Web video company in funding round

Datmedia, a developer of software allowing users to publish internet video from a computer or mobile phone, has secured funding of £500,000.

The Cardiff-based company will use the financing to expand into new markets, as well as developing its managerial, technology and sales teams.

Finance Wales, the investment arm of the Welsh Assembly, provided £400,000, with the balance coming from business angel network Xenos. As part of the deal David Hulston, an investor with Xenos, is to join Datmedia’s board.

Says Hulston, ‘Online streaming media is an exciting growing market. We have already seen huge growth in the consumer sector with increasing use of BBC iPlayer and You Tube. Datmedia are capitalising on this in the enterprise sector.’

Datmedia’s managing director Stephen Clee says companies are using video streaming for marketing, communicating with staff online and making presentations to customers.

Legal advisers on the deal were Capital Law for Datmedia and Geldards for Finance Wales.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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