1 million British pounds equals 1.6 million U.S. dollars, 1.2 million euros and 21.25 million pesos. Lesson in exchange rates aside it’s obviously a hefty amount of money, making Vamosa’s (news, site) recent negotiation through Glasgow-based Maven Capital Partners no small accomplishment.
The money pot is called the Capital for Enterprise fund, and Vamosa is one of the first two companies to be assisted by it.
Capital for Enterprise
The CfE Fund is a government initiative designed to help small and medium size enterprises in the UK bridge the funding gap caused by the credit crisis. The investment in Vamosa is one of the first investments to be made by the fund, and will reportedly help the company continue its expansion.
With an established customer base in mainland European markets including Switzerland, Belgium, Luxembourg and Germany, as well as in Australia and the UK, Vamosa, plans to focus more energy on razzle-dazzling the North American enterprise content governance (ECoG) sector.
“It is our vision for a Scottish business to ensure multi-national organisations and governments receive the highest return on investment from their content assets," said George Knox, chief executive officer at Vamosa. "Receiving this capital injection from Maven is a proof-point to the opportunities available to Vamosa.”
The Need for ECoG
The importance of regulatory standards has been on the forefront for some time now. This is because while enterprise content tends to be driven by quality and governance principles, many organizations still end up with content that is not accessible. Vamosa's recent Check & Fix feature addresses this problem by monitoring web content and automatically fixing errors.
Though any time is a good time for money, this money came at a good time. Said Knox candidly, “To be perfectly honest, without this fund we could not have raised the stuff we wanted from the banks. The banks are just dried up. We would not be able to continue on with our strategy without this.”
Surprisingly, the deal only took a little over 10 weeks: “It has been quite refreshing to have something move so quickly," continued Knox. "It is a tough market out there."
As always, the newly monied status prompts certain expectations, so keep up with us as we keep up with Vamosa and let's see exactly how well they do with their 1 million babies.