Silver Bullet Data Services Group plc, a provider of digital transformation services and products, has raised around £1 million through a share placing.

The new shares equate to approximately 8.95% of the London-listed company’s currently issued share capital.

The net proceeds will be used to provide the working capital required to facilitate significant recent growth in new contract wins and further accelerate the expansion of the company’s new 4D AI-powered insights platform. 

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Silverbullet, which drives marketing performance and return on investment for clients, says it has experienced strong revenue growth this year as it moves towards a position of positive EBITDA in early FY24.

Revenues have increased by 79% and overall operating costs reduced by 8% in H1 2023 versus H1 2022.

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