Release Date: 2007-01-11
Original Link: http://presszoom.com/story_122542.html
Source: Oxford Innovation
Secure instant messaging service provider, Presence Networks, has attracted £250,000 of investment from The Capital Fund, a £50 million venture capital fund that invests in fast growth companies in Greater London. One of a series of significant investments in Presence Networks, The Capital Fund’s backing will help take the company’s innovative and unique products to market, and develop sales and marketing capabilities.
(PressZoom.com) - Secure instant messaging service provider, Presence Networks, has attracted £250,000 of investment from The Capital Fund, a £50 million venture capital fund that invests in fast growth companies in Greater London. One of a series of significant investments in Presence Networks, The Capital Fund’s backing will help take the company’s innovative and unique products to market, and develop sales and marketing capabilities.
Instant messaging allows users to send and receive real time messages and texts to other users online. It is extremely useful for businesses for dealing with employees, clients or suppliers in the office or remotely – with significant productivity and cash savings to be made by taking advantage of such instant online communications.
Research firm, Gartner, estimates that there are 42 million users of secure instant messaging worldwide which should rise to 63m users by 2008, as corporations adopt voice over IP solutions. However, currently, the vast majority of messaging is sent using insecure services. With the ever increasing danger of sending corporate information across insecure networks, there is a huge market for secure electronic communication systems that protect company data and prevent attack from computer viruses.
With over six years of development and investment, directed by Presence Networks CEO Symon Blomfield, the company’s software platforms provide industry leading levels of security, authentication and control for corporate instant messaging systems.
The key to instant messaging’s success is the ability to let anyone logged into the network know when other users are likewise at their desks and available – something that email, for example, cannot provide. When this functionality is combined with secure voice services over the network, allowing phone calls online rather than using traditional mobiles or landlines, Presence Networks can provide a complete communications package.
Symon Blomfield commented: “Our services can be used by anyone, from a single home-based consultant to major international corporations. Instant messaging and online voice and data facilities have benefits for everyone, but we provide peace of mind and security.”
And, as big firms and consultancies increasingly have to take account of the carbon footprint of business travel and employee commuting, the ability to extend secure networks to home and remote workers will become increasingly attractive.
Mr Blomfield said: “Because our systems have a ‘presence’ facility, users can keep track of the online status of users anywhere, whether it’s at the next desk, at home or on site.”
Presence Networks’ products are marketed via a network of resellers, and the company can provide its services in a variety of ways depending on the eventual end user. Whether the resellers want to provide their clients with Presence Networks’ own managed service, or a white label system hosted by Presence Networks but managed by the reseller under their own brand, or even a fully-deployed separate stand alone system, Presence Networks is ready to provide the right customised solutions.
Coinciding with The Capital Fund’s investment, two new non-executive directors – John Pocock and Philip Jolowicz are joining the Presence Networks Board.
Mr Blomfield said: “I am delighted that John will be our new company Chairman. He brings a huge amount of experience in the IT industry, not least from his time as CEO of Druid plc. Also, Philip’s City and legal experience, which includes positions such as corporate broker for Banque Paribas and General Counsel for Merill Lynch’s European institutional activities, will be invaluable as the company develops.”
Stuart Nicol, Investment Manager at The Capital Fund, said: “We are delighted to be able to invest at such an exciting time for Presence Networks. Their products are well placed to take advantage of the huge, and growing, online instant communications market. I wish Symon and his team every success and look forward to working with them to realise the company’s potential.”
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EDITORS NOTES
Press enquiries to Margaret Henry, PR Manager, The Capital Fund.
Tel: +44 (0) 1865 811199 Email: m.henry@oxin.co.uk
1. ABOUT THE CAPITAL FUND
Launched in 2002, The Capital Fund is a £50 million venture capital fund which backs fast-growing, small and medium-sized enterprises in Greater London. To date, the Fund has made over 45 investments in London-based companies and was named Regional Venture Capital Fund of the Year at the Investor Allstars Awards 2005.
Initial investments can be up to £250,000 and the Fund can invest a further £250,000 after six months or more. In some circumstances, alongside other new investors, the Fund can follow on its investments with up to £5m in total in a single company. The Capital Fund is the largest of the nine Regional Venture Capital Funds and has a mixture of public and private sector investors. For further information: www.thecapitalfund.co.uk
The Capital Fund is managed by YFM Venture Finance Limited, which is authorised and regulated by the Financial Services Authority and part of the YFM Group. The YFM Group provides investment capital and business development services to SMEs throughout the UK. It currently has £250m in funds and consultancy contracts under management, with over 70 employees. For further information: www.yfmgroup.co.uk
2. ABOUT PRESENCE NETWORKS
Presence Networks develops secure software for instant messaging. The company’s products have benefited from several years of research and development investment and are now being taken to market.
With offices in the UK and Ukraine, Presence Network’s unique selling point is the sophistication of the security, authentication and control that its products provide for instant communications.
There are many potential cost savings and productivity gains to be made using instant messaging systems. And for companies looking to decrease carbon footprints, through home or remote working, for example, secure instant messaging can be highly attractive.
For further information: www.presence-networks.net