Big angel round for blur Group
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Investors from ASDA and M&S are providing backing to UK technology business blur Group in one of the biggest ever European angel rounds.
London-headquartered blur Group has closed a $2 million (£1.25 million) angel funding round attracting interest from high net worth investors including Archie Norman and Kevin Lomax.
Norman, currently chairman at ITV and former CEO of Asda, and Lomax, founder and former chairman of Misys and current director at M&S, join other investors including Tim Schoonmaker in backing the marketing procurement business.
Its business model works by providing a platform where those offering creative skills can supply services direct to those commissioning them.
According to blur Group, the London and Dallas-based company has attracted 14,000 creative professionals and agencies from 135 countries to its Creative Services Exchange.
Philip Letts, blur Group founder and CEO, comments, 'In just the same way we have driven innovation in creative services, we wanted our fund raising to be the most ground-breaking model for a high-growth, networked business. 'These angel investors have unquestioned levels of business expertise, leadership and success in building world-beating operations. Their profile and the depth of their involvement confirm the very exciting proposition that is blur Group and its Exchange.'