Growth capital investor BGF has made a £2m follow-on investment in Edinburgh-based MRM Global.
The company provides marketing technology to the hospitality sector which allows drinks manufacturers and wholesalers to increase the level of support they provide to pubs, bars and retail customers.
Its platform allows sales reps and customers to quickly create 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 pandemic, the company has doubled its headcount to 74 and expanded into new markets, including Australia, the US, Canada, and most recently, Singapore.
In the last three years, MRM has expanded internationally to more than 34 countries and now works with a variety of beer, wine, spirits suppliers and distributors.
BGF’s follow-on funding will primarily be used to support the delivery of a multi-year contract recently won with one of North America’s largest wine and spirits distributors.
Craig Letton, chief executive at MRM, said: “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.
“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, added: “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.”
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