Hyble, a marketing technology firm serving the hospitality sector, has secured £2.8 million in its latest round of funding, with £2.5 million provided by the Business Growth Fund (BGF) as a follow-on investment.
The capital injection will help the company build on recent momentum, particularly after its expansion into the US market and a multi-year contract with Southern Glazer’s Wines and Spirits (SGWS), a major alcohol distributor.
Hyble’s entry into the US market has driven significant growth, with a 73% year-on-year increase in revenue during the first quarter. The company’s team has grown to nearly 100 people across the UK and the US over the past year.
Along with well-known clients such as Pernod Ricard, Diageo, and Bacardi, Hyble has also launched with soft drink customers in Ireland and Germany.
Hyble’s technology platform is designed to help brand owners and wholesalers provide enhanced marketing support to their customers, offering tools to create marketing materials that can boost visibility and increase product sales.
Craig Letton, Hyble’s Chief Executive Officer, remarked, “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 doors it has opened for us.”
Euan Baxter, investor at BGF 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.”
With this new funding, Hyble plans to continue its expansion and capitalize on the growing opportunities in the hospitality sector, both in the UK and internationally.
