POV
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17.08.20
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Sustainability, Technology, Retail, Wellbeing and Fintech predicted to thrive globally post the pandemic
Due diligence, getting investor ready, creating brand playbooks for launch, content marketing programmes to engage new audiences in new territories with new products. We’ve got it covered
Each stage of growth requires a new strategic level of thinking
As the pandemic continues to grip the UK economy, and with our lives remaining on hold in many ways, it appears there are still many opportunities for growth. Throughout the world London remains the most connected startup ecosystem with the UK Tech startup scene raised $5.3BN in venture capital from January to May 2020.
It’s been widely reported that COVID-19 has raised several challenges in an increasingly digital world. Many businesses have had to fast track digital transformation with many companies behind the curve and some still playing catch-up. The healthcare sector is an obvious area of activity. As a whole, the sector is seeking to solve the NHS staffing crisis and bring flexible working to thousands, whilst also seeking efficient tests to combat Covid-19. There’s been an increase in the number of tech health apps delivering medical advice through smartphones and other online tools, while customers are seeking sustainable digital platforms to buy and sell ethical products.
Industrywide, in Q2 2020 alone, many brands have secured varying degrees of funding from seed to series. Bella and Duke, who produce raw, healthy food for dogs and cats, raised £3.5M. Flagstone, a London based company and the UK’s largest cash deposit market place raised £12M. Bikmo, an award winning adventure sports insurance provider, raised £1.8M in Series A funding. Oddbox, a London, UK based sustainable fruit and veg delivery company raised £3M (as a customer I love receiving my box every other week), and Let’s Get Checked, an at home test provider and processor, raised $71M.
Within the same timeframe, in the UK Tech scene specifically we’ve seen Nutshell Software, a Newcastle tech company raise £1.2M. Clim8, a sustainable investment platform secured £1.5M via Crowdcube. Urban Jungle, a disruptive insurer, secured £2.5M while Know the Origin, a sustainable marketplace, raised £300K. In the wellbeing space globally we’ve seen companies such as Tictrac, an employee wellness startup secure $7.5M to expand their SaaS platform in a bid to tackle stress and health problems in the workplace. Likewise, Mindstrong, a digital mental health platform and healthcare company dedicated to transforming mental health secured $100M Series C funding while Imperfect Foods, whose mission is to eliminate food waste and build better food systems for everyone, secured $72M Series C funding.
There are many stages of investment and in each stage the needs of each business are quite different. In short, seed funding, angel and early investment takes a company through concept research, business planning, product development and first commercials, investing in brand communication and sales and marketing. It is typically series funding that really makes a business fully commercial and accelerates growth by growing market share, gaining competitive advantage, expanding their offering and attracting new audiences.
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It’s encouraging to read that across the world many sectors are predicted to thrive post COVID-19. Sustainability, Technology, Retail, Wellbeing and Fintech - with their level of investment from VCs, and the spirit, determination and drive from founders - have a fighting chance of success. We have seen this drive first-hand, having in recent years collaborated and created partnerships with many brands - from startup and SME’s such as W3 Club and Thred Media, to industry titans and well known innovative global house brands such as Timberland, Shiseido, Merrell, DALI and Volvo. All with a clear vision to help them build engaged, active communities and find the growth hiding in their blind spots.
We’ve helped many startups get investor-ready by taking them through an extensive due diligence programme so they have the right collateral produced to speak and engage with investors. We have also created digital playbooks (comprising brand strategy, brand identity and guidelines), built digital platforms and developed social and content strategies for launch. For those further down the line launching new products to market and targeting new customer groups and entering new geographic territories, it’s been about developing comprehensive global content marketing strategies that can be localised to national and regional markets, and then bringing these to life in digital products and experiences that spark positive customer action.
In recent weeks we’ve seen retailers reopen their stores, albeit step-by-step. Some are offering virtual video consultancy to engage shoppers with a personalised digital experience, gyms are seeking to review their subscription models to give members more flexibility for online classes while restaurants adopt new delivery processes as they aim to fulfil orders online. What will be your next pivot to align your services and business to the ever changing needs of the digital savvy consumer?
When you seek to take your business to the next level of growth, talk to us. By tapping into your data and combining that with our experience, we have the ability to deliver amazing results.
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We believe that moving too slowly in digital is the biggest risk your business faces. If you are ready to move faster in digital, we are here to help.