TRALEE, County Kerry, Ireland, Oct. 19 /PRNewswire/ -- PulseLearning (which was founded in 1999 with an investment of ten euro and was initially run on a second-hand computer set up in a child's bedroom in a Tralee, County Kerry suburban semi), has been named fastest growing IT company in Ireland at the '2007 Deloitte Technology Fast 50 Awards.'
The Fast 50 Awards, now in their eighth year, rank the 50 fastest growing technology companies in the Republic of Ireland and Northern Ireland based on percentage revenue growth over a five-year period. Since PulseLearning was founded, its revenues have achieved a turnover growth of 6000%. The company is expecting to double that growth this year, for the sixth year in a row.
This is the second major award win for PulseLearning in the past two weeks. On Monday last (15 October) it announced that it had won the Gold Award at the CLO Learning Leaders Awards in Arizona. On that occasion, it beat off stiff competition from fourteen companies in seven countries around the world.
PulseLearning, which is now valued at 30 million euro, lists NASA and billion dollar-plus-turnover giants Dell, Pfizer, Philips, Schering-Plough, Bank of America and CA (formerly Computer Associates) among its clients.
It was founded by former manufacturing management specialist, Jim Breen who, for the first 12 months, ran the company on a second-hand PC set up in his young son's bedroom. Jim Breen has been nominated for the 'Ernst & Young 2007 Entrepreneur of the Year Award' (winner due to be announced on 25 October next).
PulseLearning, which now has offices in New York, Boston, Arizona, New Brunswick (Canada), Tralee and Limerick, is the second Irish eLearning company in recent years to have secured a high-profile presence in the global eLearning market. In that respect, its successes to date are frequently compared with those of the Dublin-based eLearning operation Riverdeep which made Irish corporate history last year when it bought US publisher Houghton Mifflin for almost US$5 billion.
Recalling the early days of the company's existence, Jim Breen (37) says: "In 1999, when I set up PulseLearning, I convinced my then six-year-old daughter and three-year-old son to share a bedroom so that I could use the other bedroom as an office. The deal was closed when I told them their sacrifice would be remembered as the place where the global giant PulseLearning was born. I find that stories about giants usually work with children."
PulseLearning specialises in producing learning solutions for companies that are operating in highly regulated environments worldwide -- sectors such as financial services, pharmaceuticals manufacturing, medicine/healthcare and technology.
ADDITIONAL BACKGROUND: PULSELEARNING
Recent innovative technologies being developed by PulseLearning include Semantic Learning, a revolutionary 'intelligent' software which anticipates precisely what information a person undergoing training needs, and where their specific learning deficits are. Enterprise Ireland has contributed euro 1.5 million towards the R&D costs of this technology. The Semantic Learning R&D project is a unique initiative: it is being driven by PulseLearning and a small number of other leading Irish eLearning companies; is supported by the Irish government, and is being run from the DERI Institute in Galway.
PulseLearning's commercial success is largely due to two factors: its reputation for cutting by up to 50% the cost to companies of providing essential employee 'on-the-job' training programmes; its ability to take over the entire operation of a client's training division, thus leaving client company executives free to get on with the task of running their business.
"I am often asked for an easy-to-understand description of what it is exactly that PulseLearning does. Simply put, we sell profit and profitability to our clients. We sell solutions to our clients that help them become more profitable. We provide them with analytical tools that demonstrate where training is needed; which technologies are best suited to their challenges and, most importantly, what effect our training methods are having on their profitability, earnings per share, 'time-to-market', and employee competence and development", PulseLearning founder and CEO Jim Breen notes.
All eLearning software produced by PulseLearning is customised so that it may be used on a continual basis and 'on the job' by a dispersed workforce operating in any location and using a variety of technology -- PCs and laptops, iPods, mobile phones and over the internet.
The majority of PulseLearning's client companies are US-headquartered multinationals that have a global reach.
Biographical note Jim Breen:
Galway-born Jim Breen (37) graduated with a degree in Civil Engineering from NUI Galway in 1991. In 2007, he completed the Stanford University California Executive Development Programme along with 30 other Irish-based CEOs, all of whom were selected and sponsored by Enterprise Ireland. Before setting up PulseLearning in 1999, Breen held senior management positions with the KOSTAL Group and Kleinhuis, where he introduced significant cost savings through the implementation of process improvement ideas. In 1996 he set up a subsidiary manufacturing operation for the German multinational Kleinhuis in Tralee. He resigned from running that company in 1999 to establish PulseLearning.
Recent business successes
Key new business wins by PulseLearning in recent months as follows:
-- Signed a Global MSA (master services agreement) with Pfizer. This gives
PulseLearning an umbrella contract covering all of Pfizer's employee
trainee projects in countries worldwide.
-- Appointed a 'preferred vendor' for Bank of America at a time when Bank
of America had cut their list of preferred vendors by 80%.
PulseLearning was the only new vendor added.
-- Signed a Master Services Agreement with Con Edison in the US.
PulseLearning is now one of Con Edison's three preferred vendors.
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