London email marketing company Adestra has received a $7.2 million investment from Business Growth Fund (BGF) to fund its push into the US market. BGF has taken a minority stake in the company.
Adestra began expanding into the US earlier this year with the opening of its offices in New York and Dallas. The funding will be used to grow the company’s US staff to support its 500 clients globally - including UBM and BMJ, publisher of the British Medical Journal - following some key hires last year to lead its American push.
According to Adestra CEO and co-founder Henry Hyder-Smith, email is enjoying a “resurgence” in how brands communicate.
“We are hands-on collaborators, immersed in [clients’] business so that we can help them create memorable marketing campaigns and build long-term relationships with their customers,” he said. “The investment by BGF is not only a validation of our business model, but it will also help fuel our US growth in a way that is consistent with Adestra’s customer-driven approach.”
The investment in Adestra is the latest from BGF that targets established British companies with high growth potential.
“Their dedication to their clients’ success has made them a go-to resource in the UK and has them poised to make a significant mark in the US and beyond,” BGF investor James Austin said of its new investment.