MPP Global, the UK-based company that created eSuite, an e-commerce digital monetization platform for publishing and media, TV and entertainment, sports, and retail, has raised $15 million (£12m) in a Series B funding round from Albion Ventures and Grafton Capital. MPP Global has worked with media organizations including the Winnipeg Free Press, News UK, Daily Mail Group, and L ‘Equipe. Most recently, MPP Global worked with McClatchy as the company makes its shift to becoming a digital-first publisher.
The investment will help MPP Global expand its global footprint, advance their cloud-based platform, grow the U.S. team in New York and sign additional publishers and OTT operators, said Media Post. The company appointed Keith Wallington, former COO of Mimecast, to help guide the company along its next stage of development.
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“We are incredibly excited to be embarking on the next chapter of MPP Global’s evolution, embracing new markets and launching a stream of new eSuite features. We welcome Keith to the team as we look forward to raising international awareness of our leading eSuite platform in the United States and Asia Pacific region,” said Paul Johnson, CEO and co-founder of MPP Global.
Ed Lascelles, partner, Albion Ventures commented on their investment in MPP Global:
“This is a compelling opportunity for Albion to invest in a market-leading, high growth and profitable SaaS business run by an entrepreneurial and motivated team. We see the market for paid OTT content growing rapidly over the medium term and MPP Global is well placed to consolidate its position as the category leader,” said Lascelles.
When we interviewed MPP Global’s Scott O’Neill, senior vice president of North America, in January, eSuite had six primary components: intelligence and decisioning to track subscriber/prospect behavior; acquisition and conversion to create highly-targeted campaigns; identity and CRM for comprehensive registration and identity management; revenue and billing for both physical and digital productions; retention and recovery to protect and preserve subscription revenue; and analytics and reporting for smarter decision making. The idea is to make eSuite adaptable and customizable to any client’s specific needs, and it is scalable for both large and small companies.
Oliver Thomas, Partner and Co-Founder, Grafton Capital, said, “Paul Johnson, Chris Cheney and their team have already demonstrated success in building a profitable, growing business which consistently outperforms major competitors worldwide. We are excited to be supporting the company as a growing number of media, sports and subscription retail enterprise businesses are choosing MPP Global’s integrated capabilities to maximize the lifetime value of their customers.”
This investment is an exciting opportunity for MPP Global to further develop the eSuite product and to expand their ability to work outside the UK. While successful in the UK and Canada already, McClatchy was MPP Global’s first significant client in North America. Additional capital will help the company grow and expand into new markets and may allow them to reach across additional industries. This, in turn, will be great for subscription companies of all kinds who want a robust, customizable, easy-to-use platform for managing subscriptions.