YFM in £2m round for Intamac

Amy King
23 June 2014

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YFM Equity Partners has led a ТЃ2m funding round for existing portfolio company Intamac, a Northampton-based technology company in the connected devices sector.

Existing investors Seraphim Capital and 350 Investment Partners also committed capital to the funding round.

YFM drew down capital from the Chandos Fund – which had previously backed the company – and British Smaller Companies VCTs.

Previous funding
The latest funding round is the fifth completed by Intamac, which has raised £14.5m to date.

According to unquote" data, in 2002 the company raised capital from Catapult Venture Managers in exchange for a minority stake in the business.

In 2006, Katalyst Ventures invested £270,000 alongside London Seed Capital, which provided £100,000 of funding, and London Business Angels EIS Tracker Fund III, which invested £75,000.

In January 2010, Seraphim led a £2m round for Intamac alongside the Chandos Fund, managed by YFM. In July that year, Carbon Trust joined a £4m round for the company, with co-investment provided by Seraphim and YFM's Chandos Fund.

Company
Intamac was founded in 2001 and is based in Northampton. Intamac helps equipment manufacturers and service providers to connect household systems – alarms, CCTV, heating control, locks, fridges, washing machines and ovens – to the internet.

The company's cloud-based software, Enso, is used by blue-chip companies including Scottish Power and Belgacom.

People
Director David Bell led the deal for YFM.

Advisers
Equity (YFM) – Addleshaw Goddard (Legal).
Management – Hewitsons (Legal).