RUN2 receives £500,000 growth funding to develop new AI platform
June 25, 2019
Manchester digital agency RUN2 has received a £500,000 investment from >_fund:tmt, a dedicated fund for fast-growing tech and media companies, which will be used to expand and implement a new AI platform for online client hyper-personalisation and recommendation engines.
The platform promises to completely transform the output of the agency.
The investment comes following a period of significant growth for RUN2, which has achieved double digit growth and annual turnover approaching £1m for last year.
RUN2’s owner, Christian McGinty, said: “It’s been an incredible journey for us so far; achieving the growth we have for the past year is testament to the team that work here. With the addition of funding, the next few years look even more exciting. I’m very much looking forward to launching new products and services as we head into the next half of the year.”
The introduction of the new platform is just one part of the agency’s exciting new growth strategy.
Manchester AI entrepreneur David Walters will be joining RUN2 as Chairman and will help support the team with their high growth plans and product innovation.
David said: “The RUN2 client base tell us they want their digital partners to go beyond the norm and to find new and innovative ways to drive performance and delight their customers. The RUN2 AI roadmap is designed to do just that and I look forward to helping Christian and the team to build on their great success with AI innovation.”
The team will also be welcoming Alison Clifford as financial controller. Alison joins having built up a wealth of experience including roles at private equity firm NorthEdge Capital and also Thomas Cook Airlines.
RUN2 is the maiden investment for >_fund:tmt, which was formed to address the investment gap for established, scalable and entreprenuerial technology, media and telecoms (“TMT”) businesses across the UK. Managed by SPARK Impact and conceived alongside Paul Billingham and Adam Zoldan, the founders of TMT focused advisory firm Knight Corporate Finance, >fund:tmt provides flexible funding solutions of up to £1m. The fund’s investor base consist primarily of successful entrepreneurs from the TMT sector who have experienced first-hand the challenges faced by business owners in raising funds.
Mark Borzomato, Investment Director at >_fund:tmt said: “We are delighted to make our first investment into a really exciting and dynamic company which under Christian’s stewardship, has established itself as one of the region’s leading digital marketing agencies. RUN2 has built up an impressive reputation in the marketplace and is now ideally placed to continue its growth.
“With the constantly changing technology environment, the business is looking to position itself at the forefront of innovation in the sector and the appointment of David Walters will help achieve this. We look forward to working with Christian and his team in the next phase of the company’s development.”
Advisers on the transaction included: David Easdown – Knights plc – (fund legals), Matt Beckley, DTE ( financial due diligence) and Mark Holleran of Lithium Capital (legal advice to company and management.)
For further information please contact Chris Barry at Influential on 0161 804 1400/ 07733 103693
Notes to Editors
Launched in 2018 by the founders of TMT corporate finance boutique Knight Corporate Finance and SPARK Impact, >_fund:tmt addresses the investment gap for established, scalable and entrepreneurial technology, media & telecoms (TMT) businesses across the UK.
It provides flexible funding solutions of between £0.5m and £2m, and is unique in that most of its investors are successful entrepreneurs from the TMT sector who have experienced first-hand the challenges faced by business owners in raising funds and considered too small by more traditional institutions such as banks or private equity.
About Spark Impact
SPARK Impact is an active investor in the British Isles, offering extensive knowledge and experience to entrepreneurs and investors. It has expertise across several different fund types and structures, including public, private and public/private funds, as well as significant experience in managing equity, venture debt and mezzanine finance across all business sectors. http://sparkimpact.co.uk/funds
Spark Impact Limited is authorised and regulated by the Financial conduct Authority FRN 143361, registered in England and Wales, Liverpool Science Park, 131 Mount Pleasant, Liverpool, L3 5TF, company number O2323420