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Great expectations for Presence Networks
Presence Networks, an instant messaging service provider, has received £250,000 of investment from The Capital Fund. It is one of a series of investments in the company by the venture capital fund, which backs fast-growth businesses in London.
The investment from The Capital Fund, which is part of the YFM Group, is intended to help Presence Networks take the company’s products to market and develop sales and marketing capabilities. Instant messaging allows users to send and receive real time messages and texts to other users online.
In addition to the injection of funds, Presence Networks has appointed two non-executives to its board.
John Pocock, who has pedigree in the IT industry and was once CEO of IT consultancy Druid, will be the company’s new chairman. Philip Jolowicz, who has worked as corporate broker for powerhouses like Banque Paribas and Merill Lynch, has also been brought onboard for his City and legal experience.
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