BGF invests £2.6m in MRM Global
Investors in this round: BGF
Edinburgh-based MRM Global, an industry-leading provider of marketing technology to the global drinks and hospitality sector, has received a £2.6m investment from BGF.
The investment will be used to fund further international growth. MRM Global intend to focus on expanding their presence in North America, where they are seeing strong traction.
The business will also invest in the development of its tech platform. They plan to triple the size of their Edinburgh-based software engineering team so they can accelerate their product roadmap.
MRM’s platform enables global drinks manufacturers and wholesalers to dramatically increase the level of marketing support they provide to their independent hospitality and retail customers.
Euan Baxter, an investor at BGF who joins the Board of MRM Global said: “This partnership has provided us with a fantastic 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.
“Despite the hospitality sector being negatively impacted by Covid-19, we are committed to backing companies in this space that have market-leading solutions and a clear opportunity to drive shareholder value. We have been really impressed by the way that the team at MRM have responded to the challenges posed by the global pandemic. They have adapted their business model, rapidly developed new product innovations, and won a number of new customers. BGF’s investment in MRM demonstrates the confidence we have in their team and the recovery of the hospitality sector. We believe MRM has a clear growth opportunity in front of it, underpinned by strong customer demand, and we look forward to extending its reach even further.”