Silverbullet Data Services Group PLC plans to float on the London Stock Exchange as it seeks to unlock the potential of its area of specialism: First party data and contextual intelligence.
The marketing technology firm, in a statement, said it plans to raise £9.5mln through an IPO which would value the company at around £34.5mln.
It has earmarked the proceeds for investment to accelerate growth, in particular through supporting the upcoming roll-out of the company’s 4D product which allows ad targeting without website cookies by using ‘in-the-moment’ contextual analysis.
Silverbullet highlighted what it described as a “once in a generation, permanent, global shift in consumer behaviour towards digital media”. It also noted market forecast indicating the digital spending will account for 67.8% of total ad spend by 2024.
The company currently works with brands such as Heineken, Dolce & Gabbana, Jägermeister and Channel 4. It has a partnership with Local Planet, a global media agency network. It has operations in the United Kingdom, Italy, Germany, Australia and it recently opened an office the United States.
Chief executive Ian James told investors that the company is at a pivotal and exciting point in its development.
"The world is experiencing a global shift towards online consumption and e-commerce, accelerated by the COVID-19 pandemic,” James said.
“The growth in e-commerce and the time consumers spend online, coupled with increasing investment in digital advertising spend, are expected to drive significant growth in the digital advertising industry, which is forecast to reach US$526.17 billion by 2024.”
He added: “in light of increasing restrictions on the use of third-party cookies, the board believes contextual targeting is poised to thrive, with 4D providing the gGroup with a scalable digital product which is complementary to its established consultancy and activation services."