Mobile and web engagement company Ymogen has received funding from a group of private investors. The former Vodafone UK CTO, Chris Burke and Brian Coultas, an experienced private investor, both become non-executive directors of the company.
The funding will be used to build on Ymogen's growth and success to date, which includes doubling head-count and quadrupling turnover between 2005 and 2006. With a strong new business pipeline for the next 12 months, Ymogen says 2007 turnover is set to continue the companys growth.
Ymogen will allocate the cash injection to develop new features and enhance the technical infrastructure of its proprietary mobile and web community content management system (CMS), which is already being used by a number of brands including Mercedes-Benz, The Guardian and Save the Children, and agencies such as BJK&E.
As part of the mobile and web community CMS development, an exploratory research project is being conducted with BBC Innovation Labs and Nokia, using location-based story-telling and its implications for citizen journalism.
"Ymogen is an interesting company with some exciting technical thinking in the mobile, web and community-building space says Burke. It is a pioneer with its mobile and web community CMS. I strongly believe that Ymogen is in the right space to take further advantage of the market opportunities presented by the change in advertising strategies of big brands, based on the changing media consumption patterns of consumers."
Ymogen Founder and CEO Mark Hardwick adds:
We are delighted to not only have the financial backing, but also the hands-on expertise, of professionals such as Brian Coultas and Chris Burke on our board of directors. The timing for the funding is perfect as it allows us to continue growing, in line with the increasing demand for our services, enabling engagement marketing to brands"