MEDIA RELEASE: 9 December 2020: Pureprofile Limited (ASX: PPL) today announced a major recapitalisation which resets the companies debt position and provides additional capital to fuel future growth.
Under the $18.8 million recapitalisation, in addition to reducing debt, Pureprofile has raised $3.5 mil for future growth and investment. The funds will allow Pureprofile to deliver on its growth strategy by growing its data sources, expanding its Software-as-a-Service offering, and delivering more targeted media campaigns for clients, through the use of first-party data.
Martin Filz, CEO of Pureprofile commented: “This recapitalisation caps a turnaround year for the business in 2020. Thanks to support from our shareholders and investors we have been able to reset and invest in the future.”
“We face 2021 in a strong financial position, with cash in the bank for growth. Equally important, operationally the business is now completely focused on fast-growing global markets in the exciting area of data acquisition, analysis, insights and media,” he added.
With a footprint in Asia Pacific, US, Europe and India, Pureprofile is a data, insights and digital advertising business that helps brands and agencies identify, connect and engage with consumers. A global leader in market research services, the business boasts a large consumer panel and a suite of technology products designed to deliver more value from the world’s data.
In the second half of 2020, Pureprofile appointed Martin Filz as CEO, relaunched its Australian media business as Pure.amplify, and brought on new senior management in Singapore to spearhead APAC business development.
Andrew Edwards, Chairman, Pureprofile, said: “Those that have followed Pureprofile’s story closely over the past couple of years would appreciate the size of the opportunity that our expertise in data acquisition, analysis and insights provides shareholders. The amount of data being generated through the burgeoning digital economy is an exceptional opportunity for businesses to reach consumers. However the changing privacy and regulatory landscape will completely change the way that data is used, and this is where Pureprofile is perfectly positioned to take advantage of significant global unmet needs.”