Paradyn, a cybersecurity company based in Cork, anticipates reaching revenue of €10 million this year, representing a 25 per cent increase compared to 2024.
Founded in 2007 by Cillian McCarthy, Pat Dowling, Paul Casey and Rob Norton, Paradyn operates out of Little Island and currently employs 50 staff members. Last year, the company generated €8 million in revenue.
“We protect our customers from cyberattacks. We do this by providing them with products and solutions coupled with expert-level support. Through this we give them peace of mind that cyber criminals can not get access to their data,” McCarthy told the Business Post.
“We cover cyber defence with products from Palo Alto Networks, Cisco and Sophos. Then our team of cybersecurity engineers provide support so our customers can reach out to us at any time.”
The co-founders all had experience across the security sector prior to starting Paradyn. It was their familiarity with each other that led to the creation of this company.
“We had all worked together previously before going our separate ways. Then three of us had another business called Cadoo, which we sold recently, and once we saw the requirement for the skills we had that led to the start of Paradyn,” McCarthy said.
“The four of us saw an opportunity to provide this combination of products and support to businesses. We started out building high-capacity networks for our customers. We’ve evolved that into a cybersecurity company.”
The transition into cyber has proven quite beneficial, as the core organisations it initially collaborated with had specific needs in this area.
“We started out, and are still very strong in, working with the working sector. We were building out computer networks and high-capacity wireless networks. Then we transitioned into the managed cybersecurity practice, which we are today,” McCarthy said.
The company is supported by Enterprise Ireland and McCarthy praised the agency for the help it had provided Paradyn.
“Enterprise Ireland has been with us throughout the journey. They have provided us with funding, training and advice over the years. More recently, they have helped a lot with our launch of a new backup and disaster recovery product under a new venture called Vault365,” McCarthy said.
“That has been very successful in Ireland and we have released it in the UK, where it has been really successful for us. Enterprise Ireland has helped a lot.”
Vault365 is Paradyn’s first big move into international markets and McCarthy is confident the business can build on this success. In addition to the move into the UK, Paradyn is aiming to grow via acquisition.
“Between organic growth and some potential acquisitions, we hope to double the size of the business over the next 18 to 24 months. We’re at scale now and feel like we are generating enough revenue to grow substantially.”
