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Browne Jacobson advised Next Fifteen Communications Group plc on $4m Series A funding in MarTech company Phrasee

7 September 2018

The Browne Jacobson corporate technology team has completed another Series A funding round, advising AIM-listed global technology-enabled communications business Next Fifteen Communications Group plc (Next 15) on its follow on investment in Phrasee, the London-headquartered marketing technology company.

The $4million investment round was led by Albion Capital, with Next 15 and angel syndicate Galvanise Capital providing follow-on funds from their initial investments in 2016.

Browne Jacobson corporate technology partner Jon Snade led the Next 15 team, assisted by corporate solicitor Sam Sharp.

Phrasee uses artificial intelligence (AI) to generate optimised marketing copy and is the market leader in AI marketing language generation. The business, which counts Virgin, Domino’s, Superdry and The Times amongst its clients, combines Natural Language Generation and Deep Learning to arm marketing teams with brand-compliant copywriting firepower. Phrasee’s AI writes email subject lines, Facebook & Instagram ads and push notifications that perform better than human-written versions. 

The investment will fuel Phrasee’s international growth plans, including scaling up its new US operation in San Francisco and the recently announced expansion of its UK team.

Nick Lee Morrison, General Counsel of Next 15, said: “We’ve been working with Phrasee for some time now and it’s a fantastic company with a great vision, ethos and team. Completion of this Series A investment will help Phrasee achieve its global ambitions. We would like to thank the Browne Jacobson corporate technology team for their expert advice and support in helping us and the other stakeholders in the transaction to reach a successful completion.”

Jon Snade added: “It has been a pleasure to advise Next 15 on this transaction. We have a solid track record of advising on corporate transactions involving high-performing UK technology businesses, acting both for the investee companies as well as for investors. We congratulate all parties to the deal on completing this investment which will assist the business in achieving success during the next phase in its growth story."

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