Mercia Asset Management PLC £7.5million syndicated investment into Voxpopme
September 10 2019 - 2:02AM
RNS Non-Regulatory
TIDMMERC
Mercia Asset Management PLC
10 September 2019
RNS REACH 10 September 2019
Mercia Asset Management PLC
("Mercia")
GBP7.5million syndicated investment into Voxpopme
Mercia Asset Management PLC (AIM: MERC), the proactive,
regionally focused specialist asset manager, has completed a
GBP2.0million direct investment as part of a GBP7.5million
syndicated funding round into Birmingham-based software company
Voxpopme Limited ("Voxpopme").
The investment round has attracted two new investors into the
business, Chicago-based Origin Ventures and NVM Private Equity.
Mercia's direct equity stake is now 23.7%.
Voxpopme is a video insights platform that provides innovative
video analytics for internationally renowned clients such as
Microsoft, Airbnb, Coca-Cola, Verizon and Expedia. The business has
already demonstrated rapid revenue growth operating in a market
estimated to be worth c.$46billion in market research and
c.$17billion in customer experience. Over the last 18 months
Voxpopme has delivered strong revenue growth in both the US and
Europe, with year-on-year annual recurring revenue growth exceeding
100%.
Dave Carruthers CEO of Voxpopme said: "We're delighted to
complete this funding round which demonstrates the impact video
feedback is having on insights and customer experience teams across
the globe, where demand is growing considerably. We plan to use the
investment to both scale the team and invest in product
development, including our video analytics engine and additional
integration with other SaaS solutions, which will lead to further
value creation for our customers."
Julian Viggars, Chief Investment Officer of Mercia Asset
Management PLC said: "Voxpopme is enjoying rapid revenue growth
built from both domestic and US sales. The company is recognised as
a leader in the agile qualitative research market. The company's
reputation across multiple industry sectors is particularly
impressive, and we are delighted to welcome two new high-profile
third-party investors to Voxpopme's share register."
Ends
For further information, please contact:
Mercia Asset Management PLC +44 (0)330 223 1430
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial
Officer
www.mercia.co.uk
Canaccord Genuity Limited +44 (0)20 7523 8000
Simon Bridges, David Tyrrell (NOMAD
and Broker)
Buchanan +44 (0)20 7466 5000
Chris Lane, Vicky Hayns, Stephanie
Watson
www.buchanan.uk.com
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on
supporting regional SMEs to achieve their growth aspirations.
Mercia provides capital across its four asset classes of balance
sheet, venture, private equity and debt capital; the Group's
'Complete Capital Solution'. The Group initially nurtures
businesses via its third-party funds under management, then over
time Mercia can provide further funding to the most promising
companies, by deploying direct investment follow-on capital from
its own balance sheet.
The Group has a strong UK regional footprint through its eight
offices, 19 university partnerships and extensive personal
networks, providing it with access to high-quality deal flow.
Mercia has over GBP500million of assets under management and, since
its IPO in December 2014, has invested over GBP84million across its
direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the epic
"MERC".
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END
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