Investee Company – iOra Ltd
Investee Company Country – UK
Investee Company Business Type – Develops and markets mobile content management solutions
Type of Financing – Expansion, Development
Equity Providers – b-business partners, Cazenove Private Equity
Equity Leader (Individual) – Simon Edwards, b-business partners
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – $15 million
Total Deal Value – $15 million
Other Advisors – MTI
Comments – Mobile content management company, iOra, has completed a $15 million round of equity financing. Investors in the round included European venture capital firmb-business partners and Cazenove Private Equity. The round was arranged by previous investor and early stage technology firm, MTI.
iOra was established in 1997 with founder angel investment. This was followed by a $3 million round of funding from MTI who have continued to take an active role in the development of the business.
iOra’s mobile infrastructure technology and products enable businesses to deliver centralised intranet content to mobile professionals while supporting dialup, wireless, and offline access. The core technology allows updated information to be efficiently transmitted, extending also to low-bandwidth dialup and wireless connections.
The scope of the fresh equity will extend to accelerating growth in the mobile content management market, via direct, channel, and OEM sales. iOra is also looking to further develop its products and technology in order to extend across dominant laptop and PDA devices.
Simon Edwards, managing director at b-business partners, commented that: “This is our biggest investment in pure technology to date, which reflects our belief in the importance of iOra’s software for the future of mobile content management.”