Oaklins Deal Flash: Bigtincan

Bigtincan Holdings (ASX:BTH) has raised funds via an institutional placement.

Bigtincan successfully completed a US$26.4 million placement to fund the acquisition of ClearSlide and bolster the company’s balance sheet. The raising was well supported by institutional investors and was completed alongside the recently announced acquisition of ClearSlide, a sales enablement technology platform leader with more than 500 customers across three continents. Bigtincan is a software company that has developed an AI-powered sales enablement automation platform aimed at achieving the improved success of sales and customer satisfaction. The mobile platform solution features the industry’s premier user experience, which empowers sales representatives to more effectively engage with customers and prospects and encourages team-wide adoption.


Market Trends & Deal Drivers

Bigtincan operates within the sales enablement and engagement sectors in which the current addressable market is worth US$4.7 billion per annum. Both industries are in their early stages and are highly fragmented, with growth driven by the need to improve internal business processes, increase sales performance and scalability of sales efforts with advanced technology. As customers have access to more readily available information when making purchasing decisions, it is necessary for sales representatives to successfully address customers’ needs and provide them with accurate, up-to date information to ensure sales wins. Players within the sales enablement and engagement industries that can deliver valuable insights through data and analytics to sales representatives will remain competitive.


M&A Valuation Aspects

Within the Australian SaaS space, based on FY21F figures, Bigtincan currently trades at 7.8x EV/revenue, while its peers trade at an average of 6.7x. However, Bigtincan’s revenue growth of 32–42% is double that of its peers’ average of 15%. The company’s revenue growth stands out when compared with the US SaaS market, where average revenue growth is 12%. In comparison with private sales enablement companies, Bigtincan trades at a significant discount despite greater liquidity.


“As part of meeting our vision of empowering every customerfacing worker to be successful in the new digital and remote economy, adding ClearSlide’s sales engagement technology and its customer base brings new opportunities for Bigtincan to extend our market space and continue our leadership position. We were pleased to work with the Oaklins team again to ensure we were able to strengthen our balance sheet by way of a successful institutional placement. We look forward to working with them again through Bigtincan’s next growth phase.”

– David Keane, C-Found & CEO of Bigtincan Holdings


To view the deal flash, please click here 

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