Ecommerce Marketing Platform Bidnamic Doubles Revenue
Liam Patterson and Dr Ingvar Kraatz
Leeds-based marketing technology company Bidnamic has announced a100% year-on-year increase in turnover. The growth in revenue follows a surge of high profile client wins, in which the company welcomed more than a hundred new retail clients over the past 12 months.
Bidnamic offers a machine learning technology platform which automatically optimises Google Shopping campaigns at a granular level, increasing revenue and profitability for ecommerce advertisers.
The business has risen from relative obscurity three years ago to now managing hundreds of millions in Google Shopping advertising budgets. Its clients include three of The Times Fast Track 100 fastest growing retailers in the UK; Lounge Underwear (1st), Chilly’s Bottles (2nd) and Oh Polly (6th).
Since the beginning of 2021, Bidnamic has focused on serving a growing customer base in the US where it already supports iconic West Coast fashion brand Volcom and Good Eggs Inc, a Google Ventures backed online grocer.
To facilitate international growth the team has increased from 40 at the end of 2020 to over 60, and is planning to surpass 100 before the end of year. Over the past 12 months, the company has bolstered the senior management team by bringing in Alun Davies, ex-Marketing Director for global digital marketing agency Search Laboratory, as CMO, and Aine McLaughlin, ex-Group FD for Clear M&C Saatchi, as CFO.
To accommodate this growing team the company this month has opened a second, 1,300 sq.ft office in Leeds, and has earmarked an office in the USA for early 2022.
Liam Patterson, Founder and CEO at Bidnamic, said: “Despite the easing of restrictions around non-essential stores last month, it’s clear that the pandemic has forever changed consumer shopping habits. People no longer look to brick and mortar stores for their shopping needs and the long term success of retailers depends on them embracing the latest ecommerce and digital marketing technologies.”
The business is backed by some of the biggest names in ecommerce and technology such as the co-founder of Booking.com, a board advisor to Net-A-Porter and the CEO of leading performance marketing agencies NMPi and Forward, all of who invested after seeing the transformational impact of Bidnamic’s technology on their own portfolio companies.