New Zealand tech veteran Blackpearl Group crossed The Ditch on Tuesday for a dual listing on the ASX.
Blackpearl (NZX: BPG) (ASX:BPG) listed at A$0.95 per share having raised NZ$15.1 million las month, but ended its debut down 7.41% at A$0.875 for a market cap of A$83m.
Blackpearl is built around Pearl Engine, a data and intelligence platform that uses bespoke LLMs to access, process, and enrich over 21 billion data signals daily. The company’s products are geared toward the AI-driven sales and marketing for the US market, building software services for SME businesses there.
Pearl Engine enables real time buyer identification and automated revenue actions for customers.
An adjacent marketing product, Pearl Diver, identifies in-market buyers for precision retargeting, while Bebop, launched during the half, generates real time commercial intelligence, insights and tailored sales talking points. B2B Rocket uses agentic AI to autonomously qualify leads and book meetings.
Last month BPG raised NZ$15.1 million raise anchored by Australian institutional investors including Wilson Asset Management, Ellerston Capital, Bell Potter, and Cerutty Macro Fund alongside support from New Zealand brokers Craigs Investment Partners and JBWere joined in the raise.
Ellerston Capital became a substantial shareholder with a 5.47% stake on listing.
Wellington-based Blackpearl was founded in 2012 by CEO Nick Lissette and also has offices in Phoenix, Arizona.
In three years Lisette increased annual revenue by 10x, from $720,000 in March 2022, to $7.74 million in March 2025. At the same time the company’s losses have more than doubled from -$4.34m in’22 to -$9.16m in ’25.
Ahead of the ASX listing, Blackpearl acquired US-based AI outbound sales platform B2B Rocket, bolstering annual recurring revenue by 87%, year-on-year, to $19.5m. The raise helped cover the acquisition costs.
Reporting to the NZX last week, the company posted half-yearly result for the six months to September 30 that revenue was up 59% to $5.153m, while the total net loss grew 89% to $7.564m.
Lissette said the ASX listing was “an intentionally bold move” to reflect the company’s global ambitions.
“A bigger market with deeper liquidity and a global investor audience is exactly the scale our technology is meant to accelerate into at this point in time. We’ve engineered the Pearl Engine for a global runway and today is the ignition point,” he said.
“This has been a year of building our foundation for global scale. We’ve delivered growth in annual recurring revenue, expanded our platform capability, launched new AI products and integrated a major acquisition. Today’s listing is the ignition point that enables us to accelerate into an even wider market.”
Lissette said his strategy is simple.
“Scale Pearl Diver’s DaaS offering, advance Bebop’s early traction, increase B2B Rocket’s commercial contribution and continue building leverage across our fixed cost structure,” he said.
“We’ve built the platform, the products and the engine. Today’s listing accelerates the next phase of global scale.”
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