BrightBid, the AI-driven paid search tech company, has joined forces with Speqta, a holding group listed on the Nasdaq First North Premier Growth Market, in a share deal currently worth around £20m.
Founded in 2020, BrightBid is one of the fastest growing SaaS companies globally seeing 151% year-on-year growth, with $5m in annual revenue over the last two years. BrightBid’s rapid trajectory is no mean feat considering that between 1980 to 2021, the median age of a technology company going public was eight years, for BrightBid to achieve this within three years is a hugely significant step.
Speqta has a number of major investors including Swedbank Robur and is also the owner of Bidbrain.com; an AI-based SaaS company focused on marketing for e-commerce and retail businesses.
The combination of BrightBid’s innovative AI Adtech solutions and Speqta’s strong financial position and international presence is expected to see the merger significantly boost the annual revenues of both companies putting them in a position to supercharge the continuous growth and demand for AI-driven marketing solutions’.
The official press release is here.
