MPP Global, a digital services monetisation company, has raised £12 million in a new funding round.
The Series B round was led by Albion Ventures and Grafton Capital. The Cheshire-based company will invest the funds into its eSuite platform by launching new features and expanding into new markets. The service is used for managing subscription business models and converting and retaining paid users in sectors like media, sports, and retail. MPP’s customers include Sky, News UK, the Daily Mail Group, L’Equipe, and McClatchy.
According to CEO Paul Johnson, the company will be looking at expanding in the US and Asia Pacific. To further this development plan, former Mimecast COO, Keith Wallington, has been appointed chairman.
“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,” added Albion Ventures partner, Ed Lascelles.