Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


GroupSpaces raises $1.3 million from Oxford investors and Silicon Valley heavyweights
First investment by new Index Seed Fund


GroupSpaces, the go-to site for simple online management and administration of real-world groups founded by Oxford University students, today announced it has secured a $1.3 million investment round from Index Ventures and a leading angel investor consortium including Dave McClure, Chris Sacca, Simon Levene, Meagan Marks, Ariel Poler and Quincy Smith of CODE Advisors. Index Ventures partner, Mike Volpi, will take a board seat.

GroupSpaces was founded by David Langer and Andy Young while they were Oxford University students and secured its initial funding in 2008 through Oxford Early Investments (OEI), a leading business angel network that helps innovative early stage companies to raise funding. Existing investors and members of the OEI Network, Stephen Bullock and Simon and Michael Blakey of Avonmore Developments, also participated in this round.

Since then, GroupSpaces has followed a Facebook-like expansion model and all the student clubs within Oxford University and the Said Business School, Oxford, are now users. The site has also been adopted by most large clubs across the UK’s other top universities and is currently used to manage over 500,000 group memberships.

GroupSpaces provides an all-in-one set of tools designed to meet the needs of groups such as sports clubs, hobby groups, associations and student societies. This integrated offering makes administration of groups more effective, improves member communications and saves group organisers and officers lots of time compared to the common patterns of having a Yahoo! Group for mailing list, member records in Excel and collecting payments through various offline means.

GroupSpaces differentiates itself by only requiring group leaders to sign up, making it fast to adopt and get started for secretaries, treasurers and other officers of existing real-world groups. Group members can be imported from Excel and then receive emails, register for events and pay their membership dues, all without having to create a user account and password.

GroupSpaces is free for groups with less than 250 members and for student groups of any size. Above 250 members, pricing starts at £5 per month. The company generates revenue via a combination of premium accounts, targeted advertising and transaction commissions for payments made through the site.

GroupSpaces founder, David Langer, said “We’re delighted we were able to attract such high profile investors to this funding round and we look forward to leveraging their expertise in helping us to move forward with our growth strategy and expansion into new geographies, attracting top talent to our team and rapidly rolling out our product roadmap.”

Eileen Modral, investment manager at Oxford Early Investments, said: “We congratulate David and the rest of the GroupSpaces team on securing this major investment. We were pleased to assist the company to raise crucial funding in 2008 to progress the initial development of their innovative software. Since then, GroupSpaces has made phenomenal progress and is poised for further success.”

Mike Volpi, board member and partner at Index Ventures, said: “GroupSpaces is a terrific start to the Index Seed Fund. We are very impressed with this entrepreneurial team and see great potential for GroupSpaces as a one-stop-shop for groups worldwide.”

- ENDS -
Editors Notes
Press enquiries to: Margaret Henry, PR Director, Oxford Innovation.
Tel: +44 (0)1865 811199 E-mail: m.henry@oxin.co.uk

Photos available on request
Andy Young (left) and David Langer (right), Founders of GroupSpaces.
Video available at: http://groupspaces.com/c/about/press

About GroupSpaces
GroupSpaces is developing technology to help real-world groups and communities manage and promote themselves online. Today our software helps manage over half a million memberships for sports clubs, charities, university societies, national associations and many other groups. GroupSpaces was founded in 2007 by David Langer and Andy Young, frustrated with their experiences managing groups while at Oxford University. GroupSpaces is funded by Index Ventures and a consortium of angel investors including Simon Levene, Dave McClure, Chris Sacca, Quincy Smith, Meagan Marks, Stephen Bullock and Simon Blakey. For more information: www.groupspaces.com

About Oxford Early Investments (OEI)
Founded in 2004, Oxford Early Investments (OEI) is a business angel network that helps early stage companies raise funding from £25,000 to £150,000 by matching them with business angel investors who often provide management input as well as capital. OEI holds monthly investment meetings, where selected companies from across the UK pitch their business proposals to OEI’s investor members.

OEI has two successful sister networks. Oxford Investment Opportunity Network links investors with technology companies seeking funding of up to £2 million. Thames Valley Investment Network links investors in the Reading and Thames Valley area with companies in the general technology, media and green tech sectors seeking funding from £150,000 to £750,000.

OEI is managed by Oxford Innovation, a leading operator of business and innovation centre premises for start-up companies, and sponsored by Manches, Dehns, Richardsons and the Harwell Campus Programme. For more information: www.oxei.co.uk


Publisher Contact Information:

Oxford Early Investments
+44 (0)1865 811199
m.henry@oxin.co.uk

Company profile of Oxford Early Investments
Past press releases of Oxford Early Investments.

Data


26,126
Tech investments
From our Online Data Service
16,881
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Sep 13N/AEnergy related
Sep 13€12.6MConsumer electronics
Sep 12€39.0MBiopharmaceuticals
Sep 12€2.3MInternet commerce
Sep 12€2.1MInternet services
Sep 12€4.0MMedical devices
Sep 12€9.0MSoftware development

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.