Mirifice Ltd (United Kingdom) - Jan 2008

unquote
01 January 2008

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In a second round of funding, YFM Group has invested £410,000 from its South West Ventures Fund into Mirifice Ltd, a broadcast software and consulting company. The new capital will be used to continue the organic expansion of the business, focusing on extending the roll out of the company’s product into the growing markets in Europe and the US. YFM previously backed the business with a £250,000 investment in May 2007 (30 July 2007, page 29-30).

Company

Bath-based Mirifice Ltd, formed in 2004 in the University of Bath as part of the SETsquared partnership, has developed MirimonTM, a unique monitoring solution for digital television networks. The product provides information on the quality of service delivered to the subscriber from the set-top box, notifying the broadcaster of any issues with supporting diagnostic information. This process, which can detect problems before the subscriber is actually aware of them, enables more efficient customer relationship management, network management and set-top box management, thus reducing operating costs. MirimonTM won a ‘pick hit’ award at the IBC Conference in 2007 and currently has a customer base that includes digital television broadcasters and set-top box manufacturers such as Virgin Media, Sky TV, Top Up TV, Samsung and Pace, as well as major telecommunications companies such as BT.

People

Julian Dennard led the investment for YFM, while chief executive Paul Tinkler represented Mirifice. The company has also recently appointed David Rogers, former CEO of Amstrad, as chairman.

Advisers

Company - Veale Wasbrough, Nathan Guest, Neena Mallord (Legal)Equity - Ashfords, Andrew Betteridge (Legal)

Sourced from: UK & Ireland unquote" 361 (Jan 2008)