Cork wealth managers Quintas inject €1m into customer service firm CX 

Latest round of funding will go towards CX Academy's 'ambitious expansion plans' and growing revenue

Michael Killeen and Julian Douglas, co-founders of The CX Academy

Cork accountancy and wealth management firm Quintas Capital is investing €1m in customer experience learning provider, CX Academy as part of its latest round of funding. 

With a further €500,000 coming from existing investors, the €1.5m in total will go towards "ambitious expansion plans" for the academy.

Headquartered in Dublin, CX was established by Michael Killeen and Julian Douglas in 2019. Since its inception, the firm has grown to employ 11 people and support five contractors, with the last five years seeing over 5,000 practitioners trained by CX.

Chief executive of the academy, Julian Douglas said the fundraising is happening at a "very exciting time," adding that rapid developments in AI are set to have a "major" impact on CX activity. 

"The success of our latest round of fundraising will enable us to fund our ambitious expansion plans and will help us to grow our revenue, particularly through increased marketing and future course development. We will also be investing in the recruitment of five senior executives and those new hires will enable us to meet our growth targets," said Mr Douglas.

Brian Devine from The EIIS Innovation Fund, which is managed by Quintas Capital, said: "Currently 95% of The CX Academy’s turnover is generated abroad and we believe the company is ideally placed to tap into the global CX online education market and grow its market share in the coming years.”

"We see significant opportunities in these territories and elsewhere for The CX Academy.”

Formed in 2005, Quintas is based in Cork city and currently employs 70 people. The firm specialises in corporate finance, banking, debt resolution and insolvency as well as mergers and acquisitions and was acquired last year by UK and Irish group, Xeinadin for an undisclosed amount.