UK-based tech company MPP Global has secured $15 million in a Series B financing round and plans to expand into the Amerian market.
MPP Global, which works with U.S.-based McClatchy, UK's Daily Mail, Sky, The Irish Times andCanada's Winnipeg Free Press, provides an ecommerce digital monetization platform called eSuite to build a paywall for publishers to drive subscription revenue, by converting and retaining paid users.
MPP Global plans to use this new funding, from Albion Ventures and Grafton Capital, to grow their U.S. team in New York, as well as sign additional American publishers and OTT operators.
MPP Global CEO Paul Johnson told Publishers Daily the eSuite platform is being rolled out across publications owned by Sacramento-based McClatchy, which it teamed up with last fall.
McClatchy owns publications in 29 U.S. markets in 14 states, including The Miami Herald, The Sacramento Bee, and the recently acquired Herald-Sun of Durham, North Carolina.
MPP Global’s technology can also collect data from readers to determine what type of subscription offer to serve them, based on their profile and reading habits.
The company assists publishers to reduce the amount of churn — or subscribers who cancel their subscription or do not renew — by determining key facts, such as how to engage with a subscriber if their credit card on file expires.
Johnson said he is wants to bring on “additional partners to enjoy the successes we’ve seen with our European clientele.”
MPP Global hopes to expand into Asia Pacific.
Keith Wallington, the former COO of Mimecast, has joined McClatchy as chairman.