Whispir (ASX:WSP) says it will use the proceeeds of the placement to accelerate its growth strategy, including:
- Fast-tracking its product roadmap;
- Driving new and existing customer growth in ANZ and Asia;
- Increased investment in North American market expansion; and
- Strengthened balance sheet to provide working capital flexibility
Whispir says placement proceeds will be used to accelerate its growth strategy in its three key markets of Australia and New Zealand (ANZ), Asia and North America, “capitalising on global digital transformation and automation trends”.
Whispir has also announced that a non-underwritten Share Purchase Plan to raise up to $3 million will open to eligible shareholders on or around 9 March 2021 at the same issue price as the placement.
Whispir CEO Jeromy Wells said, “Since our IPO in June 2019, Whispir has been executing on its growth strategy, increasing ARR, revenues and customers within our mature ANZ business and growingoperations in Asia and North America.
“Digitisation tailwinds provide a significant opportunity for us to fast-track our product roadmap, delivering higher-value products to drive platform utilisation and adoption.
“Funds raised will also enable us to increase our presence within the competitive North American market, where we are targeting underserved SME and SMB organisations.”