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Foresight Group has made a £3.5 million growth capital investment in fast-growing tech business Looper Insights, in a deal supported by PKF Francis Clark.
Looper provides merchandising data analytics to content distributors and video on-demand streaming services. Its technology enables customers to audit their advertisements in real time, ensuring accuracy of artwork and suitability of placement.
Looper currently works with Hollywood studios, local broadcasters and global streamers, including Amazon Prime, Disney, NBCUniversal and Sony. The investment from Foresight’s Growth VCT funds will support the continued growth of the company, extending its global reach.
A team at PKF Francis Clark, comprising Sam Phillips, Matt Pearce, Chris Rodgers and Callum West, provided a full suite of buyside support, including financial and tax due diligence, to Foresight, the listed private equity and infrastructure investment manager.
They delivered a report that was thorough, value-additive and reader-friendly.
Nick Mettyear, senior investment manager at Foresight, said: “I have now done several financial due diligence engagements with PKF Francis Clark, and the service has got better each time. They managed the engagement with the target and understood the complexities of the business model quickly. Ultimately, they delivered a report that was thorough, value-additive and reader-friendly.”
He added: “Looper is an exciting company in an international growth market. The company has a first mover advantage and is delivering a mission critical solution to the leading customers in the market. We look forward to working with Lucas and Nelly and helping to accelerate Looper’s already impressive growth.”
Sam Phillips, corporate finance partner at PKF Francis Clark, said: “We were delighted to work with Foresight on another tech sector deal. Using our experience of due diligence exercises involving early stage tech start-ups, we were able to analyse recurring revenue streams and sensitivities around potential downside scenarios to give comfort to our clients on their proposed investment. Looper is an innovative business with an impressive blue chip client base, and we look forward to seeing it continue to grow with backing from Foresight.”
Looper was founded in London in 2017 by Lucas Bertrand and Nelly Voukaki.
CEO and founder Lucas Bertrand said: “We are thrilled to add Foresight to our investor lineup. Foresight’s proven expertise in the global SaaS market, combined with its recent successful US exits, adds an exciting dimension to our journey. Having built a robust solution for tracking and valuing digital media on connected TV devices, this Series A investment will empower us to scale our sales and marketing efforts and significantly increase our market penetration globally.”
Find out more about PKF Francis Clark’s transaction support services.