VENTURE CAPITAL – Mediasurface still in the limelight

Integrated e-business content management solutions specialist Mediasurface has raised GBP21 million in fourth-round funding from a nine-strong investor consortium, taking its total venture backing to date to some GBP32 million (EURO48 million).

Mediasurface’s earliest backers 3i and Elderstreet participated in the funding alongside Amadeus, which led a third-round funding for the company last summer, and existing syndicate members Index Ventures, Dresdner Kleinwort Benson and Interregnum. The incoming investors were GE Equity, Goldman Sachs and Reuters Greenhouse.

In May, London-based Mediasurface announced the launch of its third generation software, Mediasurface 3. A leading provider of enterprise content management application software for Web sites, intranets, extranets and emerging digital networks, Mediasurface provides powerful software and services to manage every interaction between content, applications and people, irrespective of language or location. The company has aggressive plans for continued global expansion and is currently working to open new offices across Europe. Mediasurface’s CEO, James Metcalfe, says the company will also be investing heavily to ensure its customers “continue to benefit from the highest levels of services and support”. Discussing the latest funding, Metcalfe describes the consortium as “an excellent example of how European venture capital firms are adopting the investment philosophy of experienced West Coast technology investors”.

Amadeus partner Hitesh Mehta comments: “Since the last round of investment led by Amadeus, Mediasurface has far exceeded our expectations”. Elderstreet’s Paul Frew adds: “The company operates in a vast market and is on track to become the European category leader in a very smoky sector”.