Henley-in-Arden, UK, 30 September 2013. Venture capital fund manager Mercia Fund Management (MFM) today announced a Seed Enterprise Investment (SEIS) in online marketing start-up Metric. Set to launch in January 2014, the company offers a suite of tools to create, manage and analyse e-marketing campaigns and promotions in real time.
MFM has recently introduced a new Digital and E-commerce division, headed up by former SEGA CEO Mike Hayes, and this investment is the first in these growing sectors. Mike commented: “What I see in Metric is a very powerful set of tools and a business model which has the potential to change the way marketing and brand managers work. Metric’s real time technology provides brands with a new way to connect with their customers, providing real time customer data and insight through a truly innovative interface.”
James Wood, founder and CEO of Metric, comments on the deal: “MFM has completed an initial Seed EIS investment, and we hope will invest further as our company expands. We chose MFM as we wanted to find a long-term partner for investment, mentoring, advice and support services. We have a great rapport with the team as they offer value added services, rather than being purely a source of funding.”
Metric is yet another company to benefit from SEIS funding from the Mercia Growth Fund suite of funds, (MFM’s hybrid EIS/SEIS funds). The funding will be used for product development and roll-out, marketing and sales operations targeting marketers and brand managers.
Metric was founded by James Wood who, over the last few years, has designed and built bespoke e-marketing campaigns deployed over social media networks. With his extensive knowledge of the Facebook Platform and status as a Preferred Marketing Developer partner, he has worked with major brands and digital agencies. Using this knowledge and expertise, the Metric team has created a platform to provide marketers and brand managers with a single e-marketing campaign solution for the first time.
Mark Payton, Managing Director of MFM added: “With over £19 million under active management, we are seeking exciting scalable businesses such as Metric that come from a new stable of companies from the digital, e-commerce and gaming sectors. The expanding team here at Mercia Fund Management continue to look for businesses seeking funding from start-up through to development and expansion capital.”
Metric’s software-as-a-service business model enables both large and small brands to undertake campaigns cost effectively. Everything is automated and delivered by Metric’s advanced distributed cloud infrastructure.
About Mercia Fund Management
Mercia Fund Management (MFM) is a venture capital fund manager with over £19 million under active management.
MFM provides investment growth capital for businesses ranging from early commercial traction through to those seeking expansion or working capital that are trading profitably. Furthermore, MFM can also provide cost-effective incubator accommodation at Forward House in Henley-in-Arden coupled with centralised support services in keeping with its model as a hands-on, supportive investor.
MFM is an FCA authorised and regulated fund manager under FSMA (FRN: 524856).