Bigtincan Holdings Limited raises $40m
We are pleased to have acted as joint lead manager to a $40m capital raising by Bigtincan Holdings Limited (ASX.BTH), undertaken by way of a $35 million institutional placement and $5m Share Purchase Plan. The capital raising received strong support from new and existing institutional shareholders. Bigtincan has completed six acquisitions since late 2017 and the new funds will enable the company to accelerate its key strategic priorities.
A strategy built for growth
Bigtincan helps sales and service teams increase win rates and customer satisfaction. The company’s mobile, AI-powered sales enablement automation platform features the industry’s premier user experience that empowers sales representatives to more effectively engage with customers and prospects and encourages team-wide adoption.
Bigtincan has hundreds of customers, over 200,000+ licensed users, an established business in North America and an emerging business in the UK and European markets.
The capital will be used for acquisitions, organic growth acceleration and general working capital. It will enable Bigtincan to take advantage of the current SaaS market tailwinds as the market pace of digitisation and mobilisation of work accelerates.
While more people are working from home and businesses require enhanced digitisation and mobilisation strategies. The company’s strong — and now enhanced — balance sheet will enable BTH to target further M&A opportunities through the next financial year.
Justin Lewis, Managing Director at Henslow commented: “We are very pleased to have been able to assist Bigtincan raise new capital which will allow it to accelerate their strategic priorities as well as look at further potential acquisitions. This is another example of our ECM capabilities in a growing selection of mid-market companies. We can help businesses be capital ready to acquire opportunities that will accelerate growth as well as assisting them to identify opportunities using our proven M&A abilities.”