A Manchester-headquartered law firm lead generator has secured funding to support the growth of the business as it looks to strengthen its market position both organically and via acquisition. mmadigital already captures more online leads than any other provider in the UK legal marketplace and boasts more than 70 law firm clients.
Launched in 2016, mmadigital uses proprietary technology to both source and qualify high quality personal injury and clinical negligence leads for a panel of UK law firms. Leads are generated via inhouse consumer brands The Medical Negligence Experts, The Compensation Experts and The Inheritance Experts.
The investment was led by London-based Rockpool Investments (Rockpool). Rockpool provides equity and loan financing to UK SME businesses and has invested over half a billion pounds into the UK private equity market since inception. This investment marks its first foray into the legal services market.
CEO and founder of mmadigital Dez Derry commented:
“This investment from Rockpool marks another stage in our ambitious growth plans. Internet searches for the most common consumer claims are only set to grow and we currently capture more online leads than any other provider in this space as a result of our in-house technology solutions and highly trained staff. We are actively seeking acquisition opportunities, and this investment will enable us to take advantage of those deals as and when they come to market.”
Guy Ellis, Partner at Rockpool, said
“mmadigital represents an exciting opportunity for our investors to support a fast-growing lead generation business with a clear strategy for growth and a market-leading technology. We are very excited to be working with Dez and the rest of the leadership team to help support the business on its next phase of growth. The legal sector has shown remarkable resilience during Covid and mmmadigital’s growth during the pandemic has underlined the attractiveness of the legal market to investors and entrepreneurs alike.”
The deal will enable mmadigital to realise its growth plans, as it continues to invest significantly in technology and infrastructure. 2020 saw the business increase headcount by 50% also moving into new premises with space for an additional 50 members of staff.
mmadigital was advised by Frazer Hall, Knights plc and Crowe UK. Rockpool was advised by Taylor Wessing LLP, HMT, CIL, onefourzero, Catalysis Advisory and Claritas Tax.
The transaction is subject to FCA approval.