High-growth technology firm MPP Global has completed a £12m ($15M) Series B financing round from Albion Ventures and Grafton Capital.
MPP Global counts major global media companies including Sky, News UK, Daily Mail Group, L’Equipe and McClatchy among its clients.
“We are incredibly excited to be embarking on the next chapter of MPP Global’s evolution, embracing new markets and launching a stream of new eSuite features,” said Paul Johnson, MPP Global’s CEO and co-founder.
In preparation for the next phase of development, Keith Wallington, the former COO of Mimecast, has joined the business as Chairman.
“We welcome Keith to the team as we look forward to raising international awareness of our leading eSuite platform in the United States and Asia Pacific region,” said Johnson.
Ed Lascelles, Partner at Albion Ventures, also voiced his support for the deal, saying: “This is a compelling opportunity for Albion to invest in a market-leading, high growth and profitable SaaS business run by an entrepreneurial and motivated team.
“We see the market for paid OTT content growing rapidly over the medium term and MPP Global is well placed to consolidate its position as the category leader.”
Oliver Thomas, partner and co-founder at Grafton Capital said: “Paul Johnson, Chris Cheney and their team have already demonstrated success in building a profitable, growing business which consistently outperforms major competitors worldwide.
“We are excited to be supporting the company as a growing number of media, sports and subscription retail enterprise businesses are choosing MPP Global’s integrated capabilities to maximize the lifetime value of their customers.”
MPP Global’s eSuite platform converts and retains paid users for its clients, and is unique in its integration of identity management, customer relationship management and automated subscription billing.
Global digital media revenues totalled $90 billion in 2016 and are forecast to grow 7 percent per year through to 2020 (Statista).