Mtivity nets $7.0m funding to support expansion

Software company Mtivity has secured $7.0m investment from the UK's largest syndicator of private investors, Hotbed, alongside funds from Albany Ventures and YFM Group.

Mtivity is a web-based software system that automates the marketing supply chain and manages companies' marketing functions, delivering significant cost savings to end users.

This encompasses all processes from planning and budgeting through creative and print management to measurement and reporting.

Accessed by users through a web browser, there is no application to download or install and the system is extremely easy to adopt and use.

"Mtivity has developed an innovative 'Software as a Service' application to automate key elements of marketing production and distribution; we have tripled our year-on-year sales and have acquired a blue-chip list of clients," said Patrick Kremer, CEO of Mtivity.

"This new financing round, funded by first-quality new and existing investors, further validates our strategy and will allow us to fuel our expansion plan even further".

The Mtivity product suite is used throughout the marketing supply chain by large corporate marketing departments, lead creative agencies, design agencies, print managers and printers.

With the software delivering in excess of 50% savings Mtivity is already experiencing renewal rates of 90% from its existing customers.

Russell Pope, Hotbed Investment Director, commented: "The Mtivity product is delivered to customers as a service, an annuity generating business model with very high renewal rates.

"There is a strong management team with significant sector experience and a track record of building and selling early stage software companies.

"One of the reasons Mtivity's web-based delivery model is successful is because it significantly reduces barriers to adoption.

"Buy-in from the client's IT department is not required and there is no capital purchase decision necessary.

"We believe this is a very attractive opportunity for our investor members.

"Mtivity is an early-stage, fast-growing software company in a large and rapidly expanding market in its infancy".

John Morrison, Director at Albany Ventures, stated: "This fundraising will be key in Mtivity developing its exciting growth plans; we are delighted to continue to support Mtivity in this funding round, which we believe will help establish the company as the leading European vendor in this market space".

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