Blackpearl Group Defies Economic Headwinds; Surpassing $10M ARR And Launching Capital Raise

Black Pearl Group Limited (NZX:BPG) has announced a key milestone in its hyper-growth trajectory, reaching $10.4 million in Annual Recurring Revenue (ARR) as at 30 September 2024 - a 126% increase year-on-year. The company has also announced a $10m capital raise.

“These results are a testament to Blackpearl Group’s global leadership in innovative AI-driven sales and marketing solutions,” comments Karen Cargill, company Chief Financial Officer. She adds that “The company’s focus on product development was supported by a sound go-to-market strategy and focus on scaling which has seen us quickly meet our targets for expansion.”

Gearing up for growth

Launched just 19 months ago, Pearl Diver is one of the key drivers of these results. The industry-leading prospect identification platform is used by companies to create a new flow of prospects from businesses’ websites. It achieves this by leveraging AI-driven identity resolution technology to uncover hidden website traffic, thereby reducing a company’s dependency on traditional digital advertising and providing a new pathway to revenue.

Coupled with laying the groundwork for its next phase of growth by scaling its infrastructure, market presence and the enhancement of its platform to meet growing demand, Cargill believes the company is at an inflection point in terms of its next stage of growth.

Capital raise kick-off

To support further scale, a $10 million capital raise has been announced to market (Details here). “We’ve proven that we have the momentum needed to power expansion. The establishment of Pearl Diver's market presence is only the beginning of what we believe will be exponential growth,” says Cargill.

Blackpearl Group’s Q2 Results Announcement will follow shortly.

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