Portfolio Updates

Access accelerates global growth and invests in Sales and R&D


Access Intelligence, (a SaaS platform for marketing and communication industries) reported results for the 12 months to November 2020 showing strong recurring revenue growth. 

Access signed an impressive list of new logos during the second half of the year and announced the completion of a £10m placing in December 2020, supported by Kestrel, to further develop its product suite, accelerate its expansion overseas and provide a stronger balance sheet for M&A.

Kestrel Insight

Access enters FY21 in a strong position, with an ACV base of £21.9m, an excellent customer list, a solid balance sheet and ambitious plans to further increase its rate of growth through investments in product and sales.

The key value driver for Access is recurring revenue; after a strong H1 it delivered an even stronger H2, with growth in ACV (Annual Contract Value – equivalent to Annual Recurring Revenue) more than doubling the level achieved in H1. New customer wins in H2 included big brand names such as Amazon, Lamborghini, Comic Relief, European Food Safety Authority, LinkedIn, Linklaters, McLaren Racing, Publicis, Saatchi & Saatchi and Unicredit. Access is winning new business against global competitors such as Cision, Kantar and Meltwater.

The £10m placing was supported by existing shareholders, including Kestrel and the Company’s directors, while strong demand from new institutional investors enabled a share overhang to be cleared. The new capital will, among other things, allow the company to accelerate investment in sales and product development, building on the successes delivered in 2020.

Sales investment is focused on enhancing Access’ presence in the US, its largest global market, and Asia Pacific, the fastest-growing social media market; where Access already has strong customer experience.

New product developments include further integration of the three core products, enhanced audience profiling and the construction of valuable new data sets, each targeted at customer and market demand.

We believe the Access solution satisfies a growing demand for more sophisticated and comprehensive analytics solutions, where an ability to understand audience mindset is increasingly important.

We look forward to further progress in 2021.

 

Kestrel’s Portfolio Updates should neither be construed as investment research, nor the provision of investment advice, nor a recommendation. This article should be viewed as short term commentary only based on the latest economic statistics, company results or information on upcoming releases or events. It is only a brief unsubstantiated summary of Kestrel’s opinion on such information as at the date of publication and no reliance may be placed upon any contents of this article by the recipient.


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