mostly organic in recent years, through referrals from existing clients.
The opening of the European headquarters in Cork marks the start of a concerted effort to target growth across the EU.
Since its inception, Horizon8 has developed a suite of capabilities and products in professional services, data analytics, AI and blockchain technology, working with clients in a multitude of sectors.
Eileen Sharpe, divisional manager growth markets, Europe and emerging business at IDA Ireland, said: “Ireland continues to be a world class investment location for international companies and an excellent gateway location to Europe.
“The addition of Horizon8 to the cluster of tech companies that are already established in Cork is very welcome and further strengthens Cork’s reputation as a vibrant tech hub in Ireland.”