LoopUp raises £8.5m in ‘first’ post-Brexit tech IPO

Conference call start-up floats shares on AIM for 100p

Conference call start-up LoopUp floated on the London Stock Exchange this morning, bringing its valuation to 40.8 million.

The London-based firm claims to be the UK's first tech firm to go public since the country voted to leave the EU, and it raised 8.5 million by selling shares at 100p each on the London Stock Exchange's AIM market its shares rose to 110p later this morning.

Co-CEO Steve Flavell said in a statement: "The completion of the IPO process marks an important and exciting milestone on LoopUp's journey as a UK-headquartered and internationally-minded technology company, and provides a significant catalyst for our continued growth.

"The reception from investors has been positive and encouraging, and reinforces our belief that our differentiated product, business model and plans for the future provide the foundation needed to deliver on our potential as a public company.

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

"Our focus will continue to be on delivering an exceptional product and service to our customers around the world, supported by the funds we've raised and emboldened by the faith our new shareholders have placed in us. These are exciting times."

LoopUp hopes to differentiate itself in the conference call space by reducing noise interference, dialling out participants, rather than them having to remember the relevant codes themselves, while showing who is on the call and who is speaking.

Michael Hughes, co-CEO, told CNBC this morning: "When you think about most people's everyday conference calling experience, it is pretty poor, and I think investors have been very surprised to discover that over 14 billion of wasted time occurs in the US and the UK alone. What LoopUp's all about is trying to use the tools that you have with you everyday to solve these problems."

Featured Resources

What you need to know about migrating to SAP S/4HANA

Factors to assess how and when to begin migration

Download now

Your enterprise cloud solutions guide

Infrastructure designed to meet your company's IT needs for next-generation cloud applications

Download now

Testing for compliance just became easier

How you can use technology to ensure compliance in your organisation

Download now

Best practices for implementing security awareness training

How to develop a security awareness programme that will actually change behaviour

Download now
Advertisement

Recommended

Visit/business-strategy/startups/354539/uk-tech-investment-jumps-44-despite-brexit-uncertainty
startups

UK tech investment jumps 44%, despite Brexit uncertainty

15 Jan 2020
Visit/cyber-security/34763/the-eu-calls-for-cyber-security-pact-with-post-brexit-uk
cyber security

The EU calls for cyber security pact with post-Brexit UK

6 Nov 2019
Visit/business-strategy/34447/can-the-uks-tech-sector-still-attract-investment-after-brexit
Business strategy

Can the UK tech sector still attract investment post-Brexit?

19 Sep 2019
Visit/business-operations/33930/it-pro-panel-the-truth-about-talent
Business operations

IT Pro Panel: The truth about talent

1 Jul 2019

Most Popular

Visit/policy-legislation/data-governance/354496/brexit-security-talks-under-threat-after-uk-accused-of
data governance

Brexit security talks under threat after UK accused of illegally copying Schengen data

10 Jan 2020
Visit/microsoft-windows/32066/what-to-do-if-youre-still-running-windows-7
Microsoft Windows

What to do if you're still running Windows 7

14 Jan 2020
Visit/operating-systems/microsoft-windows/354526/memes-and-viking-funerals-the-internet-reacts-to-the
Microsoft Windows

Memes and Viking funerals: The internet reacts to the death of Windows 7

14 Jan 2020
Visit/operating-systems/25802/17-windows-10-problems-and-how-to-fix-them
operating systems

17 Windows 10 problems - and how to fix them

13 Jan 2020