New Direct Investment in Voxpopme
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RNS Reach |
22 March 2018 |
Mercia Technologies PLC
("Mercia" or the "Group")
New Direct Investment in Voxpopme
Mercia Technologies PLC (AIM: MERC), the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to announce a new direct investment into Voxpopme Limited ("Voxpopme"), a leading platform that provides innovative video analytics for internationally renowned clients such as Microsoft, Tesco, Verizon and Accenture. The investment is part of Mercia's growth strategy of investing in innovative, young technology companies from the UK regions, which have demonstrated their ability to expand internationally by securing a blue-chip international client base.
Mercia's investment of £1.0million into the Birmingham-based technology company gives the Group a direct equity holding of 12.3%. This capital follows on from an initial investment by Mercia's third party managed funds.
Voxpopme has scaled quickly, growing to 38 people with offices in Birmingham, Salt Lake City, Sydney and London, and this funding will support its further ambitious international growth plans, particularly in the US.
Founded in 2013, Voxpopme has developed a video analytics platform which enables companies to gain a much deeper understanding of consumers' attitudes and opinions, including the use of facial expression analysis. By bringing together both qualitative and quantitative data, Voxpopme removes the pain points typically associated with video insight, making video fast, easy and instant for market researchers and customer experience professionals.
Dave Carruthers, Co-founder and CEO of Voxpopme, said: "With our cutting-edge technology, deep industry knowledge and international footprint, Voxpopme has built a fully functioning platform to support accelerated growth. It is personally gratifying to see a high-quality investor such as Mercia join our share register ahead of what, we believe, will be a period of significant commercial progress. We look forward to continuing to develop our partnership with Mercia, which has shown great confidence in our disruptive approach."
Dr Mark Payton, CEO of Mercia Technologies PLC, said: "Having worked closely with Voxpopme, we have seen the business grow rapidly both in Europe and the US. We are pleased to continue to support Voxpopme as it joins our direct investment portfolio of 'Emerging Stars'. This is another example of the Mercia Model sourcing and scaling a high-quality technology business from the UK regions that we firmly believe will become a successful, valuable international businesses delivering meaningful shareholder returns over the medium term."
For further information, please contact:
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Mercia Technologies PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer
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+44 (0)330 223 1430
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Cenkos Securities plc Stephen Keys, Camilla Hume (NOMAD and Joint Broker)
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+44 (0)20 7397 8900
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Canaccord Genuity Limited |
+44 (0)20 7523 8000 |
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Simon Bridges, Emma Gabriel (Joint Broker) |
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Buchanan Bobby Morse, Chris Lane, Stephanie Watson |
+44 (0)20 7466 5000 |
About Mercia Technologies PLC
Mercia is a national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions. Mercia benefits from 19 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".
Mercia's 'Complete Capital Solution' initially nurtures businesses via its third party funds (now with circa £350.0million under management following recent mandate wins) and then over time Mercia can provide further funding to its Emerging Stars by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over £46.0million directly across its portfolio of 'Emerging Stars'.
About Voxpopme
Founded in 2013, Voxpopme has quickly established an impressive global client list of brands and agencies and has offices across North America, Europe and Asia-Pacific. The Voxpopme platform allows clients to quickly capture video within any survey, analyse at scale and share with ease - Voxpopme for a deeper understanding and greater impact.
For more information: www.voxpopme.com
This information is provided by RNS
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