Appnovation Gets Funds for Growth and Acquisitions

Digital consultancy Appnovation has raised £6.8m in a follow-on equity round of financing, which it will use for global expansion and company growth - including scaling its teams in the UK and across Europe - as well as for potential acquisitions.

Appnovation combines technology, strategy, design and analytics to help clients develop user experiences for their customers. Qual and quant data are used to help personalize customer experiences and optimize ongoing operations. The company also maps customer journeys; researches, analyses and tests users; and designs for UI, UX, mobile and interaction.

New funding has been led by a partnership between BGF, the Canadian Business Growth Fund (CBGF), and Export Development Canada. Both CBGF and BGF made initial investments in Appnovation in July 2019, totalling £8.8m, since when the company has expanded its EMEA London-based operations, under the leadership of General Manager Andrew Dunbar.

Founder and CEO Arnold Leung (pictured) comments: 'Over the past year, we've made strategic hires, deepened capabilities and accelerated international growth with the help of an initial round of investment funding. We will continue that global growth trajectory and look at expanding our footprint in strategic markets, like Europe, with this new injection of funding. CBGF, EDC and BGF are the ideal partners because they're invested in our long-term success and share our vision for ambitious growth'.

Web site: www.appnovation.com .