London-based private equity firm Rockpool Investments has made its first foray into legal services, providing growth funding to online law firm lead generator mmadigital.
Launched in 2016, mmadigital uses a proprietary lead generation platform to generate qualified leads for its base of over 70 law firm clients. Leads are generated via inhouse consumer brands The Medical Negligence Experts and The Compensation Experts.
Rockpool, which was founded in 2011 by CEO Dez Derry, 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. The amount of this raise was undisclosed
Guy Ellis, a 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 mark tor 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.
CEO and founder of mmadigital Dez Derry said: “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.”
The transaction is subject to FCA approval.