Digital content management company VYRE has received £1 million funding from Octopus Ventures.

Digital content management company VYRE has received £1 million funding from Octopus Ventures.

London based VYRE was founded in 1997 and employs around 63 staff. The company’s main product, VYRE Unify, is a content management system for building websites and marketing and branding. The company also has a New York office.

VYRE’s customers include Diageo and IMG Media and the company plans to use the investment to fund its growth.

Andy Peters, CEO of VYRE, says: ‘When we were looking for investment, we explored traditional bank finance but most were simply not prepared to provide funds, and the few that were couldn’t offer the same level of flexible funding as Octopus.’

The investment was made from the Octopus Capital for Enterprise fund (OCfE), a £30 million UK government backed initiative to help small businesses obtain fresh liquidity during the economic downturn, when banks were reluctant or unable to lend.

The investment in VYRE is the 12th deal Octopus has completed from its OCfE fund.