Listed video analytics firm anticipates 80% growth
A London-based listed consumer video analytics provider has announced half-year revenues anticipated at £1.1 million, reflecting an 80 per cent increase over the same period in 2018.
Big Sofa Technology’s software platform collates, analyses and organises large volumes of raw and unstructured video, enabling its clients to perform detailed consumer insight analysis.
The firm’s clients include household names such as McDonald’s, Nestle, Unilever, British Airways, and International Flavors & Fragrances.
The company said it was seeing increased engagement with Ipsos, one of the world's largest market research organisations and a significant shareholder in the company.
It said it had also seen growing traction and repeat subscriptions from existing global customers, and new customer acquisition in a diverse range of sectors, including manufacturing, technology and retail.
Founded in 2008 by Matt Lynch and Simon Lidington, the company has received a total of £716,000 in funding and went public in 2016.
Lynch has experience in leading engagements for blue chip organisations including Procter and Gamble, Coca Cola, Unilever, BP, and Barclays.
Lindington remains co-founder and consultant for the firm, but stepped down from CEO duties in 2018 to be replaced by Kirsty Fuller.
The board said it expects the firm’s revenues to grow significantly in the second half of its financial year while maintaining a tight focus on cost control.