Capablue uses angel network to close funding round
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Business angel network Envestors has closed an equity fundraising for Capablue.
Advertising entrepreneur Charlie Makin has joined Capablue as a director after contributing to a funding round for the business.
The undisclosed deal sees a group of private investors, family offices and venture capital sources back Capablue, a business which provides integration services for broadcasters and brands.
The London-based tech firm aids clients such as BBC, ITV and Channel Four across projects including iPlayer and Channel 4's VOD to connect consumers with content.
Makin brings his experience to the business and says the market or consumption of content and services has changed with the emergence of internet connected devices.
He will now play a 'hand-on' role in pushing Capablue to the next level of its growth, with its funding being used for business development and expansion.
Capablue has secured a number of new contracts in 2012 including those with UKTV, Chello Zone and Curzon on Demand.
GrowthBusiness columnist Bob Taylor, founder director of Envestors, comments, 'I'm not surprised we attracted a lot of investor interest in this business given the rapid change taking place in this sector as well as the strength of the management team.'
Tom Cape, CEO of Capablue, adds that Makin's involvement, when combined with the business' first round investment, shows the market's confidence in the company.
'[It] will enable us to help content owners, brands and agencies exploit the value of their content by creating new and interesting commercial solutions for the connected ecosystem,' he says.
The Capablue transaction represents the second deal that Envestors' London office has closed in the past month. At the end of August it took part in a deal which saw mobile commerce company MoBank net £2.25 million.