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SmithBayes secures Series A funding from Early Stage Investor of the Year, Eden Ventures

23 April 2007, LONDON: SmithBayes, a leading software company whose technology improves the agility with which organisations can make decisions and respond to change, announced its first Series A funding deal with venture capital fund Eden Ventures, recently voted  'Early Stage Investor of the Year', at the UK Technology Innovation and Growth Awards 2007.

The investment represents a key milestone in the growth and development of the company and confirms its position as a premier partner in helping the world’s leading organisations respond to changes in the business world with better insight, more precision and greater speed.

In today’s fast-paced, ever changing business environment, the ability to be agile when making strategic decisions is increasingly important. This was highlighted by a 2006 global survey by McKinsey & Company. The survey of over 1500 executives found that 89% ranked agility as extremely or very important to their company’s performance, and 91% believed that the importance of agility had increased in the preceding five years.

The business market acknowledges that there is a clear need for organisations to apply strategic agility and SmithBayes’ software enables its global clients to rapidly respond to shifting economic and market variables and capitalise on crucial business opportunities.

Simon Williams, CEO of SmithBayes, said: “Securing this sizable investment means we can now advance to the next level and further develop our presence in this vast market. This funding will be the catalyst for further expansion and growth, and we are delighted to have the backing of Eden Ventures. I am positive that SmithBayes will benefit from their market insights and unrivalled experience of working with early stage software companies.”

Ben Tompkins, General Partner, Eden Ventures, commented: “SmithBayes is a perfect example of world class British R&D bringing something fresh and new to today’s software industry. We share common values, believe the company is addressing an important need in the marketplace and are looking forward to helping the company grow.”

“With its current client base and strong management team it is a compelling addition to our existing portfolio,” he added.

Ends

About SmithBayes Ltd
Founded in early 2006, SmithBayes is a software firm that offers decision-makers a professional platform to make better and faster strategic decisions across their entire business portfolio. Since its launch, SmithBayes has quickly brought to market a powerful decision platform and analytical tools. The company has attracted interest from a wide range of industries in the UK, Europe and North America seeking to solve a variety of business issues and is currently working with customers in aerospace, energy, telecoms and healthcare.
 
About Eden Ventures
Eden Ventures focuses entirely on early stage UK and Ireland software opportunities in the telecommunications, digital media and enterprise sectors. As serial entrepreneurs, Eden's partners bring the highest levels of expertise in building early stage technology companies. As seasoned investors, Eden's partners bring a strong investment track record in this exciting sector. Eden adds significant sales & marketing, organizational and financial focus and capabilities to the existing technology value of its portfolio members.


SmithBayes to feature on BBC World
SmithBayes featured in the Sunday Telegraph
SmithBayes featured in the Financial Times
SmithBayes featured in Time magazine
SmithBayes featured on BBC Newsnight
Reuters reports on the SmithBayes/McLaren joint venture

Press Releases

Ian Turner, former Managing Director at Macromedia and Adobe, joins SmithBayes as Director of Sales
SmithBayes secures Series A funding from Early Stage Investor of the Year, Eden Ventures
Annette Stark, former Head of Reuters Solutions for UK and Ireland, joins SmithBayes as Director of Customer Services
SmithBayes completes MBO of McLaren Applied Technologies
SmithBayes earns Certified Partner Status in Microsoft Partner Program
SmithBayes signs Joint Venture with McLaren
SmithBayes hires former Reuters CIO as Chairman


For more information, please contact:
Aleks Vujanic
Burson-Marsteller

Email: info@smithbayes.com
   
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