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The Capital Fund invests £250,000 in Presence Networks
Software innovator will take industry-leading products to market with the help of fresh funding


Secure instant messaging service provider, Presence Networks, has attracted £250,000 of investment from The Capital Fund, a £50 million venture capital fund that invests in fast growth companies in Greater London. One of a series of significant investments in Presence Networks, The Capital Fund’s backing will help take the company’s innovative and unique products to market, and develop sales and marketing capabilities.

Instant messaging allows users to send and receive real time messages and texts to other users online. It is extremely useful for businesses for dealing with employees, clients or suppliers in the office or remotely – with significant productivity and cash savings to be made by taking advantage of such instant online communications.

Research firm, Gartner, estimates that there are 42 million users of secure instant messaging worldwide which should rise to 63m users by 2008, as corporations adopt voice over IP solutions. However, currently, the vast majority of messaging is sent using insecure services. With the ever increasing danger of sending corporate information across insecure networks, there is a huge market for secure electronic communication systems that protect company data and prevent attack from computer viruses.

With over six years of development and investment, directed by Presence Networks CEO Symon Blomfield, the company’s software platforms provide industry leading levels of security, authentication and control for corporate instant messaging systems.

The key to instant messaging’s success is the ability to let anyone logged into the network know when other users are likewise at their desks and available – something that email, for example, cannot provide. When this functionality is combined with secure voice services over the network, allowing phone calls online rather than using traditional mobiles or landlines, Presence Networks can provide a complete communications package.

Symon Blomfield commented: “Our services can be used by anyone, from a single home-based consultant to major international corporations. Instant messaging and online voice and data facilities have benefits for everyone, but we provide peace of mind and security.”

And, as big firms and consultancies increasingly have to take account of the carbon footprint of business travel and employee commuting, the ability to extend secure networks to home and remote workers will become increasingly attractive.

Mr Blomfield said: “Because our systems have a ‘presence’ facility, users can keep track of the online status of users anywhere, whether it’s at the next desk, at home or on site.”

Presence Networks’ products are marketed via a network of resellers, and the company can provide its services in a variety of ways depending on the eventual end user. Whether the resellers want to provide their clients with Presence Networks’ own managed service, or a white label system hosted by Presence Networks but managed by the reseller under their own brand, or even a fully-deployed separate stand alone system, Presence Networks is ready to provide the right customised solutions.

Coinciding with The Capital Fund’s investment, two new non-executive directors – John Pocock and Philip Jolowicz are joining the Presence Networks Board.

Mr Blomfield said: “I am delighted that John will be our new company Chairman. He brings a huge amount of experience in the IT industry, not least from his time as CEO of Druid plc. Also, Philip’s City and legal experience, which includes positions such as corporate broker for Banque Paribas and General Counsel for Merill Lynch’s European institutional activities, will be invaluable as the company develops.”

Stuart Nicol, Investment Manager at The Capital Fund, said: “We are delighted to be able to invest at such an exciting time for Presence Networks. Their products are well placed to take advantage of the huge, and growing, online instant communications market.
Publisher Contact Information:

The Capital Fund
+44 (0)1865 811199
m.henry@oxin.co.uk

Company profile of The Capital Fund
Past press releases of The Capital Fund.

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