RealTime IT News

UK Internet Consultancy Raises $11 Million

Top European Internet consultancy NVision has raised an additional $11 million in a second round of funding.

The latest investment was led by Warburg Pincus and supported by Schroder Ventures. Warburg Pincus now has a global portfolio of 16 Internet businesses.

Bracknell-based NVision says it will use the investment to acquire new offices in London and add a further 160 staff by the end of next year. It also plans to establish a European Innovation Centre focusing on new developments such as mobile telephony, WAP (wireless application protocol) and interactive television.

"Our investors agree with us that the real money in the Internet gold rush will be made by providing the infrastructure for the emerging Internet-based economy," said Michael Walton, CEO of NVision.

"As interactive architects, we are singularly able to do two things: move established, bricks and mortar companies onto the Internet; and help web businesses to set-up and mature, rather than burn out in adolescence."

Michael Walton spoke of NVision's exponential growth since it was founded just 18 months ago. He predicted continued growth, culminating in a flotation as "a solid and profitable company" in 18 months' time.

Among NVision's clients are EW Blanch, IPC, Waterstone's, Granada Media, Thomas Cook, IPC Magazines, BNB, Fine Art Developments and confetti.com.