YFM in £3.6m round for Biz2Mobile

The remaining £1.1m of funding was provided by the company's existing backers.

The fresh capital will enable Biz2Mobile to invest in the development and marketing of its Elemez analytics tool.

The transaction marks YFM's third deal of 2016. In July, it injected £2.75m into cloud-based telephone systems provider Sipsynergy and joined Maven Capital Partners for a £12m MBO of telecoms network installation business Indigo Telecom Group.

Company
Founded in 2002, Abingdon-headquartered Biz2Mobile develops data software. It has two products: Elemez, which monitors and measures mobile device behaviour; and MProdigy, which monitors and analyses mobile device deployments.

B2M has additional sales and marketing operations in the US and has developed partnerships with manufacturers including Zebra Technologies and Panasonic Computer Products Europe.

According to publicly available documents, the company incurred a loss of £1m in 2015.

People
YFM – Charlie Robinson (investment director).
B2M – Julie Purves (founder, CEO).

Advisers
Equity – TLT, Jon Gill, Nina Searle (legal); HMT, Paul Read (financial due diligence); Plural Strategy, Phil Stone (commercial due diligence); Stratton HR, Anna Cornwallis (operational due diligence).
Company – Taylor Wessing (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland
• Technology
• YFM Group
• Venture
• United Kingdom