Brandshield raises £1.5m via share placing

Brandshield said on Friday that it had opted for the placing as part of an effort to make investments in sales and marketing efforts, convert its near-term extensive organic sales pipeline and fund ongoing software development to maintain its market-leading position.

The AIM-listed firm also will also issue a total of 5.35m warrants with an exercise price of 20.0p and an exercise period ending three years following admission to the placees.

Chief executive Yoav Keren said: "We achieved significant strides in 2021 both financially, as demonstrated in our significant increase in ARR, a key metric for the group, and operationally, with our market-leading solution central to our ongoing success.

"We believe this additional funding will enable us to execute on a number of near-term opportunities in our organic pipeline as well as transform our go-to-market strategy to generate sustained long-term growth."

In terms of recent trading, Brandshield said it delivered $5.33m in annual recurring revenues, up 59% year-on-year, while deployments increased 69% to 130 and net retention was up from 86.2% at 96.4%.

As of 1035 GMT, Brandshield shares were down 8.20% at 14.0p.