A Manchester-based digital media company has received a significant £5.5m in growth capital from BGF, marking a major milestone in its North American expansion journey. The latest investment follows a previous multimillion-pound deal, underlining a period of substantial financial activity for the company.
Meanwhile, the digital media enterprise has experienced remarkable growth with BGF’s backing, transforming its follower base and significantly increasing its engagement metrics. Therefore, this new capital injection is set to further accelerate its ambitious global expansion plans.
New Investment Secured
Manchester-based digital media company has received an additional £5.5m in growth capital from BGF. This is aimed at boosting its operations in North America.
The latest funding follows a previous multimillion-pound investment by BGF, announced in November 2022. This investment is part of a series of deals by BGF in North West over the last six months.
Rapid Growth and Expansion
The digital media company has seen strong growth with BGF’s support. The company’s mission is to create highly engaged digital audiences globally.
They have expanded their followers from 40 million to 113 million, across 46 brands. This generates 2.5 billion monthly views and 1.5 billion minutes watched each month.
Their new talent offering, KOMI Talent, has grown by 130% year-on-year.
Leadership and Vision
Founded in 2015, the company is led by co-founder and Chief Executive, Andrew Trotman, Group Managing Director Sam Lenehan, and CFO Tom Moran.
Sam Lenehan noted, “We’ve experienced a period of good growth with BGF’s support and created strong foundations to accelerate our global expansion.”
He added that they are looking into US acquisitions to drive innovation and grow rapidly as a combined entity.
Innovative Approach
Andrew Trotman stated, “We pride ourselves on building high growth, digital first audiences, who are entertained by the best stories, told by the best creators.”
The company works across all major social media platforms, creating and curating engaging content to entertain its global audience.
They collaborate with content creators, brands, media agencies, and production houses to drive social media strategies achieving business objectives.
Strategic Partnerships
Additionally, they license expertly-curated content used by major media outlets and support influencers’ content generation.
Rhys Davenport, leading the deal for BGF, said, “The company has significant potential for global growth and a track record of scaling its platform organically.”
BGF’s Active Role
BGF is a significant growth capital investor in the UK and Ireland. In 2024, their North West team invested in businesses including Eleven Sports Media and Elite Dynamics.
BGF also had a successful exit from Unique X, a provider of digital cinema software solutions, after securing new investment from Kartesia.
Continued Success
BGF’s North West team has been very active in the first half of 2024. Businesses they back have achieved remarkable growth and have made a substantial impact on the North West growth economy.
Barry Jackson, head of BGF in the North, stated, “The team has continued to demonstrate the strength of BGF’s investment model, backing businesses to achieve their growth ambitions.”
Looking Ahead
With the additional investment, the Manchester-based digital media company is poised for further growth. They will leverage this funding to explore new opportunities in North America and beyond.
In summary, the additional £5.5m investment is instrumental for the Manchester-based digital media company’s continued success and expansion into North America. The company’s dynamic growth and innovative approach are set to revolutionise the digital media landscape.
With BGF’s backing, the future looks promising for this ambitious enterprise. They are ready to explore and conquer new opportunities in the ever-evolving digital world.