Serial entrepreneur Ed Bussey believes that raising new growth capital for his Quill business is a ‘significant vote of confidence’.
The London-based company has raised £5 million through a transaction led by private equity firm Smedvig Capital, backers of Streetcar and Ocean Outdoor.
Sitting alongside Smedvig Capital as backers of Quill are Julie Meyer’s Ariadne Capital Partners, Spotify investor Shakil Khan and Toptable founder Karen Hanton.
Bussey’s Quill, which was previously known as iTrigga, provides businesses with web-optimised content to help increase revenues. Prior to setting the company up, the entrepreneur was COO at mobile phone utility and social networking site ZYB, which was sold to Vodafone in 2008 for €31.5 million. He also joined the start-up team at online fashion retailer figleaves.com in 2000.
The £5 million that Quill has now banked has been raised so that the company can build on the 25 per cent of revenues derived from overseas. International growth is being focused on China, Germany and the US.
Bussey says that Smedvig’s capital will allow Quill to invest ‘significantly’ in the expansion of its operations, platform technology and talent.
Quill’s previous funding round dates back to May 2013 when it raised £1 million to grow its management team and base of writers.
More on Smedvig Capital deals:
- Ocean Outdoor exits from Smedvig Capital after four years
- Streetcar backers make new investment
- Kabbee hails funding
Jordan Mayo, managing director at Smedvig Capital, comments, ‘We are already seeing content emerging as a powerful alternative to paid-for advertising, as brands respond to the increasing demands of the digital marketplace.
‘We have been impressed by the exceptional quality of content created by Quill’s in-house editorial team and global writer network, and the flexibility and scalability that Quill’s technology platform offers its clients in delivering this content globally; on any topic, in any format and in any language.’
Quill now has a client roster including WPP, Publicis, LA Fitness and STA Travel. The business has 2,000 ‘specialist’ writers and editors, graphic designers, photographers and video producers working in 53 languages and 17 countries.
