PROfoundersCapital, the new VC fund of Michael Birch and Brent Hoberman who launched at the europas in july, made its first investment.
TweetDeck will receive £1.2 Millions in funding. The money will be used to find revenue streams while completing their product. The company was founded by former computer developer Iain Dodsworth in summer of 2008 and it is now thought that around 10% to 15% of all tweets are sent via the application. The business, which now employs six people, received its first funding injection this year — for $184,000 from a group of investors, including Betaworks in the United States.
Sean Seton-Rogers, general partner of PROfounders, said to the times: “A lot of funds are focused on making sure that the companies they have already invested in survive, they are internally focused, but we are ready to build this legacy. We are open for business and looking for deals.”
