KnowledgeMill secures co-investment
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In its sixth deal of 2012, YFM Equity Partners has backed KnowledgeMill and brought in a new executive chairman for the business.
YFM Equity Partners has teamed up with MMC Ventures to invest in cloud-based email management business KnowledgeMill.
The £1.5 million growth capital funding into the London-headquartered company will be used to expand its team and invest in marketing of its products.
KnowledgeMill, which was founded in 2009 by Hisham Anis, James Allchin and Marcus Lambert, provides software products which allow for automated filing of emails, relating to specific work streams and projects.
As part of the deal, Peter Norman, former board director at Sophos, will join the board as executive chairman.
YFM Equity Partners has made its investment through its managed fund Seraphim Capital. Mark Boggett, investment director at YFM and managing director of Seraphim, says that KnowledgeMill’s ‘disruptively’ priced product offers the potential to democratise email management.
He adds, ‘We have introduced Peter Norman as executive chairman who brings a wealth of experience in growing software businesses.’
The deal for YFM follows on from a busy start to year which has seen the fund back a number of businesses through a series of management buy-outs and buy-ins (MBOs and MBIs) and early stage growth capital investments.
Jon Coker, investment director at MMC Ventures, comments, ‘KnowledgeMill has developed an innovative solution that is disruptive both in function and price.
‘We have been impressed by the team and their early success with large customers and partners and we are excited about working with them to help raise the large opportunity they have.’