Bank investment supports Makematic to triple licensing revenues
EDUCATIONAL media company Makematic in Derry is making a £200,000 investment in developing a new video licensing platform as brands and educators accelerate their plans to shift to digital learning resources.
It is using the funds to invest in the production of new video content as well as in-house technology to streamline its licensing and distribution.
The investment will also see the business triple its annual turnover from the licensing of its content in the next financial year.
The funds have been secured with Ulster Bank through the UK Government-backed Recovery Loan Scheme.
Founded in 2016 by Catherine Davies and Mark Nagurski, Makematic partners with high-profile brands like Amazon, Adobe, Microsoft and Crayola, and non-profit organisations such as the New-York Historical Society, to produce and distribute short, educational animations and live action videos.
Mr Nagurski said: “It's been a very interesting, albeit challenging time in the education space. There was an overnight shift to digital and remote learning; a development that was already in play, but accelerated by the pandemic.
“For us, this translates to a strong uptick in new business bookings and clients, and with Ulster Bank's support we're now developing a new licensing platform that will enable us to take the business to the next level.”
Ms Davies added: “The technology will overhaul our licensing and distribution process, and this is the cornerstone of our next fundraising round as we speak to private investors in the UK, US and Australia.
“Previously we managed our licensing and distribution manually, but our new platform will be an automated one, generating a consistent revenue stream while we focus on building the business and brand in new markets and sectors.”
Ulster Bank business development manager Aidan McGrath says Makematic is a prime example of how innovative Northern Ireland-based SMEs are achieving significant global reach.
In 2019, the company secured a £1m seed investment from Cordovan Capital Partners, Co-Fund NI and Techstart Ventures.