A sixth commitment from the Panoramic Enterprise Capital Fund I has seen the new investment firm back Captify Media.
Digital marketing business Captify Media has secured £1.2 million of new investment capital to allow it to grow in the UK and overseas.
The investment has been made by Panoramic Growth Equity, a firm set up in 2009 by three former colleagues, through its Panoramic Enterprise Capital Fund I.
Captify Media has become the sixth investment to be made through the fund, and second in the digital media sector following a previous £1 million backing of Dog Digital in March 2012.
London-based Captify was founded in July 2011 by entrepreneurs Dominic Joseph and Adam Ludwin to provide services in the search targeting ad tech industry.
It has so far achieved year-on-year growth of 280 per cent and will now be looking to immediately double the size of its UK sales, operations and analysis teams.
Joseph, CEO of Captify, comments, ‘In less than two years, we have managed to work with over 150 leading brands, built a fantastic team of almost 30 and experienced rapid growth.
Captify has always been a profitable business and so have been able to self-fund to date. However, we have now reached a critical point where we feel ready to take the next step.’
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As part of the deal, Panoramic co-founder Malcolm Kpedekpo will be joining the board. Captify now plan to, in the next twelve months, launch in ‘strategic, high potential digital markets internationally’.
Kpedekpo adds, ‘Dom and Adam are a fantastic example of UK entrepreneurism and precisely why we choose to invest in businesses like Captify.
‘We will bring to the table experience of having worked with over thirty small businesses with revenues of £1 million – £10 million, and specifically helping them internationalise.’
Other Panoramic deals have seen the firm inject £1.8 million into Andante Travels in April and sell Solfex Energy Systems to Travis Perkins for an IRR of 62 per cent after a sixteen-month involvement.