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Capgemini to help McDonald's digtally innovate

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Capgemini logoCapgemini has retained a long-term client of iGate (which it acquired in July 2015 – see Capgemini/iGate – Vive la France!). iGate’s relationship with McDonald’s Corporation goes back 10 years.  Now, Capgemini has signed a “multi-year” IT strategic provider agreement with the global fast-food restaurant chain. For locations worldwide – including the UK – Capgemini will be responsible for the IT across customer and employee experience and restaurant operations.

Clearly, Capgemini’s global scale is an advantage. And the firm plans to demonstrate that it is a leader in “platform thinking”. Its plans for a new Global Digital Retail Center in Chicago will support the relationship, offering the facilities to showcase sector-applied innovation. After the iGate acquisition boosted Capgemini’s US revenue mix from 21% to 27% (see Capgemini buys iGate for $4b), there is also a desire to attract more talent to the North American operations.

Capgemini is partnering with Publicis.Sapient (see Publicis acquires Sapient for digital tech services) to deliver the contract as it tries to reimagine the ways McDonald’s can transform the restaurant experience for stronger competitive advantage. McDonalds aims to provide its customers with greater convenience as well as increased personalisation.

The selection of Capgemini and Publicis.Sapient comes a year after McDonald’s CEO reacted to suggestions that McDonald’s might need replace its workers with robots, due to increases in the US minimum wage. Steve Easterbrook was adamant that its restaurants would always have an important human element; while certain non-value-added processes could be automated, those employees would be utilised elsewhere to improve the front-of-house dining experience.

That is in line with McDonald’s shift from fast-food to ‘casual dining experience’ as it competes with a raft of newly emerged burger restaurants. Over the last six years, Fujitsu has been supporting McDonald’s UK as it has rolled out digital technologies across its franchises to support its “Experience of the Future” initiative. US franchises are currently undergoing a similar upgrade. It is a difficult balance to achieve: giving customers an efficient service through a technology-rich restaurant environment while retaining the human touch. It’s hard to believe, though, that McDonald’s will continue to employ the same numbers of people in the years ahead.


Deloitte: Succeeding now, investing for the future

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Deloitte logoResults from Deloitte (UK and Switzerland) for the year to end May 2017 provide a story of strong revenue growth combined with continued investment in the future.

Revenue was up 11.2% to £3.4b. Within, that, the UK (excluding Switzerland) grew by 8.7% to £2.9b. There would have been limited impact from acquisitions (such as Register Larkin and Red Planet). The acquisition of proposition design consultancy, Market Gravity, completed after the year end.

The UK Consultancy practice led the way with revenue growth of 13.6% to £859m (it was closely followed by Audit & Risk Advisory). Deloitte points to “significant demand for technology-enabled business transformation and… further strong growth in Deloitte Digital”.

This is the second year of double digit growth for Deloitte, emphasising the fact that many organisations are at an early stage in their digital journey and are turning to the Big 4 to help them find their way and prepare their organisations for future change. It is clear Deloitte wants to ensure it is positioned to support its clients further along their digital paths. That is why distributable profit for 2017 was flat year-on-year at £608m. Investment in people and in solutions continued – evidence comes in the form of global alliances (such as that with McLaren Applied Technologies)  and acquisitions (like that of Market Gravity). Digital design and big data analytics are key focus areas.

Worth noting also that, from 1st June 2017 (i.e. the start of the new financial year), Deloitte North West came into effect; Deloitte has brought together its 30K people across UK, Switzerland, the Nordics, Belgium, and the Netherlands “to create a new $5b firm”. The intention is to enable increased investment in innovation and provide greater opportunities for the firm’s people.

Fintech Money Dashboard highlights problems for established banks

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logoAnother Fintech has entered the battle for banking customers frustrated with the limited offerings from the established banks. This time it’s Edinburgh-based Money Dashboard (moneydashboard.com) that has raised £1.33m through an equity crowdfunding exercise with 1700 investors buying 9.55% of the company.

The company’s downloadable app aggregates online account information from over 50 banking and credit card providers so that the user can see his/her overall financial situation. Also by “tagging” transactions according to the type of expense, spending can be monitored and budgets managed.

tmvThis is another Fintech adding another layer of sophistication and increased customer engagement on top of basic banking services. It is getting to be a crowded market as FinancialServicesViews subscribers can read in our recent Fintech reports. (Start with our July report: The State of UK and European Fintech and follow the links to other relevant publications). The market will get even busier as newcomers capitalise on the inability of the big banks to respond due to their legacy IT issues and corporate structure. (See our report on the banks’ Digital Strategies).

Companies like Money Dashboard (and bigger ones like Monzoand Yolt) are building customer numbers quickly, and although most will remain niche players and small in customer numbers relative to the established giants, the big UK banks should view them as a potential threat. As regulation changes with PSD2 and Open Banking, these companies will be able to offer more services and capture more of the value chain (particularly in payments and lending). Those that have introduced innovative services and captured a (generally) youthful and increasingly financially active customer base will become attractive to other better-financed aspirants in the banking sector, and may even make the leap to scale themselves. An interesting and dynamic sub-sector.

Investors fuel BunkerEx to send brokers broke

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logoA slight exaggeration perhaps, but the sentiment is about right. London-based startup, BunkerEx, is an online marketplace for shipping companies to buy fuel (‘bunkers’, in the vernacular, from the time when steamships were fired by coal) direct from suppliers, bypassing the traditional broker network. Launched only this year, BunkerEx has raised £400k in a funding round supported by Seedcamp and the London Co-Investment Fund, along with various angels.

BunkerEx does not charge shippers to buy fuel on its marketplace. Suppliers pay a fixed commission which the startup claims is around 20% of the fees traditional brokers would typically charge.

It’s a classic ‘cut-out-the-middle-man’ model in a long-established industry, and sounds like it could be long overdue!

IP EXPO Europe, ExCeL London 4-5 October 2017 (Sponsored Post)

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IP Expo Europe 2017IP EXPO Europe is Europe's number ONE IT event for those looking to find out how the latest IT innovations can drive their business forward. IP EXPO Europe holds six IT events under one roof – Cloud, Cyber Security, Networks & Infrastructure, AI, Analytics & IoT, DevOps and Open Source. This year, IP EXPO Europe will also incorporate MACHINA Summit.AI.

The event showcases brand new exclusive content and senior level insights from across the industry, as well as unveiling the latest developments in IT. With 300+ exhibitors and 300+ free to attend seminar sessions, IP EXPO Europe is the must-attend IT event of the year for CIOs, heads of IT, security specialists, heads of insight and tech experts.

Register FREE* today to save £35 

*Visitors not registered by 19.00 on Tuesday 3rd October 2017 will be charged a fee of £35 payable.

Selling Out v Scaling Up Breakfast on 19th Sept 17

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Scaleup LogoJust a quick reminder of the Selling Out v Scaling Up breakfast at 8.15am - 10.15am on  Tuesday 19th Sept 17 organised by our friend John O’Connell - Chairman of the ScaleUp Group - and hosted by Goldman Sachs at their HQ at 120 Fleet Street, London, EC4A 2BE.

Panellists include Vin Murria, Duane Jackson, Paddy MccGwire (Silverpeak), Sameer Anand (Goldman Sachs) and…me (obviously understudying for Anthony!)

The last similar session was a great success as it debated why the established norm for UK HQed companies is to sell-out. Is that inevitable? Indeed, is it wise? Well, all the panellists (incl me) have done it, so it can’t be that dumb, can it?

The session is free for budding tech entrepreneurs and their advisers.

To register, please contact Tina Gallagher (tina.gallagher@tx2events.com) or call 020 3137 2541 or book online at www.tx2events.com.

Uber, Meg Whitman and HPE

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UberUber has confirmed that Dara Khosrowshahi - formally CEO at online travel firm Expedia - is to become CEO of UBER. This follows the ‘removal’ of founder Travis Kalanick. However what role Kalanick will play at Uber in the future is unknown.

Nobody doubts either that Uber has been a significant ‘disrupter’ or that Khosrowshahi will have a pretty difficult job in bringing this rather troubled firm to order. It faces multiple issues in multiple geographies. Maybe Khosrowshahi will justify the $100m Golden Hello rumoured?

WhitmanBut I guess the most surprising element of this story - to me anyway - is that Meg Whitman (CEO of HPE) was in contention for the CEO role at Uber up until the very last minute. See Whitman interview with Financial Times on 28th Aug 17 and widely reported elsewhere. This is the kind of news you would expect to be kept extremely confidential. But this is Uber! Apparently Khosrowshahi heard that he had got the job only when he read it in Decoded!

At a time of great change for everyone engaged with HPE, it is hardly motivating to learn that your President/CEO is also contemplating jumping ship. Indeed, almost every article I have read today now expects Whitman to be gone by the end of the year

Alfa Financial motoring along since IPO

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lAlfa,the newly-listed software provider to the global asset and automotive finance industry, has delivered an impressive first set of results since its IPO in May (see here), showing that this new kid on the AIM block is really motoring along.

Alpha’s shares rose another 6%, giving it a market value of £1.3bn.

Revenues for the first half ended 30 June, soared 57% at the headline level to £45.1m (and up 27% in constant currency). Operating profits were up 15% to £14m, although this meant margins dipped to 31%, from 42% last time. Profits were held back by IPO costs, share-based payments and recruitment to continue scaling the business. Alpha now employs 300 people (up from 250 last year) and further recruitment is planned.

Alfa, formerly known as CHP Consulting, has been around since 1990, providing software and consultancy for the asset finance sector, and has built up a strong track record of big name global customers like Hitachi Capital, Siemens, Mercedes-Benz, Toyota, Bank of Australia and Nordea. It's a global play, in fact as the US contributes 45% of Alfa’s revenues (vs. 37% from the UK and 18% rest of world). The US bias helped boost the top line, because of the depreciation of the Pound against the Dollar.

Alfa rightly sees the need to invest for the future, allocating 18% of revenues on R&D, notably in its cloud offering and planned cloud-first sales approach. The aim is to eventually create a new ‘business in a box’ business model. Although no further details were provided, this suggests to us a move to an as-a-service utility. TechMarketView subscribers will know that we believe industry specific platform IP built around deep domain sector knowledge, will become a key tech service delivery model in the not too distant future (see UK BPS Market Trends and Forecasts 2017).


Amazon Alexa and Microsoft Cortana get together

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logologoIt was a surprise when Amazon and Microsoft announced plans to have their respective voice assistants Alexa and Cortana access each other but then you start to think ‘why not?’.

Voice based digital assistants are ‘just’ applications. They may take a different form to conventional ones but why shouldn’t they be integrated. In the conventional environment, applications are designed for certain tasks or competing applications carry out certain functions better than other, so an integrated combination makes for better overall functionality. That’s ostensibly what’s happening with Alexa and Cortana.

Alexa is predominantly used in the home and Cortana in work scenarios and each has different skills. For example, Cortana’s integration with Microsoft Office is much better than Alexa’s (as you’d expect). But with life and work blurring and the broader move to break down all manner of silos, integrating the two voice assistants makes sense. All the more so, when you consider that Alexa uses the Bing search engine.

The real surprise is how early in the voice assistant lifecycle this is happening. It is indicative of the pace of the market and of the importance suppliers place on these developments, with voice capable of becoming a standard interface to applications. The Amazon/Microsoft tie-up is designed to outcompete Apple Siri and up and coming Google Assistant too.

Initially access between the devices will be clunky and we’re nowhere near a situation where they’ll be freely talking to each other. But here’s the thing - I can envisage some people feeling slightly queasy about the thought of user facing machine intelligence-enabled bots with self-learning capabilities chatting to each other.

Back to the future

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GudakThe weirdest story in today’s Times reports on a new iPhone App called Gudak Cam which is ‘modelled on an old-fashioned Kodak and allows you to take a roll of 24 photos through a tiny viewfinder and then forces you to wait three days to see the results’.

This was all brought about by Fuji reporting a massive surge in purchases of its throw-away 35mm cameras. You know, the kind you took to parties or were placed on the tables at weddings  ‘in the old days’.

I loved my 35mm camera(s). Indeed I still have them - and myriad lens - in a cupboard unused for nearly 2 decades now. Apparently the ‘young’ are looking at the ‘old days’ through‘rose coloured lens’. They are fed-up with the instant gratification of digital photos and the ability to adjust them so that everyone always looks absolutely ‘perfect’ in every shot.

Of course, we have already seen the success of the look-a-like Nokia 3310 and the return of vinyl. What next? Black & White TV? Two way family favourites? Muffin the mule? Or even the ‘toys’ I played with whilst a boy - things like toy guns, catapults and penknives.

Can I just say that, with unique experience, the past wasn’t really as great as many make it out to have been. When I was born the life expectancy of a male was 67. Now it is 87. Many of my ‘Little ones’ have had medical issues which they would have died of 70 years ago. Almost every bit of ‘progress’ really is better than what came before it. It is up to us to use it properly.

Liverpool School of Tropical Medicine Select FlowForma BPM to Replace Paper and Drive Collaboration (Sponsored Post)

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FlowForma BPM for Microsoft Office 365Liverpool School of Tropical Medicine (LSTM) is the oldest school of tropical medicine in the world, with hundreds of staff working across the globe. When the School was awarded HEI status in 2013, this presented an opportunity to become a cloud-first organisation, leveraging the very latest technologies and designing its IT infrastructure from scratch, with an end goal to reduce paper trails.

Martyn Coleman IT Systems Architect LSTM

The no code FlowForma BPM tool was a perfect fit for LSTM and its cloud-first strategy. Rather than simply replicate paper-based processes, FlowForma BPM introduced new efficiencies, while increasing cross-department collaboration and meeting compliance requirements.

As soon as FlowForma BPM delivered a couple of high profile wins, everyone started to think about their own practices and how they could make them cross-departmental and improve them.” said Martyn Coleman, IT Systems Architect, LSTM.

How Did FlowForma BPM Benefit LSTM?

1. Over 65 workflows were launched in the 14 months since FlowForma BPM was deployed, delivering huge efficiency gains and dramatically reducing turnaround time.

2. More departments are engaged and involved, than when they outsourced development to third parties, making processes better aligned to the business need and encouraging a culture of collaboration.

3. The intuitive user interface allows users with no development skills to build processes from scratch, as no coding is required.

Read the full case study, sign up to a 30 day free trial, or book a demo to see the product in action.

Microgen buys RevStream

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micMicrogen, a provider of financial services technology systems to the global Wealth Management sector and the UK payments market, has acquired RevStream for a total consideration of £9.7m. At completion, Microgen will also settle debt and debt-like items totalling £2.5m. RevStream's revenue in 2016 was £2.7m and it is expected to generate “more than double” that in the current year. It reported a loss before tax of £800k.

RevStream, which is based in California, is a notable buy for Microgen. Its revenue management software will broaden Microgen’s strategically important Aptitude offering, which is a proprietary platform that enables enterprise teams to build business-critical software systems quickly and efficiently. It uses big data technologies such as in-memory and in-Hadoop processing to deliver high-performance applications. Microgen will also gain access to RevStream’s client base in the tech sector and its cloud capabilities.

Read more on our view of Microgen’s strategy, here.

New Apple iPhone launch set for 12th Sept 17

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AppleI am not exactly sure why, after all these years, I still get a bit excited about an Apple launch. Now we know that the 10th anniversary iPhone (iPhone 8?...or whatever it will be called) will be launched at the Steve Jobs Theatre in Apple’s new massive HQ in Cupertino on the morning of Tuesday 12th Sept 17.

So many of the likely features have been ‘leaked’ that the opportunity for disappointment is huge. Unless it comes with a battery that lasts a year and a cure for cancer, I am sure pundits will take it apart. But other products are expected - like a new Apple Watch, new Apple TV and iOS11.

Apple matters because it has a huge effect on the whole tech sector. It dominates not just the tech indices (like the NASDAQ) but also most people’s portfolios (whether they own the stock directly or via their pensions etc). Apple’s share price is at an all -time high - up c42% this YTD. So if Apple’s share price tanks Tuesday week, you will feel it! 

tailored.to

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tailoredMy friend Nick Kingsbury of KingsburyVentures emailed me details of his participation in a $900K seed investment round in Tailored.to. To be honest, I get so many of these press releases that most never make it to HotViews. But, apart from rating Kingsbury, I happened to be in the market for a new DAB radio - so I gave it a whirl. Tailored.to uses‘a vast bespoke database and AI powered recommendation engine’ to serve you up the product best suited to your requirements. So, I put in my requirements which are a bit strange in that I wanted a DAB radio that was waterproof and that I could use in my garden (I didn’t add that I could live with it being permanently tuned to BBC Radio4 and ‘The Archers’). After searching 425 DAB radios it came up with just two that met my requirements. (Tailored.to say it might have taken me 1.5 hours to do the same search on Google. I cannot verify that)

CEO Martin Bailie obviously impressed others as Amadeus and Ascension joined in this funding round.

Ah, I hear you say,‘what is the business model and where is the revenue coming from?’. This link will give you a good idea of the potential revenue generating opportunities. Anything that gives sellers a more targeted audience is highly valued nowadays. So ‘Holway wants a new DAB radio’ is clearly worth a lot! 

TMV Presentation and Dinner - will you be there?

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Sage company logoWe look forward to welcoming well over two hundred CXOs from the world of UK tech and beyond to our flagship event, An Evening with TechMarketView, in October. The 2017 event is held in association with Sage and will take place at the Royal Institute of British Architects (RIBA) in Portland Place, London on Thursday 5th October, commencing at 6:30 pm with welcome drinks.

This will be followed by an hour of valuable foresight from the TechMarketView analyst team on the prospects for tech suppliers in the UK market in 2018 and beyond, especially in the context of ‘Unlocking the Intelligence’, our theme which embraces the transformational potential afforded by digital technologies such as artificial intelligence, machine learning and cognitive computing.

We would then like to welcome you to a drinks reception ahead of a sumptuous three-course dinner. During the evening, there will be plenty of opportunity for networking with other ‘movers and shakers’ in UK tech.

The Evening with TechMarketView has been a sell-out for the last four years so book early to secure your place. 

We hope you can join the TechMarketView team, and of course our esteemed chairman Richard Holway MBE and managing partner, Anthony Miller, at what so many executives tell us is the one industry event they simply can’t afford to miss!

For full details and to book your place visit tx2Events here or contact event coordinator Tina Compton at tx2Events (tina.compton@tx2events.com).

TechMarketView Evening 2016


UK subdued as Hays ‘turns five’

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logoFive billion pounds, that is, a significant milestone for UK-headquartered, international staffing giant Hays, which saw headline turnover grow by 20% to £5.08b in the year to 30th June 2017. Net fee income (NFI, or gross profit) rose by 19% to £955m, significantly boosted by weaker sterling, though gross margins eased a tad to 18.8%. Currencies also helped boost operating profit by 17% to £212m, leaving operating margins just under the prior year’s at 4.2%. There was very good news for investors, with Hays increasing the core div and also issuing a special div, more than doubling the prior year’s payout.

The UK story was much as expected from earlier quarterly results (see UK Public Sector still tough for recruiter Hays), which in particular pulled down IT recruitment NFI by 14%. However, management reported ‘broadly stable’ conditions in a subdued market, with signs of improvement in the private sector. UK NFI fell by 7% to £253m, with operating profit declining even faster, by 20%, to £42m.

While much smaller players such as Robert Walters and PageGroup are still growing in the UK recruitment market, Hays’ international reach and multidiscipline portfolio continues to pay off all round.

Workday hits fourth quarter of 40%+ subs growth

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logoA buoyant Workday reported its fourth quarter of 40%+ subscription growth in Q218, to July 31 2017, as subscription revenue rose to $435m (up 42%). At 40.6% growth, total revenue just tipped over the 40% mark too, reaching $525m. What was reassuring was  net loss narrowed to $83m from $107m, in contrast to this time last year.

During the quarter Workday saw more traction for its financial suite, for its Planning product and adoption within medium sized companies. While financial sales appear to be hard won and take time to close, the mid market could be an important sector in maintaining that 40%+ growth streak. However, while the company raised guidance for Q3, it is looking at subscription growth of 33%-34% ($450m-$452m). Raised guidance for FY18 puts subscription revenue up 36%. Workday regularly exceeds guidance though.

The Workday Cloud Platform presents an opportunity to maintain high growth because of the plan to open up the PaaS capability to customers and a broader ecosystem of ISVs, partners and developers. Growing an ecosystem from PaaS is expected from an ambitious cloud pure play so Workday is falling into line and we can see current partners like Kainos move to take advantage.

With SAP announcing integration between its SuccessFactors Workforce Planning tool and its cloud finance application SAP RealSpend this week, competition from the traditional side of the market is rising. Workday will need to maintain its edge and the benefits that can come from an ecosystem is one way to do that. SAP’s move is significant because it starts the process of blending HCM analytics data with operational and financial planning data – providing the capability to unlock the intelligence held within an enterprise’s data stores. The bigger the (relevant) data set, the more questions can be asked of it. Workday has integration between its products; the ability to embrace additional data sets available via its ecosystem would take data harmonisation forward.

Accenture finds Concrete Solutions for agile opportunities in Brazil

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logopicIt’s been over four years since I last met up with Accenture Brazil (see BrazilViews Jan. 2013). Since then, Managing Director Ansano Baccelli has taken over as lead for Latin America at Accenture Technology’s business, an operation with some 11,000 employees across the region, of which 5,000 are based in Brazil. Baccelli has been with Accenture for 26 years, more than half of which was spent in Accenture’s Products vertical serving several different industries, with further time in Resources. Baccelli has also led Accenture’s SAP practice in Brazil.

The timing of our meeting was opportune as Accenture had only recently completed the acquisition of Concrete Solutions, a privately-held consultancy specialising in lean and agile methodologies for mobile and web application development. Founded in 2001, Concrete had established a reputation as one of the leading independent mobile app consultancies, with 450 employees across three locations in Brazil. Financial details of the deal were not disclosed.

Accenture is taking a pragmatic approach with the acquisition of Concrete Solutions by continuing to run the business as a separate unit under the Concrete Solutions brand rather than merging it into its own mobile app group. However, Accenture will integrate ‘go to market’ activities to avoid any potential channel conflict as well as to optimise the opportunity to cross-sell services from both companies. In fact, Concrete Solutions and Accenture have many clients in common. This is unusual for niche consultancies in Brazil, which tend to focus on the SME market. Concrete has always served large enterprises, so is already well known in Accenture’s traditional space.

The acquisition makes good sense for both sides. Accenture gets to enhance and complement its agile development skills that are in increasing demand in the market, while Concrete gains access to Accenture’s global services delivery network and international client base. Though Concrete had been growing fast, reaching beyond Brazil’s borders – the next obvious growth step – would have required considerable investment and high risk. And of course, Accenture has taken a very attractive acquisition and partnering target off the market.

In Brazil, as in the UK, there is little ‘new money’ available for IT. Therefore, there is continuing pressure on legacy application maintenance budgets, with the savings being used to fund agile development of ‘transformational’ business applications. The acquisition of Concrete Solutions will help put Accenture in an even stronger position to win a greater share of this fast-growing part of the market.

Adtech SuperAwesome raises more awesome $21m

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logoDigital marketing to kids rightly brings with it strict compliance requirements, such as embodied in COPPA (Children’s Online Privacy Protection Act) and forthcoming GDPR (General Data Protection Regulation) legislation. Modestly named, London-based adtech developer SuperAwesome got on the case four years ago, and its ‘kid-safe’ advertising and social content platform is now used by top children’s brands around the world.

SuperAwesome has just raised a further $21m in a Series B round led by Mayfair Equity Partners. The startup had previously raised £4.5m a couple of years ago (see ‘Kid-safe’ SuperAwesome raises awesome £4.5m). There had been some media speculation early this year of a £200m IPO (e.g. see City AM) though it’s all gone very quiet since then.

Nonetheless, another great UK tech story gone global.

appScatter Group rides the app economy

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logoFollowing an oversubscribed placing that raised £9m, appScatter Group is expected to debut on AIM on Tuesday (September 5 2017) with a valuation of £41.1m. The first challenge will be maintaining the opening valuation. appScatter, who is riding the app economy, comes to market with a SaaS based application distribution and management platform.

The app store market is dominated by Apple and Google in the US and Europe but there are other regions where they are just two among many. appScatter cites 300 ‘legitimate’ app stores globally. With more suppliers across the overall market creating their own app stores to help build critical mass and open revenue streams, stores are proliferating. For ISV’s and developers using multiple stores, a distribution and management platform makes sense.

There are some appealing features of the product – providers can monitor their own applications but also see stats on other apps, providing insight into competitor performance. This feature could also be used to gain insight into new markets or regions a provider might be thinking of moving into. The key will be making it simple to connect to the right major (e.g. Apple, Google, Amazon, Microsoft, Salesforce) stores plus a large number of smaller and specialist stores. It also needs providers – appScatter has 800 paying subscribers currently. It started generating revenue in January 2017. 

There is a very rich offshoot of appScatter’s core activities – they have the scope to produce large amounts of valuable data. The company is aware of the value but has not worked out how to monetise it yet. Getting this right could make the company - and make it harder for competitors to replicate its proposition.

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