Narwhal Group secures £1.2 million Seed Follow On investment from investors including Robin Saunders
Narwhal Media Group, a leading marketing tech business, completed an equity fundraise of £1.2m, valuing the Group at £18.2m, up from a £10m valuation in Q1 2021.
Narwhal Media Group (“NMG” or “the Group”) operates a number of technology-led businesses, with three main subsidiaries:
upUgo – A digital marketing agency providing services including SEO
Lasso Leads – A data analytics & lead generation business
GoRank – A white-label marketing product for businesses
Each of the subsidiaries are seeing month-on-month top line growth with business models built on recurring revenues. In addition NMG holds investments in a range of disruptive direct to consumer businesses and innovative start-ups including those in cryptocurrency, NFT marketplaces, dark web monitoring and more.
The proceeds of the Pre-Series A fundraise will be used to expand NMG’s sales function, continued investment in software R&D, and to provide working capital for the groups continued expansion.
Investors in the round included Robin Saunders from Clearbrook Capital, Elio Leoni Sketi from LSG Holdings and Bodil Blain the founder of CRU Kafe.
NMG expects to raise further funds later in 2022, and is targeting a £200m valuation by 2024.
Luke Sartain, CEO & Founder of Narwhal Media Group, commented:
“Narwhal can offer premium, disruptive solutions to any company that needs to improve its digital marketing and drive sales. We work with both some of the country’s and the world’s biggest brands, and with ambitious start-ups looking to scale rapidly.
“This investment round will allow each of our businesses to push on to the next level of growth and so further realise the value in NMG and our IP.
“We are unashamedly ambitious about setting targets at NMG – our aspiration is to become the most innovative marketing tech business in the world, operating a stable of best in class companies.”
Robin Saunders, Managing Partner and Founder of Clearbrook Capital, commented:
“I am thrilled to be investing in Narwhal Media Group. Luke Sartain and NMG are justifiably ambitious about their plans for growing the Group and we look forward to working with them to support that growth.”