Presence Online Receives $7.5 in Funding
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[Sydney, AUSTRALIA] Four year old Sydney-based content management and personalization solutions developer Presence Online has gained AUS $7.5 million (US $4.4 million) in funding to speed development of its flagship product Aptrix.
The multimillion dollar capital injection has come from Deutsche Asset Management (DAM), one of the country's most prominent investors in the private equity sector.
DAM has contributed the investment through two recently launched funds, the Ericsson-Deutsche Technology Fund, a joint venture with Ericsson Australia to invest in local technology companies, and the Deutsche Private Equity Fund which targets businesses across the spectrum of industries that have high growth potential.
Presence Online developed Aptrix when working for one of its first clients, AMP. The developer retained the rights over the tool, and has since used it with other clients such as Goodman Fielder, AXA, Virgin Direct and Alcatel.
Presence has also sought integration support from IBM and Lotus, so that its tool operates with other applications such as Notes.
"It's at the forefront of developments which will revolutionize the way customers interact with corporates of the Web, making the concept of serving personalized content a reality," said DAM director of private equity Peter Dowding of the decision to invest in Aptrix.
Presence Online will use the funding to expedite the launch of the next generation of Aptrix, alongside a Java-based release. The company will also continue to expand its bases beyond its current London office, to take better advantage of Aptrix's worldwide business potential.
According to Presence Online co-founder and business director Tim Birsdall, the company has been courting offers of venture capital support from a number of investors. He said that the decision to choose DAM was driven by the company's "profile, connections and quality staff required for a successful venture capital endeavor."