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Key step in continued expansion of Railsbank’s Banking as a Service (BaaS), Cards as a Service and Credit as a Service products, and Embedded Finance proposition across Europe, Asia Pacific and North America
London, 14th July 2021 - Railsbank, the leading global Embedded Finance platform, has raised USD$70 million in its latest funding round.
The latest fundraise was led by Anthos Capital and attracted a range of investors including Central Capital (VC arm of Indonesia’s largest privately held bank), Cohen and Company (the founder of Bancorp), and Chris Adelsbach’s new fund Outrun Ventures. Existing investors also participated.
Railsbank will use the funds to further expand its various Embedded Finance products (Banking as a Service, Cards as a Service, and Credit as a Service) across Europe, Asia Pacific and North America, to help its customers remodel and democratise access to the financial services industry. The Railsbank platform is used by customers such as fintechs, telcos, supermarkets and consumer brands to innovate fast and radically improve the way millions of consumers and SMEs access, use and manage their money.
Railsbank is unique in the Embedded Finance market, offering the only truly global platform; by having rails directly connected into the financial system thus bypassing the industry legacy infrastructure; and being both a regulated financial institution and principle card issuing member of Visa and Mastercard. It maintains that many of the Embedded Finance and BaaS providers in the market today are just software layers sitting on top of legacy financial institutions. This means that although customers benefit from improved APIs, they still have to endure the underlying industry legacy infrastructure, operations, risk policies and ways of working.
“Think of Railsbank as being the financial services layer of the Internet,” said Nigel Verdon, CEO and co-founder of Railsbank. “We are transforming the finance industry in the same way that Apple did to the music industry when they created iTunes. Too much of the current global financial services system is made up of aging legacy technology and operational processes, making it unnecessarily complicated, highly expensive and nearly impossible for innovators to create the ‘Spotify’ of financial services.
“We are changing that at Railsbank by combining our ‘zero legacy’ platform with deconstructing financial services into individual digital components. Because we have created these individual financial components, our customers can easily embed financial products directly into their own customer experiences at exactly the point where consumers and SMEs need financial services, not at the point when traditional providers forced them to. This will finally make financial services customer centric and inclusive, rather than the situation today which is institution centric and exclusive.”
Betsy Cohen, Chairman of Fintech Masala and founder of Bancorp, added: “The market has evolved so rapidly since we founded the world’s first BaaS business, the Bancorp. As we move into the $7 trillion embedded finance market, it has been great watching Railsbanks growth story. With this investment, its a privilege to continue to be part of the journey with a global leader like Railsbank.”
Chris Adelsbach, Managing Partner of Outrun Ventures, commented: "Outrun Ventures are thrilled to support Railsbank in their recent financing. Ive had the benefit of being on the front-line of Railsbank as an early investor and Advisory Board member and have been incredibly impressed by their growth. More importantly, as an early stage fintech investor, Ive witnessed a remarkable change in the volume of companies that are building next generation businesses using Railsbank. I speak to dozens of founders every week and Ive rarely gone through a week where a company doesnt tell me that they are working with Railsbank. When I asked them why, their collective responses gave me the conviction to make a later stage investment. Embedded finance makes financial services far more accessible for customers and Railsbank has a solution that is in a league of its own.”
- Significant investment by Luminate will help Compliance & Risks rapidly expand its technology and service offerings to strengthen its global market position.
- Leading product compliance SaaS provider helps enterprises ensure their products get to market faster by staying compliant with global legislation. C&R has the world’s most comprehensive database of product regulations, standards and requirements.
CORK, IRELAND, SAN FRANCISCO, CA and BUFFALO, NY, July 12th 2021: Compliance & Risks, (“C&R”) the leading provider of market access and product compliance SaaS solutions, today announced that it received a significant investment from Luminate Capital Partners, an enterprise software focused private equity firm. Luminate will partner with CEO Joe Skulski and the C&R team to drive rapid expansion across its technology, services, client and global employee base.
Compliance & Risks’ market leading SaaS platform, C2P, enables uninterrupted market access for enterprises selling products globally by monitoring and managing key product requirements, regulations and standards in their chosen markets. The C2P platform provides the world’s most comprehensive database of legislative information, insights and actions, linked to product workflows, to help clients bring products to markets faster with lower risk and ensure on-going compliance.
Compliance & Risks is recognised as the leading end-to-end global product compliance solution provider across the technology, consumer goods and retail, industrial goods and life sciences sectors. The company serves over 200 global enterprise customers including: Bose, Tesla, Vaillant, Unisys, Samsung and Fujitsu. C&R is headquartered in Cork Ireland with global presence in Buffalo, Brussels and London.
“This announcement is a huge milestone for the organisation,” said Joe Skulski, CEO, Compliance & Risks. “Our new investors are placing a significant vote of confidence in our vision, our people and our technology. This investment, combined with Luminate’s track record of scaling SaaS companies will help us extend our market leadership, building upon our category defining technology and deep international product regulatory knowledge and market access expertise. We have a very exciting future ahead of us.”
“Today’s enterprises are faced with a vast, rapidly evolving and complex range of regulatory requirements and the operational challenge of maintaining global product compliance continues to increase,” noted Dave Ulrich, Partner at Luminate. “Compliance & Risks has the most comprehensive and effective solution addressing this key problem.”
Luminate Managing Partner, Hollie Haynes said, “We are thrilled to partner with the entire Compliance & Risks team in their next phase of growth and believe they are well positioned to address a large global market opportunity.”
Focus Capital Partners provided M&A advisory services to the shareholders of Compliance & Risks and legal advice was provided by RDJ and Nixon Peabody.
McCann Fitzgerald and Kirkland & Ellis provided legal advice to Luminate.
Terms of the transaction were not disclosed.
UK Healthcare Scaleup Navenio Secures Government Funding for its Hospital Workforce AI Platform • Navenio backed by NHSX to boost patient flow in NHS hospitals and help teams get back to capacity • Investment will allow Navenio to help transform multiple NHS sites with its innovative AI and location-based solution enabling “right person, right place, right time” London/Oxford, UK. 22nd June 2021: Navenio, the UK company that has pioneered indoor location-based artificial intel... Read more
With patented polymer Sfere technology, Qualus is helping tanneries around the world reduce water consumption by up to 40% and chemicals by up to 15%
LONDON – Qualus, the leading provider of sustainable solutions to the leather industry, has secured £1 million of financing in a round led by Irrus Investments, an Ireland based angel syndicate. Co-investors in the round include CPI Enterprises and angels from Cambridge Capital Group and Harvard Business School Alumni Angels of London.
After years of optimising its solution through in-field trials at tanneries, Qualus now has multiple customers transitioning all production to its innovative system and a strong pipeline of potential customers in Asia, Europe, and Latin America that have successfully applied its system at a pilot scale. Leather produced with Qualus’ system is already in use by leading automotive, luxury goods, and footwear brands.
Proceeds from the latest round of investment will be used to:
“This investment brings the total financing secured in the last two years to £2.5m, enabling the company to execute its current contracts and to establish additional reference customers in key regions across the world,” said Vikrant Pratap, CEO of Qualus. “We are delighted that Irrus, CPI and the angel investors that have participated in this round can help accelerate the development of the business not only through the injection of funds but also through their extensive experience in building disruptive technology businesses.”
Emily Ryan of Irrus Investments added, “With its patented system, experienced management team, and demonstrated track record with customers, Qualus is a perfect fit with Irrus’ investment criteria. We are excited to be supporting a business that both has strong commercial potential and can achieve a positive environmental impact.”
Qualus’ fundraise was supported by Greenbackers Investment Capital, a specialist advisory firm that assists early stage cleantech ventures secure finance.
Tessian Raises $65M Series C to Advance Security at the Human Layer Lead investor March Capital has backed cybersecurity leaders CrowdStrike and KnowBe4; is joined by existing investors Sequoia, Accel. 25 May 2021 - SAN FRANCISCO. Human Layer Security company Tessian today announces that it has raised $65 million in Series C venture capital funding to accelerate its mission of quantifying and preventing human risk in global enterprises, and empowering people to do their best work without secu... Read more
Investment will fuel content marketing platform’s growth and further democratise access to great marketing software
London, 4 May 2021 – UK-founded marketing technology platform ContentCal has secured $6.2 million in Series A investment from Fuel Ventures and Guinness Asset Management.
The investment will be used to drive growth of its content marketing and intelligence platform: making new hires; developing a proprietary content intelligence platform; and opening a new US headquarters as well as expanding its UK headquarters.
ContentCal’s mission is to become the leading content marketing suite for SMEs around the world. It does this by, firstly, bringing high end features and functionality that usually only large enterprises can afford to smaller organisations, democratising access to great marketing software; and secondly, by building a human product that users love and providing them an off-the-shelf buying experience usually seen in consumer businesses. It currently has over 2,000 customers around the world, and has grown by 400% quarter on quarter from 2020 to 2021.
ContentCal will use the investment to hire over 40 people to join its team in the next year, doubling the current size of its workforce. It will also be opening new headquarters in Austin, Texas, as well as expanding its UK operations. The company expects to triple its revenues in the next 12 months.
The company is also developing a new product, ContentCal IQ, a proprietary content intelligence platform that will allow marketers to create smarter, better content faster.
“I’m delighted to secure follow-on funding from Fuel Ventures and new funding from Guinness Asset Management and to be working with them on the next phase of our journey,” commented Alex Packham, Founder & CEO of ContentCal. “We have seen unprecedented demand for our content marketing collaboration platform over the last 12 months. This investment puts the business in an incredible place to expand our team, invest further in product innovation and deliver on our mission to become the leading content marketing suite for SMEs globally.”
Shane Galleway, Head of Investment at Guinness Asset Management, added, “Guinness are delighted to be investors in ContentCal, and are excited to be supporting Alex and the team as they expand their footprint in the US and enhance data analytics with the development of ContentCal IQ.”
Mark Pearson, Founder of Fuel Ventures, commented, “ContentCal has gone from strength to strength since we first invested last year and we are excited to be backing the business again in their Series A. Content marketing continues to be a major driver of growth for companies across the world and ContentCal is in a strong position to become the major player in the market with this investment.”
ContentCal was launched in 2014 when Packham saw a gap in the market to significantly improve the social media content creation and publishing processes for businesses who didn’t have or couldn’t afford the expertise in-house, through software and automation.
ContentCal's products allow businesses to centralise and automate content ideation, creation, publishing and reporting across their social channels, blogs, internal communications and advertising platforms, while integrating with 1,500 other business applications, helping them to balance the requirement to publish more content than ever before with the need for quality content creation.
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Led by Haatch Ventures, the investment will support CareLineLive’s international expansion and grow headcount
London, UK; 19th April 2021: CareLineLive, the homecare management software that increases efficiency, capacity, compliance and communication between managers and carers by digitising their workflows, today announced that it has fundraised £1.2 million to support its national and international expansion.
The investment, led by Haatch Ventures, will see CareLineLive’s headcount continue to grow, with a 30% headcount increase already seen since September 2020. Alongside this, the investment will accelerate CareLineLive’s expansion into international markets, with 10% of its customers currently outside the UK, including recent client wins in Australia, Malta and Zimbabwe.
Josh Hough, Founder and MD, CareLineLive, commented: “Homecare is in need of modernisation globally and technology is helping to revolutionise the way it is provided for agencies, carers and their clients. Recent research by Age UK reveals that the number of over 75s is set to double in the UK and 30% of elderly patients needing care will not get a bed in a care home. Carers are the backbone of homecare and the pandemic has shown how integral they are to keeping families and clients connected. I’m excited about the innovation coming to the homecare sector and proud to be a part of it, in the UK and internationally.”
The growth capital also enables CareLineLive to continue to innovate its platform. New capabilities include more care planning feature sets that will make it easier for agencies to manage their clients' assessments, reviews, incident logs and daily observations. This is alongside the continued development of CareLineLive’s family portal.
Simon Penson, Haatch Ventures Partner, commented: “CareLineLive is at an exciting stage of its growth and has a compelling offering and vision when it comes to improving homecare. Homecare for the elderly and vulnerable is something that will touch all of our lives, and with COVID-19 playing a huge part in increasing demand on the market, there has never been a more important time for this technology to improve care. It’s a really important mission and the CareLineLive team is just getting started in terms of its potential.”
Customers of CareLineLive’s cloud-based home care management system have seen improved cash flow and increased revenues by up to 50%. Thousands of carers benefit from CareLineLive every day across agencies, this includes Home Care Nurses Australia, Clannad Care in Ireland, and Coastal Homecare in the UK.
Continued momentum in 2020 including record bookings, new customers and revenue growth garners attention of new investors
London, UK. – 6th April, 2021 - ThreatQuotient™, a leading security operations platform innovator, today announced it has closed $22.5 million in new financing, including a combination of equity and debt financing. The investment syndicate includes New Enterprise Associates (NEA), Adams Street Partners, Escalate Capital, Blu Ventures, Cisco Investments and Gaingels, who took notice of the company’s significant momentum in 2020, specifically their record bookings and revenue growth. ThreatQuotient plans to leverage this financing to accelerate execution of new innovations currently in development.
“As a result of strong performance in 2020, we welcomed an opportunity to secure additional funding and add new investors to our syndicate. ThreatQuotient is meeting a critical need for security operations solutions, and we have significant expansion plans to continue this momentum,” said John Czupak, President and CEO, ThreatQuotient. “I am incredibly proud of our team’s efforts and record setting performance in a challenging 2020. I thank all of our investors for their interest and support, and I look forward to our continued momentum and success.”
Notable ThreatQuotient achievements in 2020:
ThreatQuotient has been recognised for product excellence and industry leadership by several award programs in 2021. The company won four 2021 Globee Cybersecurity Excellence Awards, including: Gold for Security Investigation, Silver for both Threat Intelligence Technology and Hot Security Company of the Year, and Bronze for Threat Hunting, Detection, Intelligence and Response. ThreatQuotient also won three 2021 Cybersecurity Excellence Awards: Gold for Security Investigation, and Silver for both Threat Detection, Intelligence and Response and Best Cybersecurity Company. Additionally, ThreatQuotient was recognised as McAfee Partner of the Year for the second consecutive year and the company was listed in the 2021 CRN Partner Program Guide.
“ThreatQuotient gives SOC analysts, incident responders and threat analysts unmatched flexibility, visibility and control over their company’s alerts and unique threats that they can’t get from other security operations solutions. NEA is confident that ThreatQuotient’s continued momentum will lead to further market capture.” - Peter Barris, Managing General Partner, NEA
“Since we first invested in ThreatQuotient in 2017, their team has continued to prove to the market that there is a critical need for cybersecurity solutions aimed at security operations. Their attention to detail for customer needs and innovative approach to solving challenges are just a few reasons we are pleased to expand our investment in ThreatQuotient.” - Fred Wang, Partner, Adams Street Partners
“Escalate has been impressed with ThreatQuotient’s approach to solving major challenges within the cybersecurity industry, as well as the company’s growth to date. We are pleased to join this investment syndicate as an investor in ThreatQuotient, and look forward to their continued innovation which will support security operations teams in prioritising, improving detection and accelerating response.” - Chris Julich, Managing Director, Escalate Capital Partners
“As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQ+, Gaingels is proud to participate in this financing. We are resolved on helping ThreatQuotient grow and scale while strengthening its prospects of success by building a culture that reflects the diversity of its executive teams, staff and customers.” - Lorenzo Thione, Managing Director, Gaingels
Leading global companies use ThreatQuotient’s solutions as the cornerstone of their security operations, including Fortune 100/500, major retail and hospitality, healthcare, technology, finance, and defense customers globally. To learn more about ThreatQuotient’s award-winning solutions and market leading capabilities, please visit www.threatquotient.com.
6 April 2021 - Cyclr Systems Limited (‘Cyclr’ and ‘the company’) is pleased to announce that today it has secured over £2million in new investment led by Blackfinch Ventures (‘Blackfinch’) and supported by existing investors Juno Capital (‘Juno’).
Despite the global disruption during 2020, and early 2021, Cyclr has progressively grown its team from 12 to 23 people with year on year revenue growth of over 150%.
This new investment will enable Cyclr to accelerate recruitment even further as it continues to develop its client base and innovate in the area of Embedded iPaaS.
The market for ‘Embedded iPaaS’ is emerging and expected to be substantial. Embedded iPaaS is the provision of a software application, predominantly to other software companies, to enable the management and delivery of white-labelled, embedded integrations to clients at scale.
As SaaS adoption has continued to proliferate, compounded even further by the current social distancing requirements, interoperability of software applications has become a critical topic for software vendors. Cyclr’s software application is comprehensive and fundamentally saves their customers time and money, as well as making them more agile, in the delivery of embedded integrations.
“I am delighted to welcome Blackfinch as shareholders in Cyclr,” said Fraser Davidson, CEO. “The Blackfinch team have quickly grasped the importance of SaaS interoperability and share our excitement at accelerating the development of the company as our market continues to grow in front of us. We have carefully built the company to its current size and now feels like the right time to double down. With a combination of Blackfinch and Juno as investors, underpinned by our ever supportive Angel investors, we have the firepower to lift Cyclr to even greater heights during 2021.
“I am proud of what my team has achieved in a challenging year. The investment by Blackfinch is testament to their hard work and application.”
“Cyclr efficiently allows SaaS platforms to connect to third party software, eliminating the cost and time to develop this functionality from scratch,” added said Reuben Willcock, Head of Ventures at Blackfinch. “The company has grown at an impressive rate, even during the pandemic, and we are excited to be supporting them on their journey through this investment.”
Cyclr has customers across the world including markets such as the United States, Canada, Europe, Israel and Australia. Customers range in size from early-stage businesses through to large multinational enterprises.
Haystack, a Newcastle-based tech startup, today has announced that it has raised £1 million in seed funding. The funding enables Haystack to expand their territory reach and with advanced matching technology, help more companies and “techies” to hire smartly and find their ideal roles respectively. Mike Davies, Co-founder and COO said: “This is a really exciting time for Haystack. This funding will allow us to continue the incredible growth we’ve seen since we officially launched in November 2020”.
Founded in 2019, Haystack is a careers and insights marketplace focused on providing opportunities for those in data, design and engineering. The company’s algorithm matches roles with users based on a variety of touchpoints – to ensure employers aren’t provided with unsuitable candidates, and users aren’t shown unsuitable opportunities.
Haystack allows businesses to more efficiently hire for their tech teams by eliminating the need for, often expensive, tech recruiters and saving on resources internally.
The idea behind Haystack attracted entrepreneur Dan Smyth, former Managing Director of Bede Gaming, now lead investor. Since the beginning of lockdown, Haystack has trebled its headcount and plans to continue this trajectory into the next year.
Haystack is now attracting interest from across the UK and is working in partnership with industry-leading companies including Sage, Hive and Bottlepay.
“Hiring technical rockstars is incredibly tough and often they’re not active on the job market. Haystack allows them to anonymously search, uncover and gain insight to their tech landscape.” said Dan Smyth, lead investor. “Half the users are just curious and not looking for a job and these are the techies that traditional recruitment methods will never find. This the most attractive area for me as an investor, creating a platform to help passionate techies find the most interesting work possible. It’s the foundation for any great software business.
“The founding team at Haystack is that hard-to-find mix of technical, digital and real-world expertise with a vision to disrupt a large industry, where the technologist is the star of the show.”
“Investing was a simple decision. It’s highly scalable, highly relevant and solves real-world problems for all users. Working together so far has been invigorating over lockdown, combining my passions for tech and scale-ups. They work out of my Gosforth office, along with Xbim and Aspect two businesses I’ve invested in recently.”
Part of the investment comes from the Government’s “Future Fund” scheme. The Future Fund was launched to support pre-revenue, pre-profit innovative businesses with loans of between £125,000 and £5m, following concerns that investors were reluctant to provide support due to the pandemic. The latest figures from the Government show that the North East received £25m in funding.
Co-founder and CEO, Chris Bone said: “We’ve been delighted with the success we’ve had so far. What has been absolutely clear from speaking to the tech community is the real appetite for a different and disruptive approach to tech talent attraction.
“To have already secured 30 partnerships, including Sage, Hive and Bottlepay, gives me great confidence that our product scales across the U.K. and beyond.”
- London tech company to invest in expanding next generation ‘AI-powered traffic lights’ globally
- Company plans to double headcount and expand into Northern Europe and Australian markets
- Vivacity Labs’ technology transforms cities into smarter and more efficient places to work and live
London, UK; 22 February, 2021: Vivacity Labs, the London-based tech company which uses artificial intelligence to improve traffic insights and safety, today announced it has secured £5m of Series A funding in a VC round led by investor Mobeus, with additional funding from existing investors Downing Ventures and London Co-Investment Fund.
Vivacity Labs works with government, regional bodies and local councils to re-think and optimise the way traffic and transport infrastructure is built and used. The technology provides anonymous, highly accurate data to deliver real-time insight into road networks, infrastructure and the way in which we all use our cities.
The investment will support Vivacity Labs’ expansion of its AI-based traffic signal system, which reduces congestion and allows cities to prioritise sustainable modes of transport, such as cyclists and buses. The system will enable cities and transport authorities to efficiently adapt to different policy priorities, including reducing queuing, reducing emissions, and improving air quality. Transport for Greater Manchester is already a key partner and is scaling up installation to an area of 20 junctions this year, and the Greater Cambridge Partnership in conjunction with Cambridgeshire County Council have also chosen to pilot this intelligent technology to help ease congestion and prioritise greener and active travel.
As part of its expansion plans, Vivacity Labs has recently appointed Rob Stait as UK Sales Director, previously of AppyWay, and with 20 years' experience in growing technology businesses. The company is also planning to double its headcount and is recruiting for roles across the company, including in R&D/software development, sales and marketing, and operations. Its manufacturing centre will remain in the UK, in Bletchley, Milton Keynes.
The company is seeing demand from international markets for smarter transport insights, as countries support initiatives in active travel and improved road safety. This year it will expand to support customers in countries including the Nordics, Benelux, and Australia.
“These are incredibly exciting times for Vivacity Labs, and the investment will support our objective to enhance and optimise traffic systems everywhere,” said Mark Nicholson, CEO of Vivacity Labs. “This has been a challenging year for transport and commuters, but it’s great to see positive initiatives such as active travel now being prioritised. I’m proud of our team who have developed some first-of-its kind technology which has untold potential.”
The Mobeus deal team comprised Greg Blin and Amaad Mahmood. Ed Wass, Portfolio Director, will be joining the Board. Greg said, “We’re incredibly excited to back this high-quality, passionate team who have created a market leading product”.
Cobin Corbally, Partner at Downing Ventures, commented, "We are delighted to continue our support for this dynamic young business, which is a global leader in traffic management solutions, using AI technology to make the world a safer place."
Vivacity Labs recently won the Innovative Use of Technology Award at the 2020 Intelligent Transport Systems, ITS (UK) Awards and has secured a three-year Innovate UK co-funded programme (alongside Immense Simulations) to use AI to optimise traffic networks. Vivacity Labs has developed an algorithm that is able to adapt quickly to changing traffic conditions and efficiently implement high-level strategies at both local and city-wide scales.
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Computing industry visionary Bill Veghte named IGEL Executive Chairman to lead IGEL’s continued global expansion and capitalize on the exploding need for secure end-user computing
SAN FRANCISCO, February 15, 2021 – IGEL, provider of the next-gen edge OS for cloud workspaces, today announced that TA Associates (“TA”), a leading global growth private equity firm, has signed a definitive agreement to make a majority investment in the company.
TA joins existing IGEL investor C. Melchers GmbH & Co. KG (“Melchers”), which has been IGEL’s primary investor since its founding in 2001 and will maintain a significant equity interest in the company. After handing over the position of IGEL CEO to Jed Ayres last year, founder and former CEO of IGEL Heiko Gloge also remains as a minority stake holder and board member. Financial terms of the transaction were not disclosed.
IGEL also announced that Bill Veghte will join the IGEL Board as Executive Chairman. Veghte has decades of experience developing operating systems and bringing industry-leading technologies to market as a senior leader at Microsoft and HP, as a board member for a wide variety of companies including Xero, and as the founder of Athene Partners.
"With his network and his extensive knowledge of the industry, Bill will contribute to expanding and deepening the strong relationships that IGEL has built with technology partners," said Gloge.
“IGEL is the market-leading edge operating system, delivering simplicity with manageability, security, and the flexibility that delivers a richness of experience at a time when customers need these capabilities more than ever before,” said Veghte. “I am pleased to be joining the IGEL Board at such a transformational time for the company and the industry, and to be supporting Jed and the team in accelerating IGEL’s growth.”
In addition to the naming of Veghte as IGEL Executive Chairman, Jonathan Meeks, Managing Director, TA Associates, and Stefan Dandl, Principal, TA Associates, will be added to the IGEL board. They will join existing IGEL board members Heiko Gloge, Managing Partner, and Nicolas Helms, Melchers Managing Partner. Together with Ayres and the leadership team, they plan to accelerate the company’s growth globally through increased operational and development bandwidth and significant go-to-market investments, including the further activation of channel partners, to ensure the wide-spread adoption of IGEL OS across increasingly remote and distributed end-user device estates.
IGEL has been on an expansive trajectory with triple-digit growth over the past five years in billings, margin and units. For the year ended December 31, 2020, IGEL increased revenues from recurring software products and services by over 150% year-over-year worldwide, supported by IGEL’s growing channel partner ecosystem. Today, IGEL OS is operating on more than 4 million edge devices and counting.
“The world’s digital workers have gone remote and we believe this new paradigm is here to stay. IGEL is at the center of this EUC revolution with solutions that meet the need for secure, simple to manage and cost-effective cloud workspaces,” said Ayres. “With new backing by TA and the experience of Bill to guide us, we believe that we have the resource depth needed to not only capitalize on this exploding global market need but also innovate quickly to remain strategically positioned for the future of edge computing.”
With the widespread shift to remote work and hybrid work scenarios, the EUC market is in transition, with increasing investments in virtual desktop infrastructure (VDI) and cloud workspaces. IGEL is a key enabler of this movement, providing the next-gen OS for cloud workspaces that reduces hardware costs and operating expenses with a more secure endpoint management and control platform for nearly any x86 device.
“We believe IGEL is setting the benchmark for the new era of computing on the endpoint, and is primed to drive rapid and sustainable organic growth,” said Meeks. “With strong market leadership and a solid history of innovation and execution, IGEL is uniquely positioned to fulfill the ubiquitous need for secure, manageable cloud workspaces to support remote workers from anywhere. TA is pleased to be partnering with IGEL on this journey.”
“IGEL was founded based on a vision to help customers realize the benefits of a more secure, manageable and productive edge device infrastructure,” said Gloge. “Today, we are delivering on this vision with both passion and prowess.”
“After supporting IGEL since its founding in 2001 as principal investor, we are excited by the opportunities presented with TA´s investment in IGEL,” Helms stated. “We expect that the partnership with TA will provide IGEL with the experience, market access and resources to help propel IGEL through the next phase of growth.”
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- Funds advised by Hilltop Credit Partners Limited (“Hilltop”) have provided a development finance facility of GBP15 million to Propiteer Group
- The funds will be used to refinance existing commitments and to develop 100 residential units in the Fletton Quay regeneration project alongside the River Nene in Peterborough
- Recognised as one of East Anglia’s main commercial centres, Peterborough is set to benefit from government’s “growth corridor scheme” to build closer links with nearby Cambridge
- Backed by global real estate investment firm Round Hill Capital, Hilltop has facilitated construction of 276 residential units across England to date
London, 8 February 2021: Funds advised by Hilltop Credit Partners, a specialist funding partner for SME residential developers, have completed a £15 million loan to the Propiteer Group for a development project within the Fletton Quay area of Peterborough, Cambridgeshire.
The project will deliver 100 private 1-bed and 2-bed flats, including associated underground parking and cycle storage, on a brownfield site close to the River Nene and within walking distance of Peterborough Station and a number of retail centres. The £120m Fletton Quay regeneration area is being developed by the Peterborough Investment Partnership to create a vibrant multi-use development close to the city centre.
According to Savills, Peterborough has seen a robust price growth resulting in strong rates of sale for new homes, primarily driven by the relative affordability of Peterborough compared to neighbouring cities and its good commuting links. One of the first 7 municipalities to receive funding from the Government’s Towns Fund, Peterborough City Council has ambitious plans to enhance the growth of 8 regeneration sites around the city by securing £600m of funding for additional projects focussed on connectivity, enterprise and skills infrastructure, tourism and sustainability.
Commenting on the partnership, Dave Marshall, CEO of Propiteer Group, said:
“Propiteer has already been involved with bringing the Hilton Hotels brand to Peterborough. We’ve seen the potential for the city and are excited to be part of the Fletton Quays project. Hilltop came with strong credentials and we’re looking forward to partnering with them.”
Jacob Andersen, Head of Transactions at Hilltop Credit Partners, added:
“This project sits well with Hilltop’s appraisal of market conditions at the moment – regional towns are presenting amongst the most compelling cases for investment. It’s our first commitment in East Anglia and given the pedigree and local experience of Propiteer I have no doubt of its success.”
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Enhancing 4G and 5G Mobile Core Solution Development and Expanding Market Reach
Cambridge, UK, 3rd February 2021 – AttoCore, the developer of scalable and flexible 4G and 5G core network solutions is pleased to announce a strategic investment from Lansdowne Investment Company Cyprus Ltd (“LICC”).
The injection of capital from LICC will allow AttoCore to increase its head count and accelerate the development of its Atto5GC 5G Standalone Core and AttoEPC 4G Evolved Packet Core, whilst further enhancing its ability to address key markets, including non-public (private) networks in Europe and the USA.
LICC is an investment vehicle managed by Lansdowne Partners Austria GmbH (“LPA”), which is an Austrian Alternative Investment Fund Manager with a strong focus on investing in and fostering European innovation. LPA is part of the Lansdowne Partners group of companies.
Commenting on the investment, David Neil, AttoCore CEO said: “The growing interest in non-public networks creates a significant opportunity for AttoCore’s scalable and flexible 4G and 5G core network solutions. We are very grateful to LICC for their support, enabling us to rapidly bring to market and further enhance Atto5GC. Atto5GC provides systems integrators with a 5G Standalone Core, suitable for enterprise use and differentiated from the large vendors by flexibility, scalability, performance and price.”
The support of LICC comes at a very exciting time for AttoCore. The global interest in 5G and the release by national regulators of spectrum suitable for the deployment of non-public networks, such as those enabled by the CBRS (Citizens Broadband Radio Service) programme in the USA, have created an excellent market opportunity for scalable, flexible, mobile core solutions. AttoCore has already supplied its product into non-public networks, a number of which will be the subject of further announcements in the coming weeks.
In addition to the support of LICC, AttoCore will also benefit from a close partnership with ng-voice GmbH, the supplier of fully containerized (Kubernetes), cloud native 3GPP (3rd Generation Partnership Project) compliant, IP-Multimedia Subsystem (“IMS core”), with a minimized resource footprint. Based in Hamburg and Berlin, ng-voice is an ideal partner for AttoCore, sharing the same commitment to performance and quality. AttoCore is pleased to announce that Dr. David Bachmann, CEO of ng-voice, will join the AttoCore Board of Directors.
UK GigCX platform innovator Limitless continues global expansion and accelerates CX transformation with Genesys Cloud integration and new investment led by Redline Capital
February 2, 2021: London, UK - Limitless, the AI-driven gig customer experience platform, today announced it has raised $10 million in financing. The Series B investment is led by Redline Capital and features new investment from Genesys, as well as continued participation from AlbionVC and Unilever Ventures.
The financing round will see London-based Limitless continue its dedicated growth in the US market, establishing a new US-based headquarters to focus on its product development, particularly surrounding routing, automation and AI to augment the strengths of humans.
In addition to its latest funding achievements, Limitless also recently entered into a new technology partnership with Genesys, which was announced today by the global leader in cloud customer and contact centre solutions. The two have partnered to combine the comprehensive contact centre capabilities of Genesys Cloud with the Limitless GigCX platform, making it possible for passionate product and technical experts to provide gig customer support, or ‘GigCX’ for the brands they love.
The combined solution enables businesses to easily scale resources during busy periods and deliver faster response times 24/7 - a need which has been felt more acutely throughout the pandemic. Brand experts, ranging from Microsoft Windows specialists, to stylists who love L’Oréal products, to experienced eBay store owners, act as gig customer service experts on the Limitless GigCX platform. These product experts are providing an on-demand extension of the customer service workforce for brands, providing them with agile, personalised customer service based on a flexible task-based model.
The Limitless and Genesys Cloud integration is designed to increase AI adoption by leveraging the knowledge and expertise of gig experts to train AI algorithms, at no incremental cost. By suggesting answers to experts on the Limitless GigCX platform, the effectiveness of both virtual agents and agent/expert assist model is continually strengthened with increasing accuracy and speed, resulting in improved customer experiences.
The Series B funding follows on from a nearly $7 million Series A round in 2019. Since its launch by co-founders Roger Beadle and Megan Neale in 2016, Limitless has welcomed a growing list of global customers, including Microsoft, eBay, Unilever and L’Oréal. The Limitless GigCX platform has helped these brands to significantly improve customer experience and dramatically reduce cost of service, whilst handling increasingly complex queries that require a human touch. By helping customers to get the most value from their products and services, expert product users help the brands to increase product usage, repeat purchase and customer loyalty.
GigCX aligns with trends identified by the analyst research community, including the recent Gartner Hype Cycle for Business Process Services 2020, where Principal Analyst Jaideep Thyagarajan revealed that gig has now passed the ‘hype’ stage and is being actively used and scaled. Other recent Gartner research predicts that by 2023, the gig model will account for 35% of the total customer service workforce.
“The Genesys investment and partnership marks a significant achievement for Limitless as we continue to expand globally,” said Roger Beadle, CEO, Limitless. “As consumers turn increasingly to digital support channels and products become more complex, businesses need access to more diverse and agile talent pools. By integrating Genesys Cloud and the LimitlessGigCX platform, we offer businesses the opportunity to seamlessly blend call centre agents with their own passionate and knowledgeable gig experts to provide empathetic support, at scale.”
Olivier Jouve, executive vice president and general manager, Genesys Cloud, said: “Today, businesses need digital solutions that enable them to meet customers wherever they are in their journeys while providing a memorable, differentiated experience. By partnering with Limitless, we’re giving businesses a new way to optimise their contact centre resources while expanding the reach of the overall service experience for their customers.”
For Megan Neale, COO, Limitless, the new investment and partnership with Genesys marks a milestone in the future of work, especially during turbulent times: “COVID-19 has seen many businesses face massive disruption, but GigCX has been a saving grace in business continuity while also opening up new possibilities for flexible working. This new partnership is at the heart of empowering anyone, anywhere on the planet to provide customer service for brands they love, and that is something we are truly proud of.”
Oxford, UK and Pasadena, California, 29 January 2021 – Rockley Photonics, a leading integrated optics solutions provider, today announced that it has closed an additional $65m round of growth capital from both new private funds and follow-on existing investor Morningside Ventures. To date, Rockley has raised over $290m of financing to develop its unique silicon photonics platform from recent investors such as Credit Suisse backed SIG-I Capital and Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc.
“There is tremendous need for technologies that can enable effective digital health and wellness, driven by the associated benefit provided to population health,” said Andrew Rickman, chief executive officer, Rockley Photonics. “This funding provides the resources for Rockley to dramatically accelerate its product offerings, particularly our integrated optical sensors products. We are committed to our Tier-1 customers and our ability to help expand their product offerings and the innovative data-driven business models these products will enable.”
“We are very pleased to support Rockley at this juncture of the company’s development and contribute to the commercial success of their integrated optical chipsets and related products in multiple markets,” said Mick Sawka, Investment Manager at Morningside Group. “We believe that silicon photonics is at a tipping point, and the technical attributes of Rockley’s platform, coupled with the strong product roadmap and established high-volume production ecosystem, uniquely positions the company for growth in exciting verticals of interest including health care and communications. We have confidence in the deep expertise and proven track record of the Rockley team to deliver exceptional results.”
Rockley Photonics was recently named as an early constituent in the Lazard T100 Venture Growth Index (T100), a developing collection of carefully selected companies demonstrating the potential to disrupt multi-billion-dollar sectors and shaping the European venture growth ecosystem.
London: SalesTrip, an expense management and travel booking software company, today announces it has raised $1.4m in seed funding. Led by Floreat Group, an independent and privately held group, investment comes in the same year the company experienced over 250% growth.
“We actively seek technology companies and platforms that have strong products with flexible and attractive business models,” said Karim Jallad, Managing Director at Floreat Principal Investing. “The COVID-19 crisis has presented unique and severe challenges to the travel and expense management technology sector, with much of business travel grounded. SalesTrip has proven the flexibility, adaptability and strength of its SaaS platform and has thrived despite the global pandemic. For this and many reasons, we are pleased to invest in and partner with SalesTrip.”
The London-based start-up, which launched in 2019, has now raised more than $3m including from founder, Manoj Ganapathy, ex-founder of billing software company InvoiceIT, which was sold to Steelbrick and subsequently Salesforce. As company expenditure comes under increased scrutiny due to the pandemic, the company is helping a variety of businesses across the UK, Europe and US to better understand travel and expense costs in the wider context of business growth.
Key to this growth is SalesTrip’s strategic relationship with Salesforce who, at their 2019 Dreamforce event, recognised the company as one of its most innovative partners across its ecosystem of 5000. The product is built natively on Salesforce’s leading cloud enterprise platform enabling expenses and business travel to be managed against specific commercial activities such as sales meetings, customer projects and marketing campaigns.
VRP Consulting, a Salesforce Platinum Consulting company and recent customer, is using SalesTrip to automate employee expenses, using real-time data insights to understand spend against client projects and overall profitability. “Whether providing consulting, outsourcing, development services or managed services, it’s critical to understand both the costs to acquire new clients and service them,” said Will Lamb, Managing Director UKI for VRP.
Other customer wins in the last six months span multiple industries and countries with companies headquartered across six countries. This includes The Brilliant Club, a UK non-profit working with students from underrepresented groups; Vestiaire Collective, a French online marketplace selling pre-owned fashion items; and Embody, Inc, a medical device company needing to adhere to Sunshine Act compliance requirements.
“Almost all areas of a business today have the data-driven insights to inform decision-making, yet corporate travel still doesn’t, even though expenses are the biggest variable cost to a business,” said Manoj Ganapathy, CEO and Founder of SalesTrip.
“For too long, company leaders have been unable to determine whether large employee expense bills contribute to revenue whether through new customer acquisition, retaining existing ones or general productivity improvements. So, in spite of the halt in travel for much of the year, we’ve been fortunate to partner with some incredible companies looking to get ahead of the competition by better controlling what are notoriously unpredictable costs. And by doing so, secure the confidence and financial backing of external investors for SalesTrip.”
The company intends to use the funds to scale operations in the US, continue to build out product integrations and increase demand across key markets.
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15 December 2020 – London, UK - Crossword Cybersecurity Plc (AIM:CCS, “Crossword”, the “Company” or the “Group”), the technology commercialisation company focused on cyber security and risk management, is pleased to announce that it has won an Innovate UK grant for £157,612 to investigate the issues around effective Manufacturing Supply Chain risk management and possible solutions. Specifically we want to identify reasons why, according to GOEDIS 2017 Supply Chain Worldwide survey, only 6% of companies have achieved full supply-chain visibility. Crossword, its Academic Partner, and two well-known British Manufacturing businesses, will investigate the reasons why organisations are reluctant to share details of their supply chains with their customers, and propose solutions based around its Rizikon Assurance platform to these problems.
Organisations need to control all risks in their supply chains, including for example cyber security, business continuity and modern slavery. The shift to more dynamic supply chains driven by Just In Time Manufacturing, COVID-19, Brexit and changing Environmental Social and Governance requirements has intensified this need. The lack of full supply chain visibility is restricting organisations’ ability to identify and manage their supply chain risk. Crossword’s portion of the grant awarded by the Industrial Strategy Challenge Fund is £157,612. The Industrial Strategy Challenge aims to bring together the UK’s world leading research with business to meet the major industrial and societal challenges of our time. The fund was created to provide funding and support to UK businesses and is run by Innovate UK and the Research Councils on behalf of UK Research and Innovation.
Jake Holloway, Chief Product Officer at Crossword Cybersecurity PLC, said: “We believe that a radically new approach to supply chain risk management can improve the UK's economic performance significantly. This feasibility study will look at the root causes of why manufacturing businesses can't always have full supply chain visibility, often caused by commercial confidentiality and lack of standards in supply chain risk systems. We'll propose and prototype solutions - be they methods, standards or systems, with our Academic and Manufacturing partners, and then plan on incorporating the solutions into our Rizikon product family.”
Brussels, Belgium 17 November 2020 – Satellite service provider SatADSL has responded to customer demands for increased levels of security on their flagship platform by starting a new development activity co-funded by the European Space Agency (ESA) under the 4S (Space Systems for Safety and Security) Strategic Line of its Telecommunication (ARTES) programme.
Corporate and governmental organizations around the world are increasingly requiring higher levels of security when transmitting sensitive information, either through permanent or on-demand connections. ESA’s support will enable SatADSL to develop, test and validate security upgrades to its flagship cloud Platform-as-a-Service (PaaS) offer.
The project aims to upgrading SatADSL’s Cloud Service Delivery Platform infrastructure (C-SDP) by adding security, resilience and quality features. C-SDP is a PaaS solution which removes the need for operators to invest in physical infrastructure to deliver satellite-based connectivity and services.
“This development will further exploit the potential of our one-of-a-kind platform and open it up to new mission-critical applications and markets,” said Thierry Eltges, CEO at SatADSL. “By providing the level of resilience and security required in a context of growing cyber-threats and natural and human hazards, both institutional organizations and private operators will benefit from a secure network in instances such as connecting remote facilities and supporting operations.”
SatADSL value proposition is to offer its customers in the governmental, military and corporate sectors a flexible service offering, that is compatible with their demanding security and resilience requirements and independent of the underlying VSAT technology.
The activity will also support the positioning of SatADSL in the high-end satellite service business by increasing the resilience and quality levels of its service delivery platform, and the consolidation of SatADSL as an aggregator of high-end satellite services. It will also give a competitive advantage to teleports by offering them a unique secured and resilient PaaS service that they can use for improving their own service offering to their customers while at the same time monetizing their unused satellite capacity with new customers.
“Our vision is to become a leader in the application of the concepts of the new digital collaborative economy to the conservative, CAPEX intensive, world of satellite services, and become a facilitator by providing a PaaS to other operators willing to offer new services and to transact business with each other,” added Thierry. “SatADSL’s plan is to become a “marketplace” (not owning any satellite, teleport nor Hub infrastructure) promoting bandwidth coming from several competing sources and offering a complete portfolio of satellite services to its demanding customers.”
Elodie Viau, ESA Director of Telecommunications and Integrated Applications, said: “ESA is extremely pleased to enable continuous investment in the development of highly innovative solutions and services by European and Canadian manufacturers and operators. ESA is committed to develop initiatives in support of the European commercial satellite telecommunications industry and generate pioneering technology in this domain for the benefit of Europe’s worldwide competitiveness. This contract with SatADSL represents a new step of a long standing effort in that endeavour.”