Dynmark International Ltd (United Kingdom) - Oct 2007

unquote
01 October 2007

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In a second round of funding, the YFM Group managed South West Ventures Fund has invested an undisclosed sum in mobile messaging developer Dynmark International Ltd, taking a minority stake in the company. This latest financing follows a previous investment in the business by the South West Ventures Fund in December 2006. The new capital will be used to drive further organic expansion of the company, particularly through investment in the sales and marketing teams.

Company

Cheltenham-based Dynmark, founded in 2001, has developed a range of products around the awardwinning e-txt™ message manager, a bulk text message distribution and management system used by businesses for administrative broadcasts, direct marketing campaigns and customer relationship management. With the high levels of mobile phone ownership and the increasingly dynamic nature of contemporary business, use of text messaging in this context is a fast growing sector of the market. According to market research group Gartner, global text message traffic is projected to reach 2.3 trillion messages a year by 2010, with total revenues expected to grow to e72.5bn. Dynmark signed a contract with Carphone Warehouse in May 2007, adding to existing partnerships with Vodaphone UK, Sage and Microsoft.

People

Julian Dennard, investment manager of the YFM Group, led the investment for South West Ventures Fund. Oscar Jenkins is the founder and CEO of Dynmark.

Advisers

Company - Davenport Lyons, (Legal)Equity - Ashfords, (Legal)

Sourced from: unquote unquote" 356 (Nov 2007)