ANT secures further funding

Internet appliance software developer ANT has secured a new round of VC-initiated funding that totals over GBP 2.5 million.

Internet appliance software developer ANT has secured a new round of VC-initiated funding that totals over GBP 2.5 million.

This brings the total investment in ANT to date to GBP 8.5 million.

VCF Partners led the round, which was strengthened by re-investment from existing VCs.

With willing parties on all sides, the round was closed in a period of just eight weeks.

VCF Partners invested GBP 2 million of the new funding from two Venture Capital Trusts, Foresight Technology and TriVest, while Inflexion plc and Beeson Gregory Technology Investments, two of ANT's existing investors, each contributed an additional 10% of their original investments.

The remaining funds came from private investors.

"We first met the ANT team two years ago and were impressed with the people and the technology", said Matt Taylor, Partner of VCF.

"Since then the company has established a leading position in its market and achieved high volume sales.

So when the opportunity came to invest, we moved swiftly.

It's good to deal with such a motivated team and to work with quality co-investors like Inflexion".

Paul O'Donovan, Senior Analyst, Consumer Applications at Gartner Dataquest commented, "Software is one key to the growth and success of the home entertainment and digital consumer market.

Consumer confidence remains high and even in this period of economic uncertainty the digital consumer market is forecast to remain relatively buoyant.

Companies with the right product at the right time have tremendous potential for growth in this rapidly evolving market".

"This is an amazing achievement for ANT and proof of the market's confidence in our business", said Simon Woodward, President and CEO of ANT.

"This new investment comes at an exciting time for us: we've recently moved to a new global HQ in the UK and are progressing with a programme of rapid expansion and recruitment.

We will use this funding to build on the substantial growth we have already achieved, further developing our product offerings and support for our customers and partners".

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