Artificial intelligence company LogoGrab is to establish a global headquarters in Dublin, supporting its planned global expansion.

The Irish-based company, which last year saw €3.5 million in new contract revenue and year-on-year growth of 94 per cent, has taken offices on Thomas Street in the city centre.

LogoGrab is planning to hire more staff for its marketing, sales and operations functions. It currently employs about 12 people in Dublin, and last month announced its intention to add more staff, although cofounder Luca Boschin at the time said the company would remain lean. The company is set to hire another 10 people in the coming months.

“For LogoGrab therefore, it’s not a question of finding opportunities to scale our business, but more so ensuring that we focus on the right opportunities from the choice of many and don’t get distracted by ones that will cause us to scale slower than we know is possible,” Mr Boschin said. “We are thrilled to be moving into our new global headquarters in Dublin in the coming weeks, and look forward to a successful year ahead with new recruits, new clients in new sectors and continued support and growth from our current valued partners.”

LogoGrab offers technology to help with brand protection and authentication, including ad-detection technology that can provide businesses with insights on what their competitors are doing – and spending – online. The near real-time intelligence can be used by media monitoring companies to help clients quickly adapt their advertising strategies, based on rivals’ activity.

LogoGrab has offices in New York and Dublin, and counts BrandWatch, Veritone, Synthesio and De La Rue among its partners.

“What we see as at the core of our offering and success is our Adaptive Learning Engine. It’s already been at the centre of our success and thanks to its adaptability, it’s the engine that’s going to help us scale further and faster in 2020,” said CTO and co-founder of LogoGrab, Alessandro Prest. “It is without a doubt the dedication and talent of our existing incredible team, and the unique availability of truly exceptional talent in Ireland that makes all this possible.”