Proactive, a Toronto-based provider of real-time financial news, investor outreach tools and websites for listed businesses, has closed a Series B financing. No financial terms were disclosed. The round was led by Yorkville Asset Management.
Toronto, June 02, 2021 (GLOBE NEWSWIRE) — Proactive (the “Company”), a leading global provider of real-time financial news, investor outreach tools and websites for publicly listed growth companies, is pleased to announce that it has concluded an oversubscribed Series-B financing.
Two institutional investors subscribed for the majority of the offering. Since 2018, when Proactive completed its Series-A financing, the Company has grown sales by 274%, established three broadcast studios in North America, and doubled its editorial, broadcast and customer support teams to 80 members.
Proceeds from the Series-B round will be used for organic growth and to fund merger and acquisition activity. The financing was led by Yorkville Asset Management in Toronto.
“The past 18 months have seen a marked acceleration in demand for Proactive products as companies learn more about digital communication tools and their potential to play an accretive role in multiple aspects of their business,” said Proactive Chief Executive Officer Ian Mclelland. “The success of the Series-B financing, and the quality of the investors who participated, is a strong endorsement of our business model and outlook for further growth in the medium and long terms.”
Proactive provides written and broadcast news coverage, digital marketing services, corporate websites, and sponsored research to a client base of over 1,100 companies in the US, Canada, UK, and Australia.
With six offices on three continents and a team of experienced business journalists, broadcasters, website developers and management, Proactive works with innovative growth companies quoted on the world’s major stock exchanges, helping executives to engage intelligently with investors.
In 2020, Proactive featured in 809 million search results, our content was viewed over 165 million times and our readers spent over 10 million hours on our websites. Proactive has produced over 300,000 articles and 20,000 executive interviews since it was established in 2007.