Betapond Secures €2 Million in New Funding Round Led by the Ulster Bank
Diageo Venture Fund
Leading European Facebook developer to drive ecommerce with social data
LONDON -- May 29, 2013
Betapond, a leading social technology firm and Europe’s most established
provider of Facebook technology solutions for global brands in retail,
consumer goods and tourism, has raised €2 million in a new funding round led
by The Ulster Bank Diageo Venture Fund, managed by Investec Ventures. Delta
Partners and Irrus Investments also participated in the round.
Betapond plans to use the funds to accelerate development of its social
commerce offering to retailers, powering product recommendations from other
Facebook users the consumer trusts.
Declan Kennedy, CEO and co-Founder of Betapond, said: “We are thrilled to
secure this new round of investment led by the Ulster Bank Diageo Venture Fund
and to be working with Investec Ventures, whilst deepening our relationship
with Delta Partners and Irrus Investments.”
He added: “Betapond delivers innovative social technology solutions to a great
portfolio of global brands. This funding enables the Company to accelerate its
development and go-to-market plan to be a global leader in social commerce
Leo Hamill, Partner, Investec Ventures, said: “We are delighted to complete
this investment in Betapond and look forward to supporting them as they
continue growing and developing the business. The company has already
established itself as a Facebook Preferred Marketing Developer and has a
proven ability to build relationships with some of the world’s best brands.
Betapond combines many of the key attributes we look for when investing in a
business including a highly professional and capable management team, a proven
business model and a clear strategy to grow the business both domestically and
John Kenny of Delta Partners added, “Over the past 18 months, Betapond has
laid the foundation for its social recommendation product offering. We are
pleased to welcome Investec Ventures to the table at this pivotal time in the
Delta is participating in this round from its expansion stage fund, Delta
Equity Fund III Ltd Partnership.
Founded by Declan Kennedy, Conor Ryan and Peter Elger in 2009, Betapond is
headquartered in Waterford, Ireland with offices in London, Dublin and San
Jose. Betapond solutions allow global brands to make intelligent use of social
platforms and innovate to engage with people. In 2011, the Company raised
€1.15m in venture capital funding from the Bank of Ireland Start-up and
Emerging Sectors Equity Fund, managed by Delta Partners, Irrus Investments and
Enterprise Ireland. Since then the Company secured significant new customers
in Unilever and Marks & Spencer.
Leo Hamill will represent the Ulster Bank Diageo Venture Fund on the board of
Betapond. John Kenny will continue to represent the interests of Delta
Partners on the Board of Betapond.
Betapond is a social technology solutions provider that enables global brands
to grow revenue, gain consumer insights and extract greater value from social
The Company is a recognised expert at helping brands inspire their consumers
to share stories of real world experiences in social media. Betapond is one of
a select group of companies worldwide designated as a Facebook Preferred
Marketing Developer. The Company has worked with some of the most recognised
names in consumer goods, retail and tourism, including Unilever, Marks &
Spencer, Tourism Ireland, Intel, Dove, VisitBritain, Boylesports, The Met
Office and Paddy Power.
Betapond is headquartered in Waterford, Ireland with offices in London, Dublin
and San Jose.
About Investec Ventures Ireland Ltd (“Investec Ventures”) and The Ulster Bank
Diageo Venture Fund
Investec Ventures (formerly NCB Ventures), is part of the Investec Group in
Ireland, and manages the €75 million Ulster Bank Diageo Venture Fund
established in 2008 under the Enterprise Ireland Seed and Venture Capital
The Fund invests €1-€5 million in Irish companies across a range of sectors
and all stages of development and has, to date, invested in fourteen companies
AMCS, Brite:bill, Betapond; ePub Direct, Ferfics, Gridstore, Helix Health,
HeyStaks, MicksGarage, Rainmaker, RAPT Technologies, Terminal Four Solutions,
Xtra-vision and Zamano.
Investec Ventures has invested in over 40 Irish businesses taking them from
early stages of development through to trade sale and IPO. The Investec Group
is a leading international, specialist-banking group, with headquarters in
Johannesburg, South Africa. The group was founded in 1974 and currently has
approximately 8,000 employees with offices in 14 countries. Investec is a
distinctive Specialist Bank and Asset Manager providing a diverse range of
financial products and services to a niche client base. These include Treasury
Services (including hedging/FX/Deposits), Wealth Management, Institutional
Equities, Bonds, Specialised Lending, Corporate Finance and Venture Capital.
For more information please visit: www.investec.ie.
Investec Ventures Ireland Limited trading as Investec.
About Delta Partners
Delta Partners is a venture capital firm investing in Ireland and the United
Kingdom. Established in 1994, it has €230 million under management, and is
currently investing the Bank of Ireland Start-up and Emerging Sectors Equity
Fund and Delta Equity Fund III. The firm has a strong focus on investing in
early-stage technology firms and the team has made over 70 investments in the
information communications technology and healthcare sectors. Delta Partners
is among the most active early-stage investors in Europe.
Declan Kennedy, +44 20 3368 6820
Ben Valdimarsson, +353(0)14786244 / Mob: +353(0)861735123
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