AssetHouse closes �5.5 million round of equity funding
UK content management entrant set for global expansion
UK -- Dec 14, 2000 -- AssetHouse, a developer of software enabling the management of content through any digital channel, today announces the completion of a �5.5 million round of equity financing. Investors contributing include BT, Intel Capital, LMS Capital and Quester.
AssetHouse will use the money to fund its rapid expansion strategy. Revenue from sales, both in the UK and globally, should help propel the new company to its planned IPO.
AssetHouse technology enables the delivery of content in a consistent manner over multiple channels including: Intranets, Web sites, mobile devices, idTV, Kiosks and traditional print media. Simple content contribution and administration tools enable the creation of services reducing considerably the dependency on technical personnel. The AssetHouse architecture is open, scalable and designed for unconstrained �carrier class� deployment.
AssetHouse has already amassed a highly experienced management team of senior players from BT, Informix, Inktomi, American Express, Neon and Microstrategy. Ownership is currently split between the management, employees, British Telecommunications and AssetHouse�s investors, which include Intel Capital and venture capitalists, LMS Capital and Quester.
"We are delighted to be associated with this exciting opportunity. It�s very rare for a new company to enter the market with a product, customers and a revenue stream from day one. Add to this the fact that it�s in one of the fastest growing market segments today, has the support, equity and business involvement of two of the world�s leading technology players and you have a very compelling proposition," said Michael Bennett, advisor to LMS Capital and project leader.
"This is an area that Quester has been following for some time and found that AssetHouse was by far the most exciting proposition in the space," said Nick Stinton, investment manager at Quester.
"The company�s product, AssetServer, is specifically designed to enable companies to manage the delivery of content in a consistent manner over multiple channels," said Jonathan Callcut, CEO and founder at AssetHouse.
"It is a proven technology that is already used by companies for mission-critical functions. Users benefit from faster time to market, simplified processes for digital publishing, a reduction in costs and an end to content duplication. In short, AssetHouse turns company media into a true digital asset."
AssetHouse Technology Limited is a private, UK-headquartered, expert content management company. Its software enables the delivery of e-business content for Web, WAP, print and idTV from one source.
Its software, developed in conjunction with BT, has ongoing logistical support from Intel�s Content Group. AssetHouse will also be drawing on �5.5 million of venture capital funding raised from LMS Capital, Intel Capital and Quester.
The main role of the software is to address the growing problem of capturing, cataloguing, searching, retrieving and distributing multi-media information across multiple digital channels. It does this by creating a logical repository of content, so a single update like a change in product price can be replicated across all platforms, including the Internet, an intranet, a WAP phone or an interactive TV interfaceThe software is designed to be used by people with minimal technical knowledge, thereby empowering employees and business partners to contribute and collaborate on corporate information unassisted in a controlled and disciplined environment.
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. In Europe Intel Capital invests through Intel Atlantic Inc., a subsidiary of Intel Corporation. www.intel.com/capital
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