Venture capital firm BGF said it has invested a further £5.5 million in Manchester-headquartered digital media business KOMI Group.

BGF made an earlier investment in the firm in 2022. It said the additional funding will allow KOMI Group to continue its growth, with a focus on international expansion and strategic mergers and acquisitions.

Founded in 2015, KOMI Group creates and curates content for social media under brands such as ‘It’s Gone Viral’ and ‘Happiest’. It works across all major social media platforms and with a number of brands and content creators. Across its various channels, the company has about 113 million followers generating more 2.5 billion monthly views.

Sam Lenehan, Group MD at KOMI Group, said: “We’ve experienced a period of good growth with BGF’s support and created strong foundations to accelerate our global expansion. With renewed backing, we’ll look at US acquisitions where we can partner with agile, independent companies, to drive innovation and grow more rapidly as a combined entity. We were attracted to BGF because of its flexible model and ability to provide follow-on funding, so we can capitalise on growth opportunities. We’re energised by this investment and have a number of live opportunities ready to put the capital to work.”

Rhys Davenport, who led both the follow-on deal and original investment for BGF, alongside fellow BGF investor Courtney Walker, said: “KOMI has significant potential for global growth, and a track record of scaling its platform and reach organically. With a disruptive offering and innovative approach to the market, the team will look towards M&A to continue with this trajectory.”