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BGF has completed a £2.5 million follow-on investment into Edinburgh-based hyble, as part of a £2.8 million funding round. hyble is an industry-leading provider of marketing technology (martech) to the global drinks and hospitality sector.
The funding will be used to capitalise on momentum following hyble’s successful US launch and the recent signing of a multi-year contract with the world’s preeminent distributor of beverage alcohol, Southern Glazer’s Wines and Spirits (SGWS).
Craig Letton, CEO at hyble, said: “We’re pleased to secure this new funding at an important moment for hyble’s long-term growth trajectory. Having recently relocated to the US, I’ve seen first-hand how our technology is having a game-changing impact for our customers. We’re particularly excited about the scale of the opportunity with SGWS, and the opportunities it has created, as we are now ideally placed to capitalise on this.”
hyble’s expansion into the US has driven 73% year-on-year revenue growth in Q1 of 2024 and the growth of hyble’s team across the UK and US to almost 100 people in the past year.
In addition to an already impressive client list, which includes leading drinks brands Pernod Ricard, Diageo and Bacardi, hyble has now launched with soft drinks customers in Ireland and Germany — proving the value of its software in growing adjacent markets, and solidifying their position as a major player in the martech landscape.
hyble is benefitting from identifying two major trends in the sector: a move to self-serve design and on-demand print. hyble’s intuitive and scalable technology platform enables brand owners and wholesalers to dramatically increase the level of marketing support they provide to their customers. Its technology allows users to create high-quality, highly customisable marketing materials quickly and easily, which increase brand visibility and product sales.
Euan Baxter, BGF Investor and board member at hyble, said: “We’ve enjoyed working with Craig and the wider hyble leadership team since our initial investment in 2020. During that time, we’ve seen the business deliver significant growth. We look forward to the next chapter as the company explores a wider range of applications for its sector-leading technology.”
