We recently received some press coverage in The Times, The Herald and The Scotsman amongst others.
Here’s the full press release charting our recent growth and ambitions:
Mobile marketing specialist Digitonic is on track to double revenue to approximately £16 million in the year to 31st October 2021 following a record year in 2020 when the business posted revenue of £7.8 million. The company also expects to report double-digit growth in profitability for the full year. The Scottish startup founded and led by CEO Grant Fraser and Managing Director of Technology Iain Wilcox celebrated its 10th anniversary in April, grew its headcount by around 50 per cent to 45 people last year and is planning further hires in 2021.
Over 95 per cent of Digitonic’s clients are based in North America, and the company opened a US office and established a US subsidiary in 2020. With a growing number of clients in Vancouver and Toronto, the company is planning a Canada office opening in 2022. The North American offices would support Digitonic’s headquarters in Glasgow, and UK satellite office in London.
Digitonic acquired stock market review site for retail investors ValueTheMarkets.com in 2020, an acquisition that has helped to drive further client wins and the company is not ruling out further growth by acquisition over the next twelve to eighteen months.
Grant Fraser, CEO and co-founder of Digitonic, said: “Last March and April were really challenging months for the business and our revenue streams were impacted quite severely at the time, so to rebound in the way that we have since is testament to the hard work of our entire team and the quality of our products and services. We like being based in Scotland and we’ve proven that we can export our technology expertise to the US and Canada to great effect.”
Commenting on the financial support the company received from Scottish Enterprise during the first few months of the pandemic via Scottish Enterprise’s Pivotal Enterprise Fund, Grant Fraser added: “We had phenomenal support from Scottish Enterprise, we can’t speak highly enough of them, and it was encouraging to see them back a fast-growing Scottish company that is truly internationalising and focused on a specific international market.”
In 2021, ValueTheMarkets.com has already received over 2 million visits from global retail investors who want information and news on publicly listed companies in order to make informed investment decisions, and Digitonic’s in-house built marketing technology helps the London Stock Exchange, Canada Securities Exchange, OTC Markets Group and Nasdaq-listed companies ensure that their latest news can be accessed by retail investors.
Grant Fraser added: “Digitonic is at the forefront of conversational marketing and this decade of experience integrated with new innovation is helping the company to change the way publicly listed companies converse with investors.”
Cricketnews.com is another asset owned by the company, a popular cricket news website aimed at Indian cricket fans. Digitonic has built an opt-in database of over 6 million cricket fans that brands pay Digitonic to access to acquire and retain new customers. Digitonic also owns and operates an award winning cricket podcast called The CricketNews.com Podcast that is now in its 3rd season. Digitonic set up an Indian subsidiary, Rajatonic, in 2021 and now has 7 people based in India.
Last month, the company won a series of awards in the annual Metis Partners IP100, which ranks the best performing technology providers in the area of intellectual property.
Commenting on future growth strategy, CEO Fraser says the company is both considering a stock market listing in either the UK or North America and is also actively speaking to a special purpose acquisition company (SPAC) that could lead to an acquisition of Digitonic.
Grant Fraser said: “While we’re on a track to IPO-readiness, with a stock market flotation potentially on the cards over the next twelve to eighteen months, we have also been approached by a SPAC and we will be continuing this conversa-tion alongside our planned route to IPO.”