“At the start of this year we’d taken about $3m in expansion funding, largely from angel investors. We have a lot of very high-profile individuals and very successful technology individuals who are backing us," Gregg says.
"Then we took a small proportion from NewMedia Spark, who backed M&A intelligence service Merger Market. That was part of the reason we took it.
“There are certain elements of what we do that are similar to what Merger Market does, although we’re much more focused on verticals. We’ve developed a very powerful software platform.”
Gregg describes the product, StrategyEye, as a “Bloomberg for digital media”. He explains: “It’s like a single dashboard where you can go in and you can see everything that goes on in your industry.”
The initial focus was on selling the product to big media companies (current clients include BSkyB, MTV, ITV and Disney), but extra investment means it can be rolled out to the financial services industry.