Mon, 29 Jul 2024 | BUSINESS NEWS
A digital media business headquartered in Manchester is set to target acquisitions after securing an additional £5.5 million growth capital investment from BGF. KOMI Group, which was founded in 2015, creates and curates social first content across all major social media platforms.
The company, which is led by founder and CEO Andrew Trotman, Group Managing Director Sam Lenehan and Chief Financial Officer Tom Moran, initially secured a multimillion-pound investment from BGF in 2022.
Since then, the group has expanded from 40 million to 113 million followers across 46 brands, with more than 2.5 billion monthly views. The company also launched its new talent offering KOMI Talent, which has registered year-on-year growth of 130 per cent.
The new BGF funding will enable KOMI to continue its growth trajectory, while taking a greater focus on international expansion and strategic acquisitions, particularly in the US market.
Group Managing Director Sam Lenehan said: "We've experienced a period of good growth with BGF's support and created strong foundations to accelerate our global expansion. With renewed backing, we'll look at US acquisitions where we can partner with agile, independent companies to drive innovation and grow more rapidly as a combined entity.”
Lenehan continued: “We were attracted to BGF because of its flexible model and ability to provide follow-on funding so we can capitalise on growth opportunities. We're energised by this investment and have a number of live opportunities ready to put the capital to work."
The deal, as well as the original BGF investment, was led by BGF investor Rhys Davenport, who commented: Davenport added: "KOMI has significant potential for global growth and a track record of scaling its platform and reach organically. With a disruptive offering and innovative approach to the market, the team will look towards M&A to continue with this trajectory."
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