MPP Global Raises £12m ($15M) Series B Investment from Albion and Grafton Capital
MPP Global, a high growth technology business delivering digital monetization services to the media, sport and retail sectors, has completed a £12m ($15M) Series B financing round from Albion and Grafton Capital.
Based in Warrington, UK, MPP Global counts major global media companies including Sky, News UK, Daily Mail Group, L’Equipe and McClatchy among its clients. MPP Global’s platform, eSuite, converts and retains paid users for its clients, and is unique in its integration of identity management and automated subscription billing. Global digital media revenues totalled $90bn in 2016 and are forecast to grow 7% per annum through to 2020 (Statista).
Building on recent success, the investment will enable MPP Global to expand into new geographic markets and further evolve its eSuite platform. In preparation for the next phase of development, Keith Wallington, the former COO of Mimecast, has joined the business as Chairman.
Paul Johnson, MPP Global’s CEO and Co-Founder, said, “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. 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.”
Ed Lascelles, Partner, Albion, said, “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, 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 enterprises are choosing MPP Global’s integrated capabilities to maximize the lifetime value of their customers.”