The North East Development Capital Fund invests in Differentology
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Maven has provided a substantial debt funding package to Differentology via the North East Development Capital Fund, supported by the European Regional Development Fund. The funding will enable the company to deliver on its ambitious expansion plans and embark on a management buyout to exploit opportunities in new markets.
Differentology provides market research and consumer insight services, working at the intersection of data, human behaviour, technology and creativity. The business already boasts an impressive client list including HSBC, Disney, Sky, Viacom, Tik Tok, and Bloomberg and it is well-positioned to cross-sell its growing range of services to its expanding customer base.
The global revenue of the market research industry exceeded $73.4bn in 2019, growing more than twofold since 2008, and is expected to reach $82.87bn by 2023. Differentology has seen insight revenue increase 107% in the past 12 months, and has experienced double digit growth, year on year, since its inception in 2013.
Led by a highly experienced and respected management team across the industry. CEO Mark James, has almost 20 years industry experience working with large brands such as P&G, Sony and Lonely Planet. Mark is supported by Managing Director, Lizzie Gilthorpe, who has over 10 years industry experience in strategy and communications for organisations such as HSBC and Debenhams. The team is also supported by James Dickie, Head of Research, who has over 15 years’ experience in the sector.
Michael Dickens, Investment Director at Maven, said: “We are delighted to support Differentology as it launches its exciting growth strategy. The business is truly a full-service operation for market research and consumer insight, run by a very impressive team. We look forward to working with Mark and the company to support the execution of its expansion plans.”
Mark James, CEO of Differentology, said: “It’s been an incredible journey as Differentology has transitioned from a one-person team with a challenger mindset, into a multi award winning, global agency. With the help of Maven, we are now firmly focused on the future, further pushing the boundaries of the research industry, and our next phase of exciting growth.”
North East business looking for funding to grow? Speak to Maven’s local team about your current and future needs, and our experienced investment professionals will be able to guide you on your funding requirements. Contact our team today on 0191 731 8590.