Email and SMS marketing firm Pure360 has secured £10.5m in funding, as part of plans to accelerate growth and develop more sophisticated marketing programmes.
The Brighton-based business, which works with brands including Virgin and Innocent Drinks, has doubled its turnover since 2008 and this investment is expected to enable it to double that again by 2016. Some 65 new jobs will also be created, taking its headcount to 165.
Scottish Equity Partners (SEP) has invested £6.5m, with the balance coming from Investec and management.
Pure360 joins SEP’s growing roster of digital media firms, including the world leading travel search site Skyscanner and social media analytics company SocialBro.
The deal is the latest in a number of investments in the market in recent weeks; last month both Neolane and ExactTarget were bought out by Adobe and Salesforce.com respectively, with a combined value of nearly £2bn. The UK market for email marketing alone is forecast to be worth £513m this year.
Pure360 chief executive Stuart Dawson said: “The investment will enable us to develop our platform’s functionalities even further, focusing on segmentation, geolocation and automation so that marketers can predict what customers need, before they even know it themselves.”
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