London-based advertising technology company Dianomi has announced plans to raise up to £37 million in its upcoming London listing.
Business Growth Fund-backed Dianomi was founded in 2003 and provides a marketing platform to financial advertisers and large publishers. The platform gives advertisers access to business and finance content across some well-known brands, including Bloomberg, Reuters and the Wall Street Journal, generating a fee each time a user clicks on the advert.
It’s worth noting that only £5 million of the £37 million funding total will go to the company, the rest (£32 million) will go to selling shareholders, presumably the Business Growth Fund among them. The listing is being priced at 273p per share, implying an £82 million market value at admission.
SPECIALIST IN A NICHE SPACE
At first glance, Dianomi looks like a very small player in the a space dominated by the likes of Google-parent Alphabet and Facebook, but analysts see promise in the business. Dianomi looks to have ‘carved out a nice niche in helping financial services brands acquire customers,’ said Megabuyte’s Rob Warensjo.
The group serves many of the world’s largest asset managers, wealth managers and banks.
Dianomi, which has delivered compound annual growth of 47% over the past five years, saw revenues of £28.4 million (up 59% year-on-year) calendar 2020, with 77% earned in the US and elsewhere across the Americas. This saw earnings before interest and tax jump from £300,000 in 2019 to £2 million.
The new funds will help the company invest in its sales and marketing across North America, Europe and elsewhere.
Dianomi expects the listing to happen this month, May 2021.
