Blackpearl reports $10.4m ARR, raises $10m funding

New Zealand company, Blackpearl, has reported a significant milestone by reaching over $10 million in Annual Recurring Revenue (ARR) this year.

Blackpearl is known for building and marketing data-driven services for small and medium-sized businesses.

In addition to this financial achievement, Blackpearl has announced a capital raise of $10 million to further support its expansion plans. Karen Cargill, the company's Chief Financial Officer, attributed these accomplishments to the firm's focus on product development and an effective go-to-market strategy. Cargill stated, "These results are a testament to Blackpearl's global leadership in innovative AI-driven sales and marketing solutions." She further emphasised that the combination of strategic product development and scaling efforts facilitated the achievement of their expansion targets.

A significant factor contributing to the company's recent success is the performance of Pearl Diver, a prospect identification platform launched 19 months ago. This platform enables businesses to generate a new stream of prospects by utilising AI-driven identity resolution technology. Pearl Diver effectively analyses hidden website traffic, offering companies an alternative to traditional digital advertising and providing a novel avenue for revenue generation.

In anticipation of continued growth, Blackpearl is enhancing its infrastructure and market presence while also improving its platform to meet growing customer demands. Karen Cargill expressed confidence in the potential for future development, remarking that the company is at a pivotal point in its expansion journey. She stated, "We've proven that we have the momentum needed to power expansion. The establishment of Pearl Diver's market presence is only the beginning of what we believe will be exponential growth."

The announced capital raise seeks to provide the financial backing required for the company's upcoming growth stages. The planned infusion of funds is expected to support the scaling of operations and market capabilities, aligning with the company's focus on leveraging opportunities for exponential growth.

Blackpearl's recent achievements, particularly the progress made with Pearl Diver, underscore the company's strategic emphasis on utilising innovative technologies to enhance market performance and client engagement. The upcoming announcement of the company's second-quarter results is anticipated to provide further insights into its financial and operational performance.