A provider of marketing technology to the global drinks and hospitality sector has secured multi-million-pound backing to grow in the US.
BGF has made a £2 million follow-on investment in Edinburgh-based MRM Global.
The company’s technology platform enables global drinks manufacturers and wholesalers to dramatically increase the level of marketing support they provide to independent hospitality and retail customers.
Its technology allows sales reps and customers to create on-demand marketing materials that increase brand visibility and product sales.
MRM has doubled its revenue since BGF’s original £2.6m investment in August 2020 and, despite the impact of the COVID-19 pandemic, doubled its headcount to 74, further developed its technology, and expanded into significant new markets including Australia, USA, Canada and most recently Singapore.
In the last three years, MRM has expanded internationally to over 34 countries and now works with world-leading beer, wine, spirits suppliers and distributors.
BGF’s follow-on funding will primarily be used to support the delivery of a major multi-year contract recently won with one of North America’s largest wine and spirits distributors.
“At a moment of significant opportunity for our business, this follow-on funding from BGF will boost our push into the US and help us meet an increased level of interest in our market-leading technology, from the drinks sector and beyond,” said Craig Letton, CEO at MRM.
“The hard work of our expanding team, close relationships with suppliers and positive customer feedback have all been instrumental in our positive progress to-date.”
Euan Baxter, an investor at BGF and board member of MRM Global, said: “We invested in MRM in 2020 during the pandemic because we saw the opportunity to back a disruptive and high-growth technology business that is changing the way global drinks brands drive visibility at the point of purchase.
“It’s fantastic to see the company win this transformative contract in the US and we look forward to working with their high-quality team to drive further positive industry impact.”