Schroder UK Public Private Tst plc Investment in Attest (7461S)
18 November 2021 - 06:00PM
UK Regulatory
TIDMSUPP
RNS Number : 7461S
Schroder UK Public Private Tst plc
18 November 2021
Schroder UK Public Private Trust plc
Investment in Attest
Schroder UK Public Private Trust plc (the "Company") is pleased
to announce it has made a $7.0 million investment in leading market
research technology platform, Attest Technologies Limited
("Attest"), as part of its $64 million Series B funding round. The
investment in Attest is the third new private equity investment
since the appointment of Schroder Investment Management Ltd as the
Company's portfolio manager and further progresses the continued
rebalancing of the portfolio with Attest being the first business
services sector investment to enter the portfolio.
Attest's Series B funding was led by an undisclosed growth
investor with participation from specialist tech investment firm
Kismet and existing investor, leading global venture capital firm
NEA.
Attest has built an intuitive software as a service platform
which aims to make checking ideas and actions with target consumers
as second-nature as checking the time, so every business decision
can be grounded in data. Using Attest's technology, surveys can be
created and distributed to target consumers in as little as 90
seconds and results are significantly higher-quality, more
reliable, representative, and delivered faster than ever previously
possible. This self-serve technology is supported by Attest's
in-house team of research experts, leading to trustworthy data that
brands can rely on.
Attest has achieved record revenue growth during the pandemic,
driving the accelerated importance of customer and market
understanding to organisations who are seeking competitive
advantage and business growth. Attest has continued to support and
grow its ever-expanding client base, including Microsoft,
Santander, Walgreens/Boots, Wise, Klarna, Organic Valley and
Fabletics. Attest's consumer reach has also increased, with brands
now able to access more than 110 million people in 49 countries.
Via Attest, this power is now open to any user, in any business to
consumer company, on-demand any time.
This latest round will help further accelerate Attest's
expansion in both Europe and North America, as well as the
company's mission to make high quality research simple, fast and
powerful for everyone on a continuous basis.
This investment is in line with the Company's focus on backing
innovative UK businesses with disruptive innovation, significant
global growth potential, high quality management teams and
supported by highly reputable co-investors. The Company is
committed to improving its sustainability profile and intends to
disclose where appropriate the United Nations' Sustainable
Development Goals ("SDGs") associated with new investments. The
investment in Attest is in line with SDG 8 "Decent Work and
Economic Growth" and Target 8.2 "Achieve higher levels of economic
productivity through diversification, technological upgrading and
innovation, including through a focus on high-value added and
labour-intensive sectors".
Tim Creed and Roger Doig, Portfolio Managers of the Company,
jointly commented: "We are delighted to announce the third new
private equity investment since our appointment as portfolio
manager. We believe Attest represents a high-quality addition to
the portfolio with significant growth potential. In the current
business climate, the importance of operating in a customer-centric
manner and continually monitoring consumer behaviour has never been
greater and Attest is revolutionising access to high quality
insights for brands around the world. The company's ambition to
make market research available to everyone and democratise data
represents a sizeable market opportunity which is multiples of the
existing traditional market research sector. We look forward to
supporting the company on its journey over the coming years".
Enquiries:
Schroder Investment Management Limited
Estelle Bibby (Press) 0207 658 3431
Gareth Faith (Company Secretary) 0207 658 5264
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