News and Announcements
Invigor Group (ASX:IVO) Raising $2.5M to Fully Integrate the Acquisition of Sprooki
- Published June 23, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Data Solutions company Invigor Group (ASX:IVO) is planning to raise $2.5 million via the issue of convertible notes to sophisticated investors to fund its growth strategy.
KEY TAKEAWAYS:
- The funds will be used to provide additional working capital to Invigor to fund expansion of sales and marketing, and fully integrate the acquisition of Sprooki.
- The acquisition is expected to enhance Invigor’s position in loyalty and data analytics for retail and e-commerce.
- The acquisition will give Invigor an increased customer base, an expanded geographic footprint and a comprehensive product offering to leverage existing customers for further growth.
- Invigor is aiming to offer a comprehensive suite of data centric solutions that provide powerful defences and opportunities for retail and brands to combat new market entrants such as Amazon.
Sprooki is a provider of shopper engagement and loyalty solutions in Asia with a customer footprint of 18 shopping malls and several thousand retailers across six markets. The new ground funding will provide the company with financial flexibility to fund growth opportunities.
Invigor currently tracks more than 95,000 products across 40 industry verticals, gathering market intelligence data from over 950,000 product page URLs across hundreds of websites.
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