London Stock Exchange welcomes Big Sofa Technologies Group plc to AIM
London Stock Exchange today welcomes Big Sofa Technologies, a fast-growing video analytics provider, to AIM following a successful fundraising of £6.1 million.
Big Sofa Technologies has developed a business to business technology platform which enables brands and market research agencies to use video to understand consumer behaviour better, faster and cheaper. Big Sofa Technologies works alongside global brands, consumer insight agencies and consumers directly, who engage via video through smartphones and tablets. Their highly scalable platform collects, transcribes, translates and analyses video from any source, anywhere in the world, and presents high impact consumer understanding back to the company’s clients.
With the proliferation of smartphones, video has become a key medium through which to gain insight into consumer behaviour and preference. Big Sofa Technologies is well-placed to benefit from this trend, with some of the company’s existing blue-chip customers already including Procter and Gamble, Unilever, SC Johnson, British Airways, Ipsos, Flamingo, Kantar and GfK Group.
The funds raised will be used to help facilitate expansion of the company’s resource in the U.S. to target the large market opportunity there, as well as to accelerate the near-term growth opportunities present with existing key customers.
To mark the occasion, Simon Lidington and Matt Lynch, co-founders of Big Sofa, joined James Clark, Business Development for Tech and Lifesciences Equity Primary Markets, at the London Stock Exchange, to open trading in London at 8:00 GMT this morning.
Simon Lidington, CEO of Big Sofa, commented:
“We are delighted to be joining the AIM market, which marks a significant milestone for Big Sofa. The support we have received from investors has been excellent and we welcome our new shareholders. We believe this listing will provide us with an excellent platform for growth and we are excited to enter our next phase as a listed company.”