By Karen Peattie
AN Edinburgh-based tech company that specialises in the global drinks and hospitality sectors has secured a £2.6 million investment from BGF, the UK and Ireland investor.
MRM Global’s Brand Creator app platform allows drinks manufacturers and wholesalers to increase the level of marketing support they provide to their independent hospitality and retail customers.
The deal, delivered from BGF’s Edinburgh office, is its third new investment since lockdown began and follows another recent high-profile announcement which saw the team invest £2.7m in Stirling-based business The Paint Shed.
MRM has expanded to over 34 countries in the last three years and works with world-leading spirits and beer brands. The BGF investment will be used to fund further international growth with a focus on expanding its presence in North America where the business is seeing strong traction due to the “disruptive nature” of its technology.
Craig Letton, chief executive of MRM Global, said: “Our mission is to make it easier and faster for sales teams to support their customers with customised, on-demand and brand-compliant marketing. With the significant impact that Covid-19 has had on the hospitality industry, our mission has never been more important.
“We realised that if we really wanted to achieve our vision of supporting as many customers as possible, we needed to take on growth capital.”
The business also plans to triple the size of its Edinburgh software engineering team to accelerate the product roadmap. This includes the further development of a module which was launched during the coronavirus pandemic to help hospitality outlets adapt to the new trading environment.
BGF investor Euan Baxter has joined the MRM board. “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,” he said.
MRM Global has also appointed former Diageo executive Andy Fennell as non-executive chairman.
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