An expanding Bristol-based group of tech companies has raised more than £2m as it looks to launch what it describes as an “Amazon” for underserved markets.
Narwhal Media Group (NMG), is owned by local businessman Luke Sartain and is based at Temple Meads. It operates a number of firms, including:
- upUgo – a digital marketing agency providing services including SEO;
- Lasso Leads – a data analytics and lead generation business;
- GoRank – a white label marketing product for businesses
The group raised the proceeds in just over three weeks during the second part of its pre-series A fundraising round, after it secured £1.2m in funding earlier this year.
NMG, which has previously been backed by Clearbrook Capital Partners LLP founder Robin Saunders, PureGym founder Peter Roberts and former Dragons’ Den contestant Imran Hakim, said during the raise it had also agreed terms to acquire a “significant brand” in the home improvements market, with completion of the deal expected in the first quarter of the next financial year.
NMG said its new platform will be designed to “fast-stream” sales to increase the revenues of partnering businesses operating in sectors such as renewable energy, finance and healthcare.
NMG said customers will be able to compare prices of services such as “heat pumps, solar panels, hearing aids and replacement windows and doors” and then to buy them either directly from its partners or its own brand alternatives.
Mr Sartain said: “As NMG grows our intention is to focus on our new main comparison website and modernising the way people can compare and buy services online.
“Our vision is to provide value to consumers, making purchasing decisions easier and more frictionless whilst allowing brands to benefit from the transparency and technology that we utilise to match potential consumers to these brands. I see the site as becoming the Amazon for services companies.”
Mr Sartain's company upUgo is based in Stokes Croft and moved all its staff over to a four-day week without reducing pay or holiday in 2020.
Brands using NMG’s technology include double glazing firm Safestyle PLC, Hotel Chocolat and OVO energy.
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