Seedcamp backs communication business Mailcloud through new fund

A $1.8 million investment has been made into one year-old start-up Mailcloud, with contributions coming from Seedcamp London, Octopus Investments and Bessemer Venture.

Mailcloud has followed up a $1 million fundraising at the start of the year by banking a further $1.8 million so that it can finance new development of its service.

Founded in November 2013 by Malcolm Bell after the entrepreneur grew tired of the amount of emails he was receiving, Mailcloud connects to existing email accounts and then organises communication, emails, files, people and companies into folders and timelines.

The company’s $1 million commitment in January of 2014 was backed by Bell’s investment company Dessinka, while its latest has drawn in supporters from the wider venture capital and angel community. Octopus Investments, Bessemer Venture Partners and the new $50 million Seedcamp London fund are joined by Skyscanner co-founder Barry Smith, Deezer founder Daniel Malhery, Advent Ventures partner Frederic Court and Irish entrepreneur Ray Nolan.

Commenting on the deal, Bell says, ‘I started Mailcloud because I was really frustrated after receiving 145,000 emails in 2011. Since I was a kid, I always had a passion for technology and this was a problem I believed technology could solve.

‘This latest funding will help us to really push forward the development of the service, we welcome Octopus and our new investors on board and look forward to working together to help teams work easier and faster.’

Mailcloud, which is a Microsoft Bizspark Plus company, plans to go live in November on Android and iOS devices. Its team currently comprises staff that have previously worked at the likes of IBM, Vodafone and Hewlett Packard.

Alliott Cole, a member of the ventures team at Octopus Investments, adds, ‘At Octopus we focus on identifying entrepreneurs and fast-growth companies that can scale explosively to create, transform or dominate an industry and we believe Mailcloud will do just that within the communications industry.

‘We are extremely proud and excited to be backing Malcolm and the team at Mailcloud alongside other high profile angel backers.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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