MRM gets £2m from BGF for North America growth
Marketing technology firm MRM Global has received a £2 million follow-on investment from growth capital supplier BGF.
Edinburgh-based MRM’s clients are in the global drinks and hospitality sector. Its technology allows sales reps and customers to quickly create on-demand marketing materials that increase brand visibility and product sales.
Since BGF’s initial investment of £2.6m in August 2020, MRM has doubled its revenue and its headcount to 74, despite the impact of the pandemic. It has expanded into new markets including Australia, Canada, Singapore and the US.
BGF’s new funding will be used primarily to support the delivery of a major multi-year contract recently won with one of North America’s largest wine and spirits distributors.
Craig Letton, CEO 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 at MRM Global, said: “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.”