New Senior Appointments to help drive US Growth
28 March 2022
ENGAGE XR Holdings Plc, a virtual reality ('VR') technology company, is pleased to announce that its new hires - Richard Allin and Kyle Horner - have officially joined the Group as it builds its US presence in preparation for the launch of its enterprise-focused Metaverse offering. The US is expected to be a major market for the new offering that remains on track to be launched in the second half of 2022 and codenamed 'ENGAGE Oasis'. According to Statista, the XR Metaverse market in America is currently valued at US$38.85 billion and, estimated to grow to over US$678 billion by 2030.
As part of the Group's plans, Richard Allin has been appointed as Chief Revenue Officer (CRO), to capitalise on the exponential growth opportunity the Group sees for 'ENGAGE Oasis'. Richard will have a sizable budget to build the Group's sales, lead generation and client onboarding teams, with the primary focus, on the US. Richard has more than 25 years of experience in sales, business development and relationship management within the US technology sector. Richard previously worked as CRO for the Americas at Assentis, the leading software company specialising in Customer Experience and Digital Transformation solutions.
Furthermore, Engage XR has hired a US-based Director of Marketing, Kyle Horner. Kyle will help deliver the Group's international growth plans and help target enterprise clients in the US. Kyle has over 10 years of experience in digital marketing and advertising, with specific expertise in the video games software industry. As previously announced, to support the Group's sales efforts in the US, 5W Public Relations ("5WPR"), one of the larger US PR companies, has been engaged. With guidance from Non-Executive Director, Kenny Jacobs (former Chief Marketing Officer of Ryanair), and Kyle, 5WPR will be tasked with ensuring ENGAGE becomes a widely recognised brand name in the US before the year-end.
The appointments of Richard and Kyle add to the Group's growing presence in the US. In the last twelve months, ENGAGE XR has worked with a number of major US clients, including a contract with 3M to use the ENGAGE platform to build its own MetaWorld "3M Home".
David Whelan, CEO, said: "ENGAGE XR has grown and scaled over the last two years, as demand and interest in ENGAGE has increased, and we have recently reached the milestone of 100 employees. We expect 2022 to far eclipse the achievements of previous years with the US set to be at the heart of our continued growth. Therefore, we are excited to welcome Richard and Kyle to the team as we build our US presence and look to deliver against our near term objective to make ENGAGE a major brand. With our planned Metaverse set to launch later this year, we believe ENGAGE is well-positioned as the enterprise solution of choice for companies in a variety of industries seeking to enter the Metaverse to host meetings, events, product launches, and conduct training content. It provides a business orientated alternative to other Metaverse offers in the market whose aim is more entertainment and consumer focused. We look forward to Richard and Kyle playing a major role in our development."
For further information, please contact:
ENGAGE XR Holdings Plc
David Whelan, CEO
Séamus Larrissey, CFO
Sandra Whelan, COO
Tel: +353 87 665 6708
finnCap Ltd (Nominated Adviser & Joint Broker)
Marc Milmo / Seamus Fricker / James Balicki (Corporate Finance)
Sunila de Silva (ECM)
Tel: +44 (0) 20 7220 0500
Shard Capital Partners LLP (Joint Broker)
Damon Heath / Erik Woolgar
Tel: +44 (0) 20 7186 9952
Davy (Joint Broker & Euronext Growth Advisor)
Barry Murphy / Lauren O'Sullivan / Oisin Morgan
Tel: +353 1 679 6363
SEC Newgate (Financial PR)
Robin Tozer / Isabelle Smurfit
Tel: +44 (0)7540 106 366
About ENGAGE XR
ENGAGE XR Holdings plc (AIM: EXR; Euronext Growth: EXR) is a virtual reality ('VR') technology company focused on becoming a leading global provider of virtual communications solutions through its proprietary software platform, ENGAGE. ENGAGE provides users with a platform for creating, sharing, and delivering VR content for education, training, and online events through its three solutions: Virtual Campus, Virtual Office, and Virtual Events.
ENGAGE is currently developing a new fully featured corporate metaverse codenamed "ENGAGE Oasis" with the launch expected in the first half of 2022.
EXR is listed on AIM in London and on the Enterprise Securities Market, a market regulated by Euronext Dublin.
For further information, please visit: www.engagexrholdings.com (LinkedIn: @Engage XR Holdings plc Twitter: @engage_xr)