Digis is an international software development company. Our mission is to raise unicorns from startups. It means we not only develop software, but also help them with business strategy, and provide access to our global network of mentors and industry experts. Digis also invests cash into the projects in which we see potential that we can unlock.
When we invest in our start-up clients by various means, the principle is simple: we will only earn money when the company grows.
One of our recent success stories is Raters — a UK-based movie recommendation platform and a social network. With this app, you get a personalized feed with the movies your friends have watched or are planning to watch. When you find a movie you are interested in, you will also see reviews from Raters friends and where to watch it online.
Digis team has been working with Raters since late 2018. We started with building and then releasing the mobile app, as well as advising them on the general product and business strategy. Our team truly enjoys working with them.
On the rise of pandemics, they felt a lack of resources to continue development. At the same time, it was clear that Raters, should they continue to operate, would gain a great growth in users who were spending more time on platforms related to entertainment because of the lockdown.
Additionally, they were in the process of fundraising and needed a reliable business plan with a stronger product to present to venture capitalists.
Digis leaders saw Raters’ potential and wanted to help. Following our mission, we agreed to develop the app further in return for equity, which turned us into their partners and co-owners. Prior to their next fundraising in January 2021, Digis team had developed a Web version of the platform and improved the mobile app even further.
7 months later, Raters closed their next funding round, and the company’s market value grew 10-fold between July 2020 and January 2021.
Raters Group was advised on their funding round by growth advisor Small Harbour. Malachy McDonnell, founder and director at Small Harbour, commented: «We were delighted to support the strong team at Raters. Together we hit the key requirements to attract funding:
1) a strong solution to a clearly identified market opportunity;
2) a compelling case within the strategy already underway and
3) a well-prepared business plan with a precisely articulated storybook as to how the investment would be applied to deliver increased value for investors.
We connected Raters to a robust database of qualified investors, amongst whom both the opportunity and EIS qualification generated significant appetite and we completed the funding within our timetable».
Raters management intends to use the attracted funding to further develop their platform, scale their user base, and even considers filing for a patenting of their movie recommendation algorithm in the USA. During the first month after the fundraising, Raters MAU has organically increased by 363.5%.
The Company plans to go for Series A funding round this September in order to fuel its user growth and further platform development. If you want to be updated on the Raters fundraising activities, subscribe to their newsletter or drop an email to their co-founder at [email protected].