Empower raises euro8 million in third round

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Investee Company

Empower Interactive Group (UK)

Investee Company Business Type

Messaging infrastructure software provider

Type of Financing

Expansion

Equity Providers

Digital Networks, IDG Ventures Europe, Newtonmore Capital Ltd and Telesystem Argo Global Capital LLC Equity

Equity Leader (Individual)

Francesco di Valmarana, partner, Digital Networks

Debt Provider

N/A

Debt Type

N/A

Debt Leader (Individual)

N/A

Equity Amount

€8 million

Total Deal Value

€8 million

Other Advisors

N/A

Comments

Empower Interactive Group, a provider of dedicated application messaging infrastructure software solutions, has raised euro8 million in a third round of financing. This round was led by Digital Networks, with additional investment from IDG Ventures Europe and existing investors Telesystem Argo Global Capital LLC and Newtonmore Capital Ltd.

Established in 1999, and headquartered in London, UK, Empower provides messaging infrastructure software that is specifically designed for application driven messaging. The company recently launched the world’s first Application Messaging infrastructure to enable mobile operators to cope with the upsurge in demand for application messaging. Empower has also demonstrated its commitment to the promising Asia Pacific markets, having recently opened its regional headquarters in Singapore in April 2002 and signing a broad range of agreements with partners such as Ericsson and Hewlett Packard across the region.

The proceeds from this investment will support the company’s further expansion in Europe, Asia and the US. The additional funding will also accelerate current marketing and product development efforts.

Steve Sahara, CFO of Empower, said: “This round strengthens Empowers foundation for growth. We attracted investors that add value due to their industry focus and collective experience. More importantly, they provide deep resources for future growth capital or strategic acquisitions.

Francesco di Valmarana, partner at Digital Networks, commented: “Digital Networks has known Empower for over two years and is very pleased to be able to work with the company and its management team to support its growth. Our focus on digital infrastructure allowed us to identify the company as an emerging leader, and we are excited to be part of the story as Empower solidifies its position as a core infrastructure player and agent of consolidation in the industry.