Project overview:

In 2017 The Floow – one of the largest organisations in the global telematics industry focused on individual mobility – confirmed that it had received £13m equity investment.

With existing investor Direct Line Group, the UK’s leading personal motor and home insurer, as well as leading Chinese investment group, Fosun, and United Electronics Co., the deal further accelerated the company’s strong momentum and global growth.

It was also dedicated to supporting the strategy of the leadership team – led by founder and CEO Aldo Monteforte – which is focused on delivering the insurance industry’s best predictive analytics and enriching end user experience to the point of mass market adoption.

MK Brief:

To raise awareness of the deal amongst relevant stakeholders in a bid to raise awareness of The Floow, to promote the firm’s projected growth, to reiterate key messages including the company’s position one of the largest independent computer and data science organisations and to affiliate the business with the prestigious and well-recognised investors.

Strategy:

To coordinate efforts with the three investors in order to communicate the deal across:

• Social Media
• Media Relations
• Wider stakeholder engagement platforms including e-bulletins and corporate websites.

In addition to the above, the MK team also engaged with the No. 10 press office in order to obtain a quote from the PM re. the firm’s continued growth and contribution to the tech sector in the Sheffield City Region.

Results:

In addition to strong interaction and engagement on The Floow’s social media feeds – including Linked In and Twitter – coverage achieved following the announcement exceeded 100 mentions in relevant national and international trade press, regional business press and international news wires.

Highlights included:

• Insurance Business Magazine: Major Chinese conglomerate invests in British telematics firm:
• Post Online: Fosun helps The Floow raise £13m
• Sheffield Star: Prime Minister says Sheffield can power engineering revolution
• Manufacturing Forum: Chinese Firm Gets With The Floow
• Telematics News: £13m Investment for UK Tech Firm

This was in addition to activity in China, secured working in partnership with the Asia-based investors.

The quote from Prime Minister Theresa May, read: “Today’s announcement of a £13m investment into Sheffield’s thriving tech sector by three firms, including foreign investors, demonstrates the faith they have in the future of Sheffield.

“It’s great news for The Floow, which will be able to use the cash to double its workforce and carry on expanding the cutting-edge car safety technology that has seen it create 70 high skilled jobs in the city.

“But it’s also great news for the rest of Sheffield, as it clearly shows that the city is open for business.”