Monday, February 04, 2008

Dow Jones Venturewire article

17 January 2008

Thursday, January 17, 2008

UK Text Messager 2sms Secures $880K

London -- Mobile phone messaging services provider 2sms has secured an investment of GBP450,000 ($883,000). The funding includes GBP250,000
($490,000) from the Capital Fund, which participated alongside individual investor Richard Goldstein, who has also joined the 2sms board.

2sms provides text-messaging services to businesses, with software that can be bolted onto the back-end systems its clients are currently using, thereby avoiding technology conflicts, the company said.

Since beginning operations in 2000, 2sms has been concentrating on the U.K. market, where it now has more than 1,500 customers. The company is now expanding into the U.S.

Established in 2002, the Capital Fund, managed by YFM Venture Finance Limited, is a GBP50 million venture capital fund that backs fast-growing small- and medium-sized companies in the London area and is the largest of England's regional venture capital funds, the firm said.

©2008 Technologic Partners

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