Britain’s Hot Talent 2014/15

A handbook of UK venture capital innovation Editors

Chris Etheridge Mia Iwama Hastings Rory McDougall

Managing Editor

Tom Allchorne

For additional information

Tom Allchorne Email [email protected]

22 BVCA e: [email protected] w: bvca.co.uk Contents

Introduction

Foreword 4 Five facts about venture capital in the UK 5 Definitions of industry sectors 6

Company Profiles Chapter 1 Cleantech 7 Chapter 2 Digital & Consumer 19 Chapter 3 Finance & Business Support 53 Chapter 4 Information Technology 81 Chapter 5 Life Sciences 101 Chapter 6 Materials 113 Chapter 7 Media 121 Chapter 8 Medical 129 Chapter 9 Telecoms 151

Index Index by company name 164 Index by investor 169 Index by parliamentary constituency 186

e: [email protected] w: bvca.co.uk BVCA 3 Foreword

Welcome to Britain’s Hot Talent 2014/15, the latest BVCA handbook showcasing some of this country’s most dynamic and cutting-edge young companies. In fact this is the second version of this edition, reproduced due to overwhelming demand and with a number of new star companies added. Britain has a long and proud history of entrepreneurship and the businesses featured here are a snapshot of some of the exciting and creative work being carried out right now. We have profiles of over 100 venture capital-backed companies from across the British economy – all are fantastic examples of what can be achieved with ingenuity, hard work and the right support. Venture capital has long been a backer of innovation, providing investment and expertise to start-ups and early-stage companies across the UK and helping to turn fledging ideas into market leaders. As a backer of entrepreneurialism, venture capital has played, and continues to play, a vital part in this country’s business eco-system, and it remains crucial to the future of the British economy. What is perhaps most startling about this book is the diversity on display, not only by sector but also geographically. Much attention is paid to London’s Tech City – and rightly so – but the UK is home to numerous clusters of excellence. In the BVCA publication Tech Country we highlighted a number of the most successful clusters in the country, such as Cambridge, Bristol, Aberdeen and Manchester. The sheer range and variety of talent on these shores must be championed and investment encouraged if Britain is to compete on the global stage. Investment, however, is only part of the story. Business require advice and expertise in order to grow and venture capital firms are ideally suited to provide these crucial ingredients, to work alongside company owners and management teams and to help them grow and expand. It is the job of the BVCA and the BVCA Venture Capital Committee to ensure these messages are heard far and wide, to enable a better understanding of what venture capital is and how it can support ambitious enterprises. We hope you find Britain’s Hot Talent both interesting and useful. Young, innovative British companies should be celebrated, and that is what we hope to do here.

Tim Hames Director General, BVCA

September 2014

44 BVCA e: [email protected] w: bvca.co.uk Five facts about venture capital in the UK

One There are 90 venture capital investment houses actively managing venture funds in the UK.

Two Venture capital funds managed in the UK currently back around 1500 companies, employing around 50,000 people on a full-time equivalent basis (FTEs) across the world. Of these, over 30,000 are employed in the UK.

Three In 2012, BVCA venture capital members raised £428 million from UK and overseas institutional investors.

Four Over the five years to December 2012, £1.8 billion was invested at the VC investment stage into 2000 companies.

Five In 2012, the average amount invested at the VC investment stage was £796,000.

Source: BVCA Report on Investment Activity 2012.

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e: [email protected] w: bvca.co.uk BVCA 5 Definitions of industry sectors

Cleantech Life Sciences Alternate energy and agricultural Pharmaceuticals, biotechnologies, technologies, waste recycling, therapeutics compliance systems Materials Digital & Consumer Electronics, plastics, metals, fabrics, chemicals, new production methods Web and non-web based retailing, online marketing, social media Media Advertising, gaming, marketing, Finance & online video Business Support Financial services, process management Medical technologies, business intelligence Equipment, care and services

Information Telecoms Technology Security, software, location based Software, hardware, semiconductors services, connectivity

66 BVCA e: [email protected] w: bvca.co.uk Cleantech

cleantech

Cleantech

4energy

Backed by 4energy is a leading provider of innovative cooling and energy efficiency hardware and software to some of the 350 Investment largest global ICT businesses. Partners, British Gas, 4energy’s products and solutions reduce the Catapult Ventures, cooling requirements for electronic data centre and Environmental telecommunications equipment by up to 50%. Its Technologies Fund comprehensive management software and suite of hardware products enable customers to analyse their thermal footprints and adjust air flows and temperature gradients. Customers can use real-time data to improve operations across a network of sites, save energy, and make space for new infrastructure by removing excess cooling equipment. Formed in 2005, the company is headquartered in Nottingham and operates throughout the UK and across Europe, China, India, Africa and North America.

Key Management Pat Tindale – Chief Executive Officer and Founder Website www.4energy.co.uk

e: [email protected] w: bvca.co.uk BVCA 9 ACAL Energy

Backed by ACAL Energy is a developer of fuel cell systems, modules and consumable chemicals for a range of 350 Investment uses including stationary, residential and automotive Partners, applications requiring more than 1 kW of power. Its Enterprise Ventures, innovative designs deliver substantial cost savings I2BF Global Ventures, in fuel cell systems and performance improvements Northstar Ventures, in PEMs (Proton Exchange Membrane) that will Parkwalk Advisors, accelerate the adoption of PEM Fuel Cell technologies in key markets. Porton Capital Limited ACAL Energy was founded in August 2004 to research and optimise Dr Andrew Creeth’s invention for addressing the inherent technical limitations of the cathode side of membrane based fuel cells. Dr Creeth has been working in the field for more than 20 years and has synergised recent advances in chemistry with a process developed in the 1950s. The company has demonstrated that the technology has the potential to address hugely significant issues that are preventing the commercialisation of this new energy technology. ACAL Energy is based in the North West of England and also has facilities in the North East of England to have access to state of the art fuel cell testing and support equipment. Its current laboratory and commercial facilities have continually expanded to accommodate the company’s in-house chemistry development team and engineering resources. To support its own facilities, ACAL Energy has R&D collaborations in place with a number of the UK’s leading centres for research on fuel cells and its related technologies, including The University of Newcastle Upon Tyne, The University of Manchester, and C Tech Innovation Ltd.

Key Management Andrew Creeth – Chief Technology Officer and Co-Founder Website www.acalenergy.co.uk

10 BVCA e: [email protected] w: bvca.co.uk Anesco

Backed by Anesco is a national energy efficiency solutions company dedicated to helping businesses, local Scottish Equity authorities, housing associations and homeowners Partners, reduce their carbon emissions and energy costs. Zouk The company provides a comprehensive energy service, from audits through to recommendations, installations and capital funding plans and was one of the first to be approved as a provider under the UK government’s Green Deal scheme. Founded in 2010, Anesco works with customers across a broad spectrum of industries and has managed some of the country’s largest and most complex energy efficiency projects, helping to raise over 10,000 people out of fuel poverty. Sustained growth is also seeing the company create jobs at every level and within the communities in which it operates. With its groundbreaking ESCO Model, offering a holistic approach for organisations looking to improve their energy efficiency, and its innovative maintenance and monitoring service for renewable installations, AnescoMeter, it has quickly become a leader in its field.

Key Management Adrian Pike – Chief Executive Officer Website www.anesco.co.uk

e: [email protected] w: bvca.co.uk BVCA 11 Arvia Technology

Backed by Arvia Technology span out of The University of Manchester’s world-class research centre in 2007 with MTI Ventures, a unique technology that uses adsorption coupled with Park Walk Advisors, electrochemical regeneration to destroy a wide range Sustainable Technology of toxic and non-biodegradable organic contaminants Investors Ltd from aqueous effluents. The technology can be applied to a number of different sectors, such as the water and hazardous chemical industries, but currently Arvia is applying its efforts to the nuclear industry where the technology is being used to destroy inventories of radioactive oils and solvents. Since its launch in the nuclear sector in 2012, the technology has attracted large amounts of interest, resulting in a number of international projects.

Key Management Mike Lodge – Chief Executive Officer Website www.arviatechnology.com

12 BVCA e: [email protected] w: bvca.co.uk Breathing Buildings

Backed by Breathing Buildings is the UK’s leading low-energy ventilation company, a spin-out from Cambridge Low Carbon University that is changing the world of natural Innovation Fund, ventilation. Berti Investments, MMC Ventures Through a research programme at the university, a new low energy ventilation concept was developed. This concept was patented in 2005 and Breathing Buildings was set up by Dr Shaun Fitzgerald to develop the concept into an easy-to-install system and provide the resulting e-stack product range to the industry. The e-stack was commercially introduced in 2007, and e-stack systems are now operating in over 65 different buildings across the UK, ranging from retail projects to local primary schools, and there is a substantial pipeline of new projects for which Breathing Buildings is actively engaged in supplying e-stack systems.

Key Management Dr Shaun Fitzgerald – Chief Executive Officer and Co-Founder Website www.breathingbuildings.com

e: [email protected] w: bvca.co.uk BVCA 13 Exosect

Backed by A University of Southampton spin-out, Exosect is a pesticide developer focused on the development of Entrepreneurs Fund, intelligent pest management solutions. Hygea VCT, The company’s innovative and cost-effective products MTI Ventures, help growers, food manufacturers and processors to Oxford Capital Partners, actively reduce their use of pesticides. These products WHEB Partners are used globally in a wide range of sectors including crop protection (agriculture, horticulture and stored products), apiculture and public health. Exosect is a SOFHT (Society of Food Hygiene and Technology) award winner, a category winner in the Guardian Global Cleantech 100 awards and a finalist in the Agrow Awards. Since its establishment in 2001 it has gained more than 60 patents and 30 national product registrations and successfully test-marketed the technology and products.

Key Management Martin Brown – Managing Director Website www.exosect.com

14 BVCA e: [email protected] w: bvca.co.uk Oxford Photovoltaics

Backed by Oxford Photovoltaics (Oxford PV) is a spin-out from Oxford University which is developing low-cost, MTI Ventures, efficient solar cells that have the potential to turn Parkwalk Advisors, skyscrapers into vertical power stations. Oxford World Gold Council PV has exclusively licensed and is developing its new photovoltaic technology that can be readily incorporated into glass building facades. Based at Begbroke Science Park, Oxford PV’s primary objective is to deliver a massively scalable product for the Building Integrated Photovoltaic (BIPV) market and then, as energy conversion performance improves further, for other high-volume PV applications. The company has exclusively licensed a total of 13 solar cell patents from the University of Oxford. Backed by £7m of equity and grant funding, Oxford PV’s research and development team is moving swiftly towards the manufacture and delivery of larger modules that meet internationally accepted standards and specifications for photovoltaic products.

Key Management Kevin Arthur – Chief Executive Officer and Co-Founder Website www.oxfordpv.com

e: [email protected] w: bvca.co.uk BVCA 15 PassivSystems

Backed by PassivSystems is a provider of intelligent connected energy services for residential homes and businesses, WHEB Partners enabling users to control and optimise energy usage, delivering energy and cost savings. Its smart heating and hot water solutions are designed for busy lifestyles and can be remotely controlled using a smart phone, tablet or PC. PassivSystems’ products connects homes and the heating equipment used in them to a central platform to enable optimisation of energy usage, improve comfort levels and deliver control and guidance in a convenient manner to users. The company currently provides two product lines: PassivPro, which is a software platform for monitoring solar panels and helping to maximise their yields and financial returns; and PassivLiving, a software platform for managing domestic heating and energy costs and consumption, which a PassivSystem’s study shows an average of approximately 23% savings on a customer’s annual heating bill. Founded in 2008 by Colin Calder and headquartered in Newbury, UK, PassivSystems employs 70 staff with a subsidiary in Denmark.

Key Management Colin Calder – Chief Executive Officer and Co-Founder Website www.passivsystems.com

16 BVCA e: [email protected] w: bvca.co.uk Smarter Grid Solutions

Backed by Smarter Grid Solutions is the UK’s leading dedicated smart grid technology company, which originated from Scottish Equity the renowned Institute for Energy and Environment at Partners, the University of Strathclyde, following a joint project Scottish with Scottish and Southern Energy Power Distribution Investment Bank, to establish one of the first commercial smart grids in University of Europe, on the Orkney Islands. Strathclyde Its technology solutions enabled significant new renewable generation capacity to connect to a grid previously considered full. These solutions offered a cheaper and faster alternative to the traditional route of building more grid infrastructure. Smarter Grid Solutions was formed in 2008 to commercialise the intellectual property behind the technology and offer it to power companies facing similar challenges with constrained electricity grids. With offices in Glasgow and London, it now works with a growing number of large power companies and utilities in the UK, mainland Europe and the US, running smart grid projects for both rural and urban electricity grids.

Key Management Alan Gooding – Managing Director and Co-Founder Website www.smartergridsolutions.com

e: [email protected] w: bvca.co.uk BVCA 17 18 BVCA e: [email protected] w: bvca.co.uk Digital & Consumer Digital & Consumer digital & consumer AlexandAlexa

Backed by AlexandAlexa is the global style destination for kids which curates a collection of international fashion MMC Ventures, labels, premium toys and gifts, home and decor goods, Tiger Global sports equipment and clothing, and cutting-edge Management technology products. The site was launched in October 2007 by husband and wife duo Alex Theophanous and Alexa Till. With two children under the age of five, the couple loathed the stress of family shopping trips. In order to access the world’s best kids collections without having to visit a high street, they created an online shopping destination for parents. In 2013, AlexandAlexa organised and sponsored the very first Global Kids Fashion Week in London; strengthened its presence in the Middle East with a dedicated Arabic website; created a new home and decor category; and launched its Life & Style blog with daily articles and features. Six years after launching, the company has exceeded all growth expectations and has a thriving customer base in over 100 countries.

Key Management Alex Theophanous – Chief Executive Officer and Co-Founder Website www.alexandalexa.com

e: [email protected] w: bvca.co.uk BVCA 21 Amplience

Backed by Amplience is a provider of rich media production technology for the ecommerce sector. Its media Northstar Ventures, solutions deliver business growth by providing Octopus Investments, responsively designed websites that work seamlessly Silicon Valley Bank across multiple screens and device, resulting in adaptive multi-channel campaigns delivered from one integrated platform which can be provided as an enterprise solution or as a cloud-based managed service. The Amplience platform, RAMP (or Rich Adaptive Media Platform), provides a full suite of intuitive content management tools for some of the leading global brands, and enables retailers to create and deploy richly interactive content into existing web sites, off-site destinations like Facebook, and into mobile and tablet based devices, including the iPhone and iPad. The London-based business was founded in 2008 and has worked with some of the UK’s biggest brands, including Waitrose, Tesco, Halfords and Marks & Spencer. It opened its first US office in New York in 2013, since which time it has won a number of large clients including L’Oreal and fashion brand Alexander Wang.

Key Management James Brooke – Chief Executive Officer and Co-Founder Website Amplience.com

22 BVCA e: [email protected] w: bvca.co.uk Astley Clarke

Backed by Astley Clarke is an award-winning UK-based luxury jewellery brand, providing jewellery from over 50 Eden Ventures, bespoke brands at its boutique in London W2, at Index Ventures, Harrods, Selfridges and Liberty, and online through Kima Ventures, its UK and US websites. The company sources its Venrex Investment gemstones from all over the world and its expert design Management team draft every piece. Established in 2006 by Bec Astley Clarke, following her experience as a key member of the Tesco.com team, the business has quickly established itself as one of the United Kingdom’s leading online luxury brands. Astley Clarke’s vision is to “celebrate design and preciousness in fine jewellery and to create a brand that represents all that is good and proper about British luxury”.

Key Management Bec Astley Clarke – Managing Director and Founder Website www.astleyclarke.com

e: [email protected] w: bvca.co.uk BVCA 23 Bravo Inns

Backed by Bravo Inns owns and manages pubs in the North West of England. Albion Ventures Led by industry veteran Ken Buckley, the company’s mission is to put the community at the heart of what it does. Bravo believes the pub performs a vital role in community cohesion. Founded in 2007, Bravo acquires closed or rundown pubs in urban areas and transforms them through extensive refurbishment into smart and appealing pubs. It currently manages 34 establishments in North Cheshire, Greater Manchester, Lancashire and Cumbria. Bravo Inns is the successor business to the Bold Pub Company, also headed by Ken Buckley, which acquired 30 pubs from Telford to West Yorkshire, to prove that, properly managed, there is still a place for the community pub. The company was sold in 2007 before Bravo Inns was set-up.

Key Management Ken Buckley – Managing Director and Co-Founder Website www.bravoinns.com

24 BVCA e: [email protected] w: bvca.co.uk The Cambridge Satchel Company

Backed by The Cambridge Satchel Company is a British business that produces high-quality satchels and other leather Index Ventures goods. The business was created in the family kitchen on a budget of just £600 by mother of two Julie Deane, with her own mother Freda Thomas. Determined to source best-quality leather for her satchels from the outset, Deane turned to a traditional UK craftsman to produce her first samples. The brand’s handmade satchels and leather goods quickly won fans around the world and across the generations, as well as positive reviews from early- adopter fashion bloggers. Soon the company’s satchels had become a celebrity ‘must-have’, appealing to catwalk and playground alike. Today, The Cambridge Satchel Company has over 100 employees, with a factory in Leicestershire, and selling to more than 100 countries. The business is looking to strengthen its management team and boost its online presence, as well as expanding into new markets such as China and consolidating existing ones like the US.

Key Management Julie Deane – Managing Director and Founder Website www.cambridgesatchel.com

e: [email protected] w: bvca.co.uk BVCA 25 CrowdControlHQ

Backed by CrowdControlHQ is a Birmingham-based social media risk management and compliance platform built for Finance Birmingham, enterprise. Midven Recognising the ever growing need for organisations to monitor and manage their reputations in social media across multiple platforms, its founders developed a piece of cutting edge software that would allow organisations to ‘plug in’ multiple accounts, whilst working collaboratively across multi-discipline teams. Founded in 2009, CrowdControlHQ is now the UK’s leading social media risk management and compliance platform built for enterprise. Combining cutting edge integrated technology and exceptional customer service, CrowdControlHQ helps brands, organisations and enterprises to protect and grow their reputations online in social media environments. CrowdControlHQ’s philosophy is based on constantly challenging itself to innovate and deliver new features that add value and give organisations the competitive edge in an ever changing social media driven world. Its award winning system is now used by some of the biggest brands, innovative businesses and largest organisations across both the public and private sectors.

Key Management James Leavesley – Chief Executive Officer and Co-Founder Website www.crowdcontrolhq.com

26 BVCA e: [email protected] w: bvca.co.uk Deliveroo

Backed by Founded by William Shu and Greg Orlowski, Deliveroo delivers quality restaurant meals to consumers quickly Hoxton Ventures, and efficiently. It works with a combination of leading Index Ventures independent and chain restaurants to offer consumers an unparalleled end-to-end experience that redefines the home food delivery business. Deliveroo helps restaurants generate additional revenue from existing menus without needing to handle the complexities of logistics or be distracted from serving in-house diners. Since being founded in February 2013, Deliveroo has grown rapidly, adding users, restaurants and drivers at a rapid speed. Restaurants on the Deliveroo platform include Brindisa, Busaba Eathai, Carluccio’s, Cay Tre, Goodlife Diner, Gourmet Burger Kitchen, Princi, Rossopomodoro and Tommi’s Burgers. Restaurant partners have found working with Deliveroo can increase revenues by 10 to 20%.

Key Management William Shu – Chief Executive Officer and Co-Founder Website www.deliveroo.co.uk

e: [email protected] w: bvca.co.uk BVCA 27 farfetch

Backed by farfetch is a global, online marketplace for independent fashion boutiques. It handpicks boutique partners for Advent Venture Partners, their forward-thinking taste and unique viewpoint on Condé Nast International, fashion. Users can shop from any boutique within their e.ventures, network and have their order delivered to their door Index Ventures, direct from the boutique itself. Vitruvian Partners farfetch launched in 2008 and brings together luxury brands from over 250 of the world’s most respected independent fashion boutiques for men and women. The boutiques include storied stalwarts of the industry like L’Eclaireur in Paris and Feathers in London sitting alongside newer stores with a cutting-edge take on fashion like Antwerp’s RA and Berlin’s Voo. With 82,000 highly curated products from over 2000 of the world’s best brands, farfetch currently has 150,000 customers in over 140 countries.

Key Management José Neves – Chief Executive Officer and Founder Website www.farfetch.com

28 BVCA e: [email protected] w: bvca.co.uk Hailo

Backed by Hailo is the evolution of the hail – a free smartphone app which puts people just two taps away from a Accel Partners, licensed taxi, and lets cab drivers get more passengers Atomico Ventures, when they want them. Union Square Ventures, As of September 2013 Hailo has facilitated three million Wellington Partners taxi journeys in London alone. It is estimated that a Londoner gets into a Hailo taxi every seven seconds. Globally the service has 700,000 registered users, and around 42,000 taxi drivers have subscribed to the app, of whom 13,000 in London. Beyond the UK capital, Hailo is available in New York, Dublin, Cork, Galway, Limerick, Toronto, Chicago, Boston, Madrid, Barcelona, Washington DC, Montreal and Osaka. Founded in 2010 by three licensed London taxi drivers and three serial Internet entrepreneurs, the Hailo team includes some of the world’s best mobile platform engineers, with millions of app store downloads to their names and one patented real-time optimisation engine under their belt. They hail from companies like Google, IG Index, WooMe, RealVNC, and eCourier. The team work out of an office on a ship moored on the Thames in central London.

Key Management Jay Bergman – Chief Executive Officer and Co-Founder Website www.hailocab.com

e: [email protected] w: bvca.co.uk BVCA 29 HouseTrip

Backed by HouseTrip is a short-term rental website, where users can find, book or list holiday apartments easily and Accel Partners, securely. Balderton Capital, Index Ventures HouseTrip was founded in 2009 and launched in January 2010 with a vision to make online booking of holiday rentals as easy as booking a hotel and to empower property owners around the world to generate income by offering a more authentic accommodation experience for travellers. There are currently 250,000 properties to choose from in thousands of destinations worldwide, with an average of 3000 new listings added each week. The business is the brainchild of Arnaud Bertrand, President, and Junjun Chen, Chief Financial Officer. The pair met whilst studying hospitality management at the acclaimed Ecole Hôtelière de Lausanne in Switzerland. The company is based in London with offices in Lausanne, Switzerland, and Lisbon, Portugal.

Key Management George Hadjigeorgiou – Chief Executive Officer Website www.housetrip.com

30 BVCA e: [email protected] w: bvca.co.uk Lyst

Backed by Lyst is the world’s largest pure fashion marketplace, founded on the belief that style is personal so Accel Partners, shopping should be too. Lyst’s social commerce Balderton Capital, platform allows consumers to discover items by DFJ Esprit following their favourite brands and people. By personalising fashion e-commerce using the social curation model, Lyst offers its consumers a more effective and engaging way to shop online, while offering its partners a growing sales channel. Every month, over two million of people from 180 countries around the world use Lyst, sending millions of pounds in sales to the hundreds of retailers and brands it partners with worldwide. And Lyst is growing fast – the company grew over 1000% in sales and traffic in 2012. Lyst was founded in 2010 and is headquartered in Shoreditch, London, with an office in SoHo, New York City.

Key Management Chris Morton – Chief Executive Officer and Co-Founder Website www.lyst.com

e: [email protected] w: bvca.co.uk BVCA 31 Masabi

Backed by Masabi is the leader in transit mobile ticketing and payments, delivering end-to-end systems to agencies Fontinalis Partners, that bring significant cost savings and enhanced M8 Capital, customer experience. Its mobile ticketing technology MMC Ventures signals the end of ticket lines, lost tickets and fumbling for cash by allowing passengers to quickly and securely buy and display tickets for travel (principally on trains, boats and buses) through a mobile ticketing application or website, eliminating the need to carry a paper ticket. Masabi also enables transit agencies to move away from capital intensive ‘locked-in’ systems, such as smartcards and costly customised ticket machines, to a flexible, open system that transforms passengers’ travel experience, with plans for near field communication and open payments in the future. Masabi already processes more than US$100 million in ticket sales per year across its systems world-wide and continues to see strong growth. In 2012 the company launched the first system-wide deployment of mobile ticketing in the US for Boston’s MBTA, and its customers now include New York’s Metropolitan Transportation Authority, the Thames Clipper river bus service in London and the San Diego Metropolitan Train System, as well as numerous UK rail operators.

Key Management Ben Whitaker – Chief Executive Officer and Co-Founder Website www.masabi.com

32 BVCA e: [email protected] w: bvca.co.uk MedicAnimal

Backed by MedicAnimal is an online retailer of pet supplies, including food, supplements, medicines and Balderton Capital, accessories with a particular focus on veterinary diets, Iris Capital prescription and non-prescription medicines, and premium-quality products. MedicAnimal.com is registered both as a veterinary dispensary as well as a pharmacy in the UK and offers clients free advice from its in-house team of veterinarians and pharmacists via live chat, email or phone. The site also publishes news and advice related to general animal care and health issues. MedicAnimal. com is the UK’s largest pet health e-tailer, with revenue growth rates exceeding 150% per year since inception. London-based MedicAnimal was founded in October 2007 by Ivan Retzignac and Andrew Bucher. Prior to MedicAnimal, Andrew spent six years as a practising veterinary surgeon in the UK and Australia and Ivan worked for Goldman Sachs in London. The company employs 250 people.

Key Management Ivan Retzignac – Chief Executive Officer and Co-Founder Website medicanimal.com

e: [email protected] w: bvca.co.uk BVCA 33 MOO

Backed by MOO is an award-winning online print business which gives customers the tools to create customised Atlas Venture, print products online and provides cost-effective, Index Ventures, professional quality-end print products. The Accelerator Group Founded in 2004, MOO aims to disrupt the US$100 billion global print industry by combining the values of professional design with the accessibility and reach of the web. Professional design has traditionally been expensive or out of reach for most people. MOO’s mission is make high-quality design work at affordable prices. As a result, MOO prints millions of cards a month and has hundreds of thousands of customers in over 180 countries. The company has won three Webby awards (the web’s Oscars), has been profiled in the Financial Times, and was ranked in the top 10 UK start-up companies by The Guardian. MOO currently employs 90 staff and has offices in London, UK and Rhode Island, USA.

Key Management Richard Moross – Chief Executive Officer and Founder Website www.uk.moo.com

34 BVCA e: [email protected] w: bvca.co.uk MyOptique Group

Backed by MyOptique Group is Europe’s leading online optical retailer selling prescription glasses, sunglasses and Acton Capital Partners, contact lenses. Beringea, Cipio Partners, Launched originally in 2005 as Glasses Direct, an online retailer of prescription glasses, it acquired Sunglasses Highland Capital Partners, Shop, Europe’s largest premium online sunglasses Index Ventures, retailer, in 2011. A year later the group launched Korys, MyOptique.com, a highly curated premium optical Silicon Valley Bank boutique, and also acquired LensOn, the leading online contact lenses retailer in Northern Europe. The company has also developed two leading eyewear brands, London Retro and Scout, which are currently the fastest growing brands on Glasses Direct. In 2013 the Group, in its second year of profitability, launched sunglasses and prescription eyewear on LensOn in the Nordic market, LensOn contact lenses into the UK market, and introduced a new London Retro Collection, titled Metropolitan. It expected to achieve gross retail sales of revenues of over £35 million.

Key Management Kevin Cornils – Chief Executive Officer Website myoptiquegroup.com

e: [email protected] w: bvca.co.uk BVCA 35 notonthehighstreet.com

Backed by notonthehighstreet.com is one of the fastest growing online shopping websites in the UK, offering Fidelity Growth customers a wide range of unique and personalised Partners Europe, gifts and accessories. The company aims to hunt out Greylock Partners, the most original items from the best creative small Index Ventures businesses, and bring them together in one place, making it easy for people to browse and buy. It was founded by entrepreneurs Holly Tucker MBE and Sophie Cornish MBE in 2006 at a kitchen table, and from a small team has grown into a business employing around 120 people. Its network has grown substantially too, from an initial group of 95 creative small businesses to over 3000 which sell over 50,000 products between them. Both Holly and Sophie have won numerous entrepreneurial awards, as has the business itself wich was 12th in the 2013 edition of the Deloitte Technology Fast 50 after achieving revenue growth of 1536% over the last five years.

Key Management Sophie Cornish – Managing Director and Co-Founder Holly Tucker – Managing Director and Co-Founder Website notonthehighstreet.com

36 BVCA e: [email protected] w: bvca.co.uk onefinestay

Backed by onefinestay calls itself the world’s first unhotel, a new category of upscale accommodation which lets visitors Canaan Partners, stay in a distinctive home while the owner is out of Index Ventures, town. PROfounders Capital Founded in 2009 by Greg Marsh, Demetrios Zoppos, Tim Davey and Evan Frank, onefinestay combines the distinctive character of a beautiful private home with a service that offers the convenience and comforts of a high-end hotel. While guests enjoy living like a local, host members benefit by earning additional income from a house or apartment that would otherwise sit vacant. First launched in London, the complete onefinestay service provided to members includes marketing and photography, insurance, cleaning and provision of linens. In May 2010, onefinestay launched in London with just six members’ homes. Three years on, the company has a team of over 200 full-time employees, and manages over 1000 homes in London, representing over 2500 rooms, and has 300 homes in New York.

Key Management Greg Marsh – Chief Executive Officer and Co-Founder Website www.conefinestay.com

e: [email protected] w: bvca.co.uk BVCA 37 PhotoBox

Backed by PhotoBox is Europe’s leading online digital photo service with over 27 million members. Greenspring Associates, Highland Capital Partners, Leveraging its technology, manufacturing, web- Index Ventures, design and merchandising capabilities, PhotoBox gives customers the tools to create a huge range Insight Venture Partners, of personalised gifts and keepsakes, including HarbourVest Partners, professionally bound photo books, personalised cards, Quilvest Ventures personalised wall decor, plus high-quality photo prints and other photo-related merchandise helping them celebrate special occasions and share best loved memories. Since being founded in 2000, the business has expanded across Europe, developed its product portfolio and acquired Moonpig.com, the leader in personalised greeting cards in the UK and of StickyGram, a fast-growing online premium print brand which transforms Instagram photographs into high- quality products. The group recorded annual revenue of £148m in the fiscal year ending April 2013, growing proforma revenue by 16%.

Key Management Stan Laurent – Group President and Chief Executive Officer Website www.photobox.co.uk

38 BVCA e: [email protected] w: bvca.co.uk Qriously

Backed by Accel Partners, Qriously is a service for measuring real-time, location- Amalfi Partners, based public sentiment. The company’s mobile Spark Capital advertising technology poses questions to smartphone users, who by their answers ‘self-select’ the ad that

is subsequently shown to them, enabling advertising agencies, marketers, research companies and small businesses to determine consumers’ preferences and uncover consumer intent, which it then matches with mobile ads. Qriously has created a platform of 300 million consumers globally, including 75 million in the US, in order to run campaigns at scale and in real time. The business has served more than 200 million questions to date, working with top advertisers to measure shifts in brand awareness, consideration, favorability and intent, with campaigns that are generating high engagement rates. Co-Founded in 2010 by Christopher Kahler and Abraham Müller, Qriously is headquartered in both London and New York.

Key Management Christopher Kahler – Chief Executive Officer and Co-Founder Website www.qriously.com

e: [email protected] w: bvca.co.uk BVCA 39 Rated People

Backed by Rated People is the UK’s largest online service connecting homeowners with quality, local tradesmen, Frog Capital, whose reputation is based on reviews and ratings from Western Technology other homeowners in the Rated People community. Investment With over 1 million tradesmen in the UK spending £1.3 billion a year on advertising and market-leading directories publisher Yell estimating that 75% of its business will be digital by 2015, Rated People is transforming the £39 billion home improvement industry. The service is free for homeowners, and over 1.9 million jobs and 350,000 ratings have been posted to date. Over 25,000 tradesmen pay to subscribe to a service that gives them more control, and the potential to earn more money and work closer to home. With nearly 2 million home improvement jobs posted on RatedPeople.com and monthly jobs posted increasing from 18,000 in January 2012 to over 80,000 in July 2013, Rated has grown into the go-to place to find trusted tradesmen in the UK.

Key Management Chris Havemann – Chief Executive Officer Website www.ratedpeople.com

40 BVCA e: [email protected] w: bvca.co.uk Seatwave

Backed by Accel Partners, Seatwave is Europe’s leading online ticket marketplace Atlas Venture, where tickets for concerts, theatre, sports and other Fidelity Growth live events can be bought or sold. It has more than Partners Europe, 3,000,000 tickets on sale at any one time and each and every one is fully guaranteed. HV Holtzbrinck Ventures, Mangrove Capital Launched by Joe Cohen in February 2007, Seatwave Partners was founded in the belief that fans needed a safe and secure way of buying tickets on the secondary market. Traditionally fans have either had to navigate the world of ticket touts or the uncertainty of eBay. Seatwave believes that by creating an open and transparent marketplace, it can help bring down prices in the secondary ticketing market. It aims to ensure that people can buy the tickets they want, when they want them, at the right price, with the very best consumer protection available; or can sell tickets they no longer need in a secure and professional environment.

Key Management Ajay Chowdhury – Chief Executive Officer Joe Cohen – Chairman and Founder Website www.seatwave.com

e: [email protected] w: bvca.co.uk BVCA 41 Secret Escapes

Backed by Secret Escapes is a free-to-join members website, which runs exclusive and ‘best in market’ flash sales of Atlas Venture, four and five-star hotel rooms and holidays worldwide. Index Ventures, The hotels and holidays are handpicked and deals Octopus Investments cover UK country house hotels and cities, luxury European and long-haul breaks as well as flight- inclusive packages. Launched in February 2011 and headed up by Alex Saint and managing director Tom Valentine, the company works with its leading hotel, tour operator and travel agent partners to negotiate outstanding rates for its 2 million+ audience, available through week-long sales. Secret Escapes does not use a voucher service. The company sells actual dates and rooms via a booking engine which means that customers can book their holiday or hotel stay directly on the Secret Escapes website

Key Management Alex Saint – Chief Executive Officer and Co-Founder Website www.secretescapes.com

42 BVCA e: [email protected] w: bvca.co.uk Secretsales

Backed by Launched in 2007 SecretSales has become the UK’s leading flash sales business, employing 80 people and 123Venture, hosting online sales for over 650 designer and lifestyle Connect Ventures, brands to a registered member base of 2.7 million. Doughty Hanson & Co, Launched in 2007, SecretSales distributes excess LSG Holdings, inventory of various luxury branded retail products and Partech Ventures, couples that to a widespread consumer shift towards Pentech Ventures favouring smarter prices. Each day they launch six to ten promotions of luxury brand products at 30-70% off the registered retail price. For suppliers, SecretSales is an effective distribution platform for excess inventory and an effective marketing channel for new and established brands. The company produces bespoke assets for each sale, including product, brand and marketing imagery as well as editorial content. The business operates an innovative inventory management model where it primarily purchases stock ordered by its customers, thereby minimising the held stock position. In the first four months of 2013 the company increased gross sales by 72% year on year, orders by 64% and unique repeat buyers by 70%. SecretSales’ vision is to become the UK’s most effective sales and marketing platform for desirable brands to reach an ABC1 customer base in an exciting, relevant and addictive way.

Key Management Nish Kukadia – Chief Executive Officer and Co-Founder Website www.secretsales.com

e: [email protected] w: bvca.co.uk BVCA 43 Somo

Backed by Somo is the world’s largest independent, full service mobile marketing specialist, with offices in London, MMC Ventures San Francisco, New York and Singapore. Its mission is to help brands make sense of the connected world to build customer engagement, increase sales and be more productive. Somo was founded in 2009 by serial entrepreneurs Nick Hynes and Carl Uminski, previously responsible for Overture Europe (sold to Yahoo! in 2003 for US$1.6 billion) and The Search Works, which became Europe’s largest paid search agency as well as Google’s biggest European customer and was sold to Trade Doubler AB in 2007 for £56 million. Somo has built some of the most innovative and creative products in the market and run some of the most successful campaigns for brands all over the world such as Audi, BP, De Beers and AirAsia Expedia.

Key Management Nick Hynes - Chief Executive Officer and Co-Founder Website www.somoglobal.com

44 BVCA e: [email protected] w: bvca.co.uk Songkick

Backed by Songkick allows users to organise and track their favourite bands and live performances. Index Ventures, Sequoia Capital, Songkick was founded in 2007 by Ian Hogarth, Pete SoftTech VC, Smith, and Michelle You, and works by indexing different ticket vendors, venue websites, and local The Accelerator Group newspapers to create a comprehensive database of upcoming concerts happening around the world. Songkick then pushes this information to users. Users track all the artists they want to see live, and are sent a personalised concert alert when a tour date in their city is announced. Alternatively, users can track artists in bulk with the Songkick iTunes application, Last.fm import, or by importing their Facebook likes. It also has a social component, with the website providing a place to share photos, setlists, or talk to others who were there. Songkick wants to put every single concert or festival that has ever happened online. It has spent a year gathering tour dates from around the web to accumulate over a million past concerts stretching back to the 1960s, and is well on its way to becoming the definitive live music resource online.

Key Management Ian Hogarth – Chief Executive Officer and Co-Founder Website www.songkick.com

e: [email protected] w: bvca.co.uk BVCA 45 SportPursuit

Backed by SportPursuit is the UK’s first ‘flash sale’ sports website, offering members insider access to winning sports DFJ Esprit brands every day, always at unbeatable prices. With over 4000 members, SportPursuit continually scours the globe for the best sports products, securing unbeatable deals on everything from the industry headliners to breakthrough brands and well-kept professional secrets. It offers a broad range of sports essentials, including clothing, footwear, equipment and nutrition for running, cycling, swimming, tennis, rugby, hiking, action sports, snow sports and more. SportPursuit’s sales are only accessible to its community but membership is free and takes seconds to set up. New sales from top sports and outdoor brands start every few days and typically last for a week, and the exclusive members-only site gives brands the confidence to discount.

Key Management Adam Pikett – Chief Executive Officer and Co-Founder Website www.sportpursuit.com

46 BVCA e: [email protected] w: bvca.co.uk Top10.com

Backed by Top10.com is a travel-start-up which evaluates millions of hotel data points - including review scores, Accel Partners, popularity, location and price - to identify the Top 10 Balderton Capital, hotels for customers in any destination in the world. Forward Partners, Instead of having to scroll through hundreds of available Founder Collective, hotels and user reviews, Top10 smartly finds just the Idealab best 10. Top10’s hotel shortlist aggregate content from services like Foursquare and Google Street View to make its results informative and easy to digest. The service also compares live prices from major booking sites including Booking.com, Expedia and LateRooms to ensure customers always get the best price available. This streamlined approach has helped the company grow rapidly over the last 12 months, and it is now driving over US$1million per month in hotel bookings.

Key Management Tom Leathes – Chief Executive Officer and Co-Founder Website www.top10.com

e: [email protected] w: bvca.co.uk BVCA 47 Vita Liberata

Backed by Vita Liberata is a global brand headquartered in Northern Ireland. The company was founded by CEO Broadlake Capital Alyson Hogg in 2003 and is famous for its luxury tanning and skincare collections. In 2007, eager to revolutionise stereotypical views of self-tan, Alyson Hogg created one combining unique skincare benefits, suiting the needs of women on-the- go. Vita Liberata became the brand made by women, for women, with women in mind. The brand has developed numerous proprietary skincare technologies including a Moisture Locking hydration system, Odour Remove™ for zero smell and pHenO2, which creates time release DHA to extend the tan result and is present in their award winning pHenomenal 2-3 Week Tan Collection. Other product USPs include completely non-toxic formulations and the presence of 80% certified organic botanicals. With a development philosophy that champions pure ingredients, innovation and a desire to produce products that ‘actually work’, Vita Liberata has grown at an extraordinary rate and is now used by the world’s top hotels and spas including Burj Al Arab, Four Seasons George V Paris, Viceroy, Ritz Carlton and St. Regis; and is stocked by international retail giants including QVC and Sephora.

Key Management Alyson Hogg – Chief Executive Officer and Co-Founder Website www.vitaliberata.com

48 BVCA e: [email protected] w: bvca.co.uk Wear Inns

Backed by Wear Inns is a County Durham-headquartered business which acquires and manages freehold community pubs Business Growth Fund, in Yorkshire and the North East of England. NVM Private Equity Founded in 2006 by John Weir and John Sands, the estate currently consists of 26 sites, bought from chains such as Mitchells and Butler, Punch, TCG Inns and Barracuda pubs and bars. The pubs are run and staffed by Wear Inns’ employees to ensure a consistent management approach and high levels of customer service without eroding the independent feel and atmosphere. The pubs are predominantly wet-led (they do not sell food) and one of the benefits of being managed rather than tenanted is that the managers have more of a say in the range of products sold.

Key Management John Weir – Chief Executive Officer and Co-Founder Website www.wearinns.co.uk

e: [email protected] w: bvca.co.uk BVCA 49 Wool and the Gang

Backed by Wool and the Gang is a global fashion brand that believes in exceptional design that is handcrafted or Index Ventures, knitted by ‘The Gang’, a team of artisans and makers MMC Ventures, around the world. Wellington Partners Co-founded in 2008 by Central Saint Martins textile design graduates Jade Harwood and Aurelie Popper, who previously worked at Alexander McQueen and Balmain, the company’s vision is to reboot old-style home manufacturing, slashing the time to market for fashion collections from the current standard of six to 12 months to just two to four weeks. Wool and the Gang’s development, designers and warehouses are located in Dalston, East London. The company sells its sustainably made knitwear either as Ready to Wear, hand-crafted pieces made by its global network of makers, or as ‘Knit Kits’, which enable knitters to make their own apparel and accessories.

Key Management Lisa Rodwell – Chief Executive Officer Website www.woolandthegang.com

50 BVCA e: [email protected] w: bvca.co.uk WorldStores

Backed by WorldStores is the UK’s largest online retailer of products for the home and garden. With sales in Balderton Capital, excess of £70 million, it sells everything from beds to Advent Venture Partners, barbeques and sofas to sheds. Serena Capital Unlike other retailers WorldStores does not limit its product selection and is determined to provide customers with the biggest choice of home and garden products anywhere. The number of products offered by WorldStores is more than 15 times greater than that carried by its leading traditional competitors. With over 800 suppliers linked directly into the company’s technology platform, WorldStores is able to offer next- day or day-of-choice delivery on 80% of the goods it sells. With no limits on shelf space, WorldStores leverages its relationships with suppliers to offer an incredible level of customer choice and next day / day of choice delivery options on the vast majority of goods it sells. London-headquartered WorldStores was founded in 2007 by Richard Tucker and Joe Murray. The two have worked together since 1999 when they founded Atmyside, a successful customer service technology provider that was sold to Scandex Group in 2003.

Key Management Richard Tucker – Co-Chief Executive Officer and Co-Founder Joe Murray – Co-Chief Executive Officer and Co-Founderr Website www.worldstores.co.uk

e: [email protected] w: bvca.co.uk BVCA 51 YPlan

Backed by YPlan is a mobile ticketing application currently live on iPhone, iPad and Android that allows users to discover A-Grade Investments, and purchase last-minute event tickets from their General Catalyst device. Partners, Octopus Investments, Brought to you by a team of entertainment experts, the YPlan app compiles a curated shortlist of the best SLOW Ventures Fund, events in town every night and lets users book in just Wellington Partners two taps – no printed tickets, 100% mobile. Since its launch in November 2012, the app has been downloaded over 1,000,000 times and has been used to distribute tickets to over 10,000 events across London, New York, San Francisco, Las Vegas and Edinburgh. YPlan was founded by entrepreneurs Viktoras Jucikas and Rytis Vitkauskas in 2012 and is based in London.

Key Management Viktoras Jucikas – Chief Executive Officer and Founder Website www.yplanapp.com

52 BVCA e: [email protected] w: bvca.co.uk Finance & Business Support

e: [email protected] w: bvca.co.uk BVCA 53 Business Support Finance & finance & business support Acturis

Backed by Acturis provides technology solutions to general insurance brokers, underwriters and affinity networks Summit Partners in the UK and internationally. The Acturis platform automates insurance administration and enables multi- channel implementations as well as electronic trading of commercial and personal lines insurance. The company was founded in late 2000 by Theo Duchen and David McDonald, two former McKinsey partners, and the late Sir Brian Pitman, the former CEO and Chairman of Lloyds TSB. The company’s total focus is on using technology and process innovation to help brokers and insurers in the general insurance industry to achieve radically improved levels of efficiency, productivity and client service. The first brokers traded on the Acturis system in July 2002 and since then more and more brokers and underwriters have moved from UK legacy systems to enjoy the efficiency savings offered by the Acturis system.

Key Management Theo Duchen – Co-Chief Executive Officer and Co-Founder David McDonald – Co-Chief Executive Officer and Co-Founder Website www.acturis.com

e: [email protected] w: bvca.co.uk BVCA 55 Borro

Backed by Borro has revolutionised a traditional industry by becoming the world’s first online asset lender. Augmentum Capital, Canaan Partners, Having positioned itself as the alternative to bank overdrafts and cash from credit card accounts, Borro Eden Ventures, allows private individuals, small business owners, Ribbit Capital entrepreneurs and others to raise finance quickly, easily and conveniently. Borro’s typical loan is between £5,000 and £100,000 although the company can offer loans of up to £1 million. Loans are typically secured against luxury assets including fine art, antiques, prestige cars, watches, diamond jewellery, gold, yachts, fine wine and other high value assets. It provides loans nationwide with a customer base across the whole of the UK. With its online model, Borro is able to increase accessibility and offer customers a discreet, flexible and personal service, allowing them to take out a loan from the comfort of their own home. Borro was founded by CEO Paul Aitken in 2008 and launched in the US in 2012. The company employs over 60 people in offices in London and New York.

Key Management Paul Aitken – Chief Executive Officer and Founder Website www.borro.com

56 BVCA e: [email protected] w: bvca.co.uk Calastone

Backed by Calastone is an innovation business born from the fund industry’s need for an independent transaction Accel Partners, network to drive electronic efficiency. Its award- Octopus Investments winning transaction network removes the barrier to automation providing a unique messaging hub for the funds industry, enabling organisations to electronically connect to each other irrespective of the chosen technology or messaging protocol. Calastone has over 3000 active trading links and 165+ different messaging types and formats supported across its network processing over 1,000,000 messages a month. Since 2007 it has enabled the industry to reduce the cost of electronic transactions by over 60% and increased the industries automation of fund transactions through its interoperable network and service. With an active community of over 400 financial institutions in 17 domiciles including the UK, Ireland, Luxembourg, Hong Kong, Taiwan, Singapore, Australia and Chile, Calastone supports in excess of £14 billion of fund transactions globally each month. The company was in the 2013 fintech 50, a watchlist of the hottest innovators in financial technology, and continues to grow and expand its products and services globally.

Key Management Julien Hammerson – Chief Executive Officer and Chairman Website www.calastone.com

e: [email protected] w: bvca.co.uk BVCA 57 Conversocial

Backed by Conversocial is a developer of social customer service solutions used by companies including Groupon, Hertz, DFJ Esprit, Tesco, and Net-A-Porter. It helps its clients deliver Octopus Investments service through Facebook and Twitter by enabling them to find and respond to real customer issues more effectively, thus decreasing negative sentiment and risk of social crises while saving time and gaining greater customer insight. Conversocial has a team of data scientists continually working to discover ways in which its data, gathered from thousands of social conversations, can be put to work to find solutions for its customers. Founded in 2009 and headquartered in London and New York, the company has established itself in both the UK and US market partnering with customer service teams to boost their efficiency and help capture customer feedback across social channels.

Key Management Joshua Marsh – Chief Executive Officer and Founder Website www.conversocial.com

58 BVCA e: [email protected] w: bvca.co.uk Covalent Software

Backed by Covalent provides software that enables local authorities, and other public bodies, to monitor their YFM Equity Partners performance against targets either set externally or as part of implementing the business strategy. Public sector organisations in the UK are among the most advanced globally in their usage of performance management methodologies and techniques, driven by a regulatory regime that places great emphasis on tracking achievement of performance targets and reporting results to the public. In response, Covalent offers a suite of corporate management applications, including performance, risk, governance and compliance management, which ensure that public bodies improve service performance, track efficiency initiatives, manage resources effectively and execute strategy in line with organisational priorities. The Somerset-based business has customers in the US and Australia with a growing network of partners servicing local markets internationally.

Key Management Peter McHugh – Chief Executive Officer and Founder Website www.ovalentsoftware.com

e: [email protected] w: bvca.co.uk BVCA 59 The Currency Cloud

Backed by Launched to market in 2012, The Currency Cloud is a cloud-based cross currency payments automation Atlas Venture, service that is changing the face of the global foreign Anthemis Group, exchange payments industry. Notion Capital, XAnge Private Equity The service removes the complexity of international payments processing and the inefficiency and costs that are inherent in existing methods of sending and receiving international payments. The Currency Cloud platform was developed and built by an experienced team of foreign exchange professionals, payments experts and technologists. The company delivers its service to over 250,000 corporates and consumers through 100 customers and partners, including remittance, online payments, corporate services (accounting, invoicing, enterprise resource planning), financial services, and e-wallet firms. The Currency Cloud is headquartered in London with a further office in Malta. The business currently employs 26 people. It was recently listed in the Smarta 100 as one of the 100 most innovative and exciting businesses in the UK.

Key Management Michael Laven – Chief Executive Officer Website www.thecurrencycloud.com

60 BVCA e: [email protected] w: bvca.co.uk DueDil

Backed by Launched in April 2011 DueDil has quickly become the largest source of free private company information in Notion Capital, the UK and Ireland. Oak Investment Partners, The London-based business was founded on a firm Passion Capital belief that it should not just be a legal requirement for businesses to share certain types of data; rather it should be seen as an essential part of creating dialogue, building trust, and looking and sounding like a successful 21st century business. The DueDil database consists of over 10 million company profiles and more than 13 million directors. It introduced a subscription service in 2013 and now has over than 50,000 paying customers. Following a new round of investment in March 2014, the business is planning to deepen user engagement through new personalisation, discovery and network tools, as well as expand into new territories. Customers can currently access information on companies and directors in 22 different countries.

Key Management Damian Kimmelman – Chief Executive Officer and Founder Website www.duedil.com

e: [email protected] w: bvca.co.uk BVCA 61 eCommera

Backed by eCommera is an internet services business that offers advisory, support and software services to help retailers Dawn Capital, develop and operate world-class e-commerce, multi- ePlanet, channel businesses. Frog Capital, eCommera’s CoreTrader service is an analytical West Coast Capital, dashboard that helps retailers to understand the drivers WPP of profit and growth in the highly competitive world of online commerce. The company’s CoreCommerce Platform is an e-commerce trading platform delivered over the internet, to enable retailers to act on this information and build profitable online operations. Alongside the core technology platforms, eCommera provides associated online retail consulting services. With offices in Europe, North America and Asia, eCommera powers over 120 retail websites for its clients, including Asda, Clarins and TM Lewin, in more than 27 countries. Following on from the Silicon Valley office opening in 2012, in June 2013 the company acquired OrderDynamics, a leading North American order management system and SaaS business, to offer a complete start-to-finish product offering to retailers.

Key Management Andrew McCgregor – Chief Executive Officer and Co-Founder Website www.ecommera.com

62 BVCA e: [email protected] w: bvca.co.uk EDITD

Backed by EDITD runs the world’s biggest apparel data warehouse, which global and local retailers use to track Atlas Venture, the market, align product assortment and trade with Frog Capital, competitive intelligence. High Line Venture Partners, Geoff Watts and Julia Fowler founded EDITD in London in 2009, and was born out of Julia’s Index Ventures frustration in the lack of provable, factual data to make commercial decisions about fashion and Geoff’s expertise in building technology that exploits big data. EDITD’s software is the market leader in real-time analytics of pricing, assortment, and deep product metrics for apparel professionals in merchandising, buying, trading and strategy. Used by the world’s best fashion retailers, like Gap, ASOS and Target, across five contintents, EDITD helps buyers and merchandisers to make the right trading decisions.

Key Management Geoff Watts – Chief Executive Officer and Co-Founder Website www.editd.com

e: [email protected] w: bvca.co.uk BVCA 63 Funding Circle

Backed by Funding Circle is an online marketplace to help businesses find low cost loans quickly and investors Acel Partners, get better returns. By directly connecting people Index Ventures, who want to invest money with vetted, established Ribbit Capital, businesses who want to borrow money, Funding Union Square Ventures Circle aims to eliminate the cost and complexity of the banking world. Investors can lend as little as £20, the average is £6000, and the average net return is 5.7% after fees and bad debt. There is no minimum investment period and the money can be withdrawn at any time by selling commitments to other investors, which Funding Circle says typically occurs within 24 hours. Businesses can borrow between £5000 and £1 million, and applications can be made online with a decision made within 48 hours. London-based Funding Circle was established in 2010 and since then has seen over 61,000 investors sign-up and has facilitated almost £190m of funding.

Key Management Samir Desai – Chief Executive Officer and Co-Founder Website www.fundingcircle.com

64 BVCA e: [email protected] w: bvca.co.uk Geckoboard

Backed by Geckoboard is a real-time status board that allows businesses to see all their key metrics in one place. 500 Startups, DN Capital, It integrates with many of the online services that businesses already use and summarises these services Index Ventures to distil the key messages and displays these in a way that is easy to understand and interpret. Geckoboard entered private beta in July 2010 and had over 9000 beta signups from small businesses to Fortune 500 companies and government agencies. Bootstrapped until December 2010, Geckoboard has since gone on to raise more than £1.5 million from leading technology investors, both venture capital houses and business angels. Based in Shoreditch, East London, Geckoboard was voted one of London’s 20 hottest start-ups by The Guardian in 2012.

Key Management Paul Joyce – Chief Executive Officer and Co-Founder Website www.geckoboard.com

e: [email protected] w: bvca.co.uk BVCA 65 GoCardless

Backed by GoCardless is a payments platform simplifying online direct debit. Founded in 2011, it already serves more Accel Partners, businesses than any other UK direct debit provider. Balderton Capital, Passion Capital, GoCardless provides a simple, online direct debit management system with instant sign-up. Having Y Combinator built an innovative technology platform on top of the network, GoCardless enables businesses to take and track payments without any of the payments expertise and paperwork required by its direct debit competitors. The company, which has focused on serving subscription services and B2B businesses, and having grown by 700% in 2013, is now processing over US$200 million of transactions per year. Customers range from small charities to national enterprises. Companies such as Greater Anglia Trains use GoCardless to help them manage growing online ticket sales, whilst minimising legacy software costs and administrative overhead.

Key Management Hiroki Takeuchi – Chief Executive Officer and Co-Founder Website www.gocardless.com

66 BVCA e: [email protected] w: bvca.co.uk Interactive Investor

Backed by Interactive Investor (II) is an award-winning, online investment service that provides retail investors with Augmentum Capital, financial information, together with the tools and MMC Ventures, functionality they need to make confident and informed Unicorn Asset investment decisions. Management An FCA-regulated business and member of the London Stock Exchange, II has approximately 1.5 million registered users and over 700,000 monthly unique visitors, who contribute to one of the most engaged and active investor communities in the country – over 600,000 posts are made each year to II’s discussion boards. The company has been at the forefront of offering high-quality trading services with highly-competitive, transparent pricing for nearly a decade and now has one of the most up-to-date, automated trading platforms in the UK. Its many resources include extensive research, news and editorial, investment filters, ready-made portfolio options, an active community and regular alerts. Customers can access their valuations and holdings at all times on the web and via dedicated mobile and tablet apps.

Key Management Adam Seale – Chief Executive Officer Website www.iii.co.uk

e: [email protected] w: bvca.co.uk BVCA 67 Invenias

Backed by Invenias is the world’s fastest growing provider of SaaS solutions to the executive search and strategic MMC Ventures recruitment sector. The company enables organisations to fulfill search assignments more effectively, build stronger relationships with their clients and candidates, and transform the productivity of their operations. Invenias provides easy-to-use desktop and mobile apps, and its Cloud platform removes IT complexity and cost. Based in the UK with offices in New York and Malaysia, Invenias has annual recurring revenues of over US$2 million and 300 customers across 30 countries. Customers include executive search firms such as Norman Broadbent, Odgers Berndtson and Connected Group, private equity firms, such as TPG, and in-house executive recruitment teams at enterprises, such as Wonga.

Key Management David Grundy – Chief Executive Officer and Co-Founder Website www.invenias.com

68 BVCA e: [email protected] w: bvca.co.uk Nutmeg

Backed by Nutmeg is the UK’s first and only online discretionary wealth manager. Armada Investment, Balderton Capital, Nutmeg’s experienced investment team builds and Pentech Ventures manages professional portfolios tailored to customers’ real-life investment goals and aligned to their appetite for risk. Customers can create as many goals as they like, each with a different risk setting, and they can transfer, top-up or withdraw their money whenever they choose. Through the award-winning account interface, they can securely log in to see where their money is invested and how it’s performing at any time. Customers can start with as little as £1,000 (plus £50 per month contributions for portfolios less than £5,000) and pay an annual management fee of just 0.3%-1% including VAT, depending on the size of their investment. The company has grown significantly since its launch in 2012. It now has over 35,000 registered users and customer acquisition in Q1 2014 was 350% up on the same period last year. Nutmeg was founded by Nick Hungerford, a Stanford MBA with a blue chip wealth management background, and William Todd, a financial services software expert who has built derivatives exchanges across Europe and Asia.

Key Management Nick Hungerford – Chief Executive Officer and Co-Founder Website www.nutmeg.com

e: [email protected] w: bvca.co.uk BVCA 69 OpenGamma

Backed by OpenGamma is a leading provider of risk management and analytics solutions, helping financial services firms Accel Partners, evaluate, understand and manage market risk in an Euclid Opportunities, open, transparent manner. Firstmark Capital, The company’s flagship technology, the OpenGamma Icap Platform, provides real-time, cross-asset risk and trading analytics across customized risk scenarios and industry-standard metrics. OpenGamma also develops tools for optimizing performance in the evolving over- the-counter (OTC) markets. Used by both buy-side and sell-side firms, exchanges, CCPs, and other segments of the OTC market, OpenGamma brings a new standard of transparency to the industry, enabling users to gain more insight into their underlying risk exposures, better assess the true costs of trading, and respond more rapidly to the ever- evolving regulatory landscape.

Key Management Kirk Wylie – Executive Chairman and Co-Founder Website www.opengamma.com

70 BVCA e: [email protected] w: bvca.co.uk Qubit

Backed by Qubit is a big data customer experience management platform. Its technology helps the 21st century Balderton Capital, marketer create personalised website experiences to Westminster Growth drive enhanced conversion rates. Capital Qubit’s products collect huge amounts of information about users’ interactions with a website and analyse this to identify patterns of behaviour. They then use this understanding to deliver live personalisation, driving improved conversion rates and increased customer satisfaction. The company’s suite of products brings together visitor analytics, tag management, AB testing and personalisation within a single integrated platform. This allows marketers to optimise and test websites in real time, without the need for specialist IT resource, helping to drive rapid and sustained return on investment. Founded in 2010 by four ex-Googlers, Qubit is headquartered in London with offices in New York. Qubit works with some of the world’s leading ecommerce businesses, including TopShop, Staples, John Lewis, farfetch and Harveys Furniture.

Key Management Graham Cooke – Chief Executive Officer and Co-Founder Website www.qubitproducts.com

e: [email protected] w: bvca.co.uk BVCA 71 RepKnight

Backed by RepKnight is a developer of innovative solutions that monitor and analyse traffic on the web. Invest NI It provides a platform to detect and understand what is being said on the web through social media, forums and RSS feeds in real-time. The tool monitors and alerts the user to spikes in data volumes whilst also pinpointing the geographic locations of the commentary. Sentiment analysis tools can instantly identify the mood of social media posts and tweets, and clients can group positive and negative results and observe overall trends in order to assess the data and make critical market-based business decisions. The platform enables government and commercial analysts to identify threats and emerging events, as well as provide an immediate global or local view of public opinion on key issues. Founded in 2011 by John Reid, RepKnight is based in Belfast.

Key Management John Reid – Chief Executive Officer and Founder Website www.repknight.com

72 BVCA e: [email protected] w: bvca.co.uk ResponseTap

Backed by ResponseTap is a leader in call tracking and analytics, helping brands understand the impact their marketing Beringea, activities are having on inbound calls. Eden Ventures Since 2008, ResponseTap has provided pioneering call tracking services, giving marketing specialists the opportunity to understand which campaigns drive offline phone calls to their businesses. In 2010 it launched its flagship product which combines web analytics and call tracking to bridge the online/offline divide. Existing clients include traditional and digital media agencies, directory companies and businesses of all sizes from SMEs through to large corporate clients. Over 1,500 brands and 500 agencies in the UK alone use ResponseTap’s technology and it now provides analytics on over 1 million calls per month. The business was founded by Ross Fobian and Richard Hamnett, and is headquartered in Manchester, with offices in London and New York.

Key Management Ross Fobian – Chief Executive Officer and Co-Founderr Website www.responsetap.com

e: [email protected] w: bvca.co.uk BVCA 73 Seedcamp SenseLogix

Backed by Seedcamp is an early-stage micro seed investment fund and mentoring programme. It was created to ACT Venture Capital, jumpstart the entrepreneurial community in Europe Balderton Capital, by connecting the next generation developers and Doughty Hanson & Co, entrepreneurs with over 2000 mentors from a top-tier Index Ventures, network of company builders, such as seed investors, serial entrepreneurs, product experts, HR and PR NESTA, specialists, marketers, lawyers, recruiters, journalists Notion Capital, and venture capitalists. Reed Elsevier Ventures, Across the many global Seedcamps spread throughout (and others) the year and the annual week-long forum (Seedcamp Week), Seedcamp brings together EMEA’s top young founders with a world-class network of mentors in one place. This not only provides access to seed funding but also, more importantly, will expose start-ups to the collective experience of people who can help inspire the next generation of technology entrepreneurs. Out of these day-long and week-long events, the door to mentorship is opened. The companies then continue to build those relationships over the months and years ahead. For the winning companies of any event where Seedcamp chooses to make an investment, the standard investment is €50,000 for 8-10% per cent of the company.

Key Management Reshma Sohoni – Partner Carlos Eduardo Espinal – Partner Website www.seedcamp.com

74 BVCA e: [email protected] w: bvca.co.uk SenseLogix

Backed by SenseLogix is a UK provider of intelligent energy management solutions for the commercial, industry, Beringea, education and public sectors. CT Investment Partners, It aims to raise energy awareness, improve energy Northstar Ventures efficiency and eliminate energy waste across a wide range of building environments. The company’s energy management platform, EnergyLogix, includes metering solutions, aM&T (automatic monitoring and targeting) software, energy and carbon reporting tools, PC power management, socket and equipment control, voltage optimisation and renewable generation dashboards, and energy dashboards designed to support behavioural change of energy users – all of which are manageable through a single interface that helps simplify ongoing energy management. SenseLogix was established in 2009 and is headquartered in Cheshire with offices in North Wales and near Darlington. It counts Sir Robert McAlpine, the University of Derby and Wolseley as customers.

Key Management Jonathan Luke – Chief Executive Officer and Co-Founder Website www.senselogix.com

e: [email protected] w: bvca.co.uk BVCA 75 Small World FS

Backed by Small World FS is a payments services provider, offering a secure, fast and inexpensive way to send FF&P Private Equity, and receive money anywhere in the world. MMC Ventures Small World has, through a series of successful acquisitions, become a leader in the European money transfer industry. With over £600 million of transaction volume, the business is the largest independent, and third largest overall, provider of money transfer services in Europe. Headquartered in London, the company operates a pay-in network of more than 60 stores and 1500 agents throughout eight countries, with a payer network in excess of 70,000 outlets in over 85 countries. Small World was founded in 2005 and is based in London.

Key Management Nick Day – Chief Executive Officer Website www.rsmallworldfs.com

76 BVCA e: [email protected] w: bvca.co.uk TransferWise

Backed by TransferWise is a peer-to-peer international money transfer business that allows users to exchange IA Ventures, currency and make foreign payments online while Index Ventures, avoiding the usual fees charged by banks. Kima Ventures, The company’s fees are significantly lower than those Seedcamp, found at banks or other conventional market players, Valar Ventures which often also insist on minimum transfer sums. TransferWise does not set minimum transfer sums and is therefore practicable for smaller sums. It is able to keep its fees low as it swaps the transfer with an equivalent transfer going in the opposite direction, a different practice to that of a bank. The business was started in early 2011, founded by Taavet Hinrikus, Skype’s first employee, and Kristo Käärmann, a data systems specialist at Deloitte and PwC. Initially just transferring Euros and Pounds, the service has grown to include US Dollar, Swiss Franks, Polish Zlotys, Swedish Krona, Danish Krone and more.

Key Management Kristo Käärmann – Chief Executive Officer and Co-Founder Website www.transferwise.com

e: [email protected] w: bvca.co.uk BVCA 77 Wonga

Backed by Wonga is a leading online lender, offering UK consumers small, short-term cash advances with Accel Partners, speed, convenience and flexibility. It allows applicants Balderton Capital, to choose how much cash they want to borrow, up to Dawn Capital, £400, and any length of time up to 30 days. Greylock Partners, Wonga’s innovation is it automation. Its real-time risk Meritech Capital technology processes thousands of pieces of data Partners, to make instant and objective lending decisions in Oak Investment Partners seconds. It was the first company in the world to fully automate the lending process and approved loans are usually paid into bank accounts within minutes. Wonga only lends to people it believes can repay quickly, meaning around two-thirds of first-time applicants are rejected and it has achieved industry-leading low arrears rates. Wonga is the winner of numerous technology and business awards and regularly features in the upper reaches of business league tables such as the Sunday Times Tech Track 100 and Top Track 250 London-based Wonga was in founded 2006 by Errol Damelin and Officer Jonty Hurwitz.

Key Management Andy Haste – Chairman Website www.wonga.com

78 BVCA e: [email protected] w: bvca.co.uk WorldRemit

Backed by WorldRemit is an online money transfer platform that enables migrants and expats to send quick, convenient Accel Partners and low cost payments to families and friends abroad. According to The World Bank US$519 billion of remittance payments were made in 2012, mostly via traditional players such as Western Union and MoneyGram, as well as a number of smaller and informal operators. The majority of these payments are conducted via a network of physical locations, resulting in an inefficient and expensive user experience. WorldRemit, with its online-only, cashless business model, offers a more efficient, affordable and transparent remittance alternative to traditional money transfer operators. Customers can send funds from 35 countries to families and friends in over 100 destinations. Recipients can receive funds via bank deposit, direct transfer to mobile wallets, cash pickup or delivery, as well as airtime top-up for their mobile phones. Founded in 2009 WorldRemit has partnered with leading international banks, mobile operator hubs and mobile money transfer networks including M-PESA, as well as an array of fast, low cost local money transfer networks. The company currently enables more than 1.3 million annualised remittance transactions with the help of over 50 employees and expects to continue its rapid growth in 2014, expanding its staff to 200 employees by the end of the year.

Key Management Ismail Ahmed – Chief Executive Officer and Founder Website www.worldremit.com

e: [email protected] w: bvca.co.uk BVCA 79 Zopa

Backed by Zopa is a peer-to-peer lending service that rewards sensible savers and borrowers by providing lower rate Augmentum Capital, loans and higher interest on savings. Balderton Capital, Zopa offers borrowers competitive low rates and Bessemer Venture flexible terms with no early repayment fees or hidden Partners, charges, plus it is free to get an immediate loan quote Runa Capital, without impacting the user’s credit score. Zopa savers Wellington Partners earn higher returns on their savings by being part of social lending online and helping the UK’s safest borrowers. Since Zopa was founded in 2005 the company has helped savers lend more than £460 million in peer-to- peer loans and has been voted ‘Most Trusted Personal Loan Provider’ in the Moneywise Customer Awards for the past four years. The company has over 45,000 active savers and 71,000 borrowers, and over £28m in interest has been earned by savers since the business launched.

Key Management Giles Andrews – Chief Executive Officer and Co-Founder Website www.uk.zopa.com

80 BVCA e: [email protected] w: bvca.co.uk Information Technology Information Technology information technology Acunu

Backed by Acunu is a data storage specialist which has developed a database infrastructure and analytics Eden Ventures, software package targeting the fast growing ‘Big Data’ Imperial Innovations, market. Big Data is the term for large volumes of data, Oxford Technology including internet and social media generated data Management, which can be difficult to store, extract and analyse Pentech Ventures information from. Acunu forms fast databases on cheap commodity hardware, enabling customers to store Big Data and access it in real-time, significantly cheaper and more effectively than competitors. Customers can also search these databases for useful information and analyse it instantly. This is an active, early-stage market that many analysts expect to grow rapidly over the next two to five years. Acunu has gained some early customer traction in the telecoms and manufacturing sectors. The company was founded in 2009 by Tim Moreton, Chief Technology Officer, and Tom Wilkie, based on a set of algorithms and open source code initially developed at Cambridge University Computer Lab. It is headquartered in London.

Key Management Chris Gomersall – Chief Executive Officer Website www.acunu.com

e: [email protected] w: bvca.co.uk BVCA 83 AlertMe

Backed by AlertMe is an affordable and easy-to-use home monitoring system that puts the user in control of their British Gas, home, helping to save money and reduce their carbon Chrysalix SET, footprint. Good Energies, The AlertMe Home Area Network (HAN) and cloud- Index Ventures, based platform provides two-way communication for VantagePoint Capital real-time monitoring, control, automation and analytics. Partners The platform allows consumers to manage and control a wide range of home activities over the internet and via their smart phone, saving on their energy bills and providing increased efficiency, convenience and comfort. AlertMe also works with new Smart Meters being rolled out by utilities across the world, enhancing and extending the benefits of the Smart Grid to the consumer. Cambridge-based AlertMe was founded in 2006 and in November 2013 was named the third fastest growing company in the country by the Deloitte UK Fast 50, based on five years revenue growth from 2008 to 2012.

Key Management Mary Turner – Chief Executive Officer Website www.alertme.com

84 BVCA e: [email protected] w: bvca.co.uk Aveillant

Backed by Aveillant has developed a groundbreaking 3D Holographic Radar designed specifically as a wind farm Aviation Investment Fund safety issue solution. Company, Cambridge Consultants, A 2011 spin-out from Cambridge Consultants, DFJ Esprit, Aveillant’s 3D Holographic Radar prevents wind turbines from interfering with airport radar. The ESB Novusmodus technology seamlessly integrates with existing airport radar and allows it to distinguish between aircraft and turbines, thus eliminating potentially dangerous clutter from controllers’ screens. In 2009, the unique capability of this Holographic Radar was recognised when successful trials of a small scale system for the MoD led to sponsorship for a proposal to the Department of Energy and Climate Change’s (DECC’s) Aviation Advisory panel. Consequently in 2010, the UK government’s Aviation Management Board selected Holographic Radar as the leading radar in-fill solution, and the Wind Industry offered financial support for its development. In June 2011, Glasgow Prestwick Airport selected Cambridge Consultants to provide the first stage in a radar mitigation system design to solve the problem of interference by wind farms and which paved the way for Aveillant’s spin-out.

Key Management David Crisp – Chief Executive Officer Website www.aveillant.com

e: [email protected] w: bvca.co.uk BVCA 85 CamSemi

Backed by CamSemi is a fabless semiconductor company and an emerging global leader in power management 350 Investment Partners, integrated circuits, enabling more cost-efficient AC/DC DFJ Esprit, offline power conversion. NES Partners, The company’s unique solutions and approach are Scottish Equity Partners helping many of the world’s top electronics brands to develop smaller, lighter and more energy-efficient mains-powered products while also reducing their design timescales, system and manufacturing costs. The company was founded to bring to market a new generation of sophisticated AC/DC power management ICs that help manufacturers more easily meet the world’s increasing demand to save energy but at acceptable cost. CamSemi operates globally from the Cambridge, with application design and business development centres or offices in Taipei, Shenzhen, Hong Kong and Seoul. The company was founded in 2002 as a spin-out from Cambridge University

Key Management David Baillie – Chief Executive Officer Website www.camsemi.com

86 BVCA e: [email protected] w: bvca.co.uk Cyberhawk

Backed by Cyberhawk is the world leading remote aerial industrial

Scottish Enterprise, inspection company. Scottish Equity Partners Over the last five years Livingston-based Cyberhawk has established a leading industrial service that uses ‘flying robots’ to conduct close visual and thermal inspections of industrial assets such as flares, utility transmission towers and wind turbines. Unlike traditional inspection methods using rope access or helicopters, Cyberhawk’s approach means that high value energy infrastructure can be kept operational during inspection – a vital consideration at industrial sites where asset downtime can cost millions of pounds per day. Cyberhawk techniques also deliver significant health and safety benefits. Using flying robots minimises risk by reducing or eliminating the need to work ‘at height’ and limiting the overall project duration. Founded in 2008, the company’s revolutionary products have attracted several blue chip international customers, including SSE, Shell, ExxonMobil, ConocoPhillips, Total, Centrica and Statoil.

Key Management Craig Roberts – Chief Executive Officer Website www.thecyberhawk.com

e: [email protected] w: bvca.co.uk BVCA 87 DisplayLink

Backed by DisplayLink is a technology company that makes it

easy to connect any computing device, such as a Atlas Venture, tablet, laptop or PC, to any type of monitor, using Balderton Capital, standard interfaces such as USB or Wifi. Cipio Partners, Reinventing the way computers talk to multiple DAG Ventures, displays, DisplayLink’s semiconductor and software DFJ Esprit is used in globally branded PC accessories, like wired and wireless USB graphics adapters, universal docking stations, monitors, and zero clients. By simplifying the connection between the device and the desktop, DisplayLink broadens the range of devices that can be easily supported, while also adding other capabilities, such as multiple screen support to enhance enterprise productivity. The Cambridge-based company works with leading computer manufacturers such as HP, Dell, Lenovo, Acer and Asus to build solutions that have been deployed on over 7 million desktops around the world, typically in small, medium and large enterprises. As well as its Cambridge headquarters, the business has additional facilities in Silicon Valley, Poland, Japan and Taiwan.

Key Management Graham O’Keeffe – Chief Executive Officer and Chairman Website www.displaylink.com

88 BVCA e: [email protected] w: bvca.co.uk i-nexus

Backed by i-nexus is a provider of enterprise software aimed at assisting companies to achieve their strategic goals. Bury Fitzwilliam-Lay & Partners, A cloud-based platform, i-nexus provides the ability to Capital for Enterprise, map strategy and define objectives, identify strategic Herald Investment initiatives, manage the portfolio of projects associated Management Ltd, with each initiative, and define and track the impact Meridian Venture of these projects in terms of improved business Partners, process performance. What makes i-nexus different Midven is that it is not just another human resources, project management or business intelligence tool – it is an integrated system in which goals are connected to the KPIs that track their achievement and to the projects that realise them. The company is headquartered in Coventry, with offices in Europe, North America and Asia, and has a client base which includes Philips, Pfizer and Novartis.

Key Management Grant Crow – Chief Executive Officer Website www.i-nexus.com

e: [email protected] w: bvca.co.uk BVCA 89 Intamac Systems

Backed by Intamac is a Northampton-based business which offers monitoring, automation and control services 350 Investment Partners, for the connected home via a cloud-based service Catapult Ventures, management platform. Octopus Investments, Given the improvements in fixed and mobile Seraphim Capital, broadband, Intamac has developed a web-based YFM Equity Partners platform that delivers a wide range of innovative new value-added services through various simple, affordable and self-install wireless products in the home. This enables users to monitor and control services including home security, remote video monitoring, energy saving, care for the elderly and appliance control. The Intamac platform connects these devices in the cloud, and provides consumers with a simple web interface through which they can manage all these devices and deliver innovative new services. Clients include Scottish Power, Securitas and Danish telecoms provider TDC.

Key Management David Perez – Chief Executive Officer Website www.intamac.com

90 BVCA e: [email protected] w: bvca.co.uk Metrasens

Backed by Metrasens is a technology business specialising in metal detection products for the healthcare and C5 Partners, security markets. Octopus Investments Metrasens was founded in June 2005 by two former QinetiQ employees. Its core technology was developed within QinetiQ, with which the business maintains strong links and, as a result, is able to take advantage of over 20 years’ experience at the forefront of magnetics and metal detection technology. Headquartered in Great Malvern in the UK, and with offices in Illinois, US, Metrasens has designed the most portable full-body scan system available worldwide. This is being used in prisons, police operations, police custody suites, embassies, hotels and other commercial venues that require highly sensitive, quickly deployable and portable detection solutions. Metrasens has also developed a product for use in the healthcare market. Through its Ferroguard® brand of MRI safety systems, Metrasens is able to protect patients, staff and equipment in MRI suites across the world.

Key Management Simon Goodyear – Chief Executive Officer and Founder Website www.metrasens.com

e: [email protected] w: bvca.co.uk BVCA 91 miiCard

Backed by miiCard is first Digital Identity Verification service to work entirely online, working within minutes and to the IQ Capital, same level as a physical passport or photo ID check. New Wave Ventures, Par Equity, Through a patented process that leverages the trust between an individual and their financial institution, Scottish Enterprise miiCard establishes identity to Level of Assurance 3+ and meets customer and anti-money laundering identity guidelines, enabling the sale of regulated products and services purely online. Combining online identity proofing with strong authentication, miiCard provides the trust and security required for people and businesses to meet and transact with confidence in a purely digital environment. With coverage across five continents and over 350 million people, miiCard is creating trust online across a range of industries including finance, commerce, trading, gaming, healthcare, recruitment, dating, social and professional networking.

Key Management James Varga – Chief Executive Officer and Founder Website www.miicard.com

92 BVCA e: [email protected] w: bvca.co.uk Mimecast

Backed by Mimecast delivers cloud-based enterprise email management including archiving, discovery, continuity, Dawn Capital, security and policy. Index Ventures, Mimecast’s cloud-based platform extends the Insight Venture Partners capabilities of in-house email systems by incorporating bottomless storage, archiving, eDiscovery, spam/virus protection and continuous availability. By removing the need for several different in-house solutions and extending the life and value of existing Microsoft Exchange and Microsoft Outlook platforms, Mimecast minimises risk and complexity to provide end-to-end control of email at a significantly reduced cost. Founded in 2003, Mimecast today serves more than 8000 customers and two million users worldwide and has offices in Europe, North America, Africa, Australia and the Channel Islands. Its clients include Cineworld, Greater Manchester Fire and Rescue Service, PKF, Bird and Bird and Macmillan Cancer Support

Key Management Peter Bauer – Chief Executive Officer and Co-Founder Website www.mimecast.com

e: [email protected] w: bvca.co.uk BVCA 93 SwiftKey

Backed by SwiftKey is an award-winning keyboard app for smartphones and tablets that learns from users to offer Accel Partners, better auto-corrections and next-word predictions. Index Ventures, Its keyboard app was the top-selling paid app on Octopus Investments Android’s Google Play store in 2012 and the company is now looking to innovate further in the fields of natural language processing and machine learning, enhance its text entry technology and expand its product portfolio into significant new areas. SwiftKey also licenses its technology to several leading OEMs (original equipement manufacturers), including the world’s biggest smartphone manufacturer Samsung. Founded in 2008, SwiftKey has grown revenues five- fold year on year and the company has tripled in size to 100 staff over a 12-month period (as of September 2013), opened offices in Seoul, Beijing and San Francisco and moved to a three-storey headquarters in London.

Key Management Jon Reynolds – Chief Executive Officer and Co-Founder Website www.swiftkey.net

94 BVCA e: [email protected] w: bvca.co.uk TestPlant

Backed by TestPlant is the company behind the eggPlant range, a set of software test tools that enables automated Seraphim Capital functional testing and load testing of any application from mainframe to mobile. eggPlant helps teams get software products to market faster, with higher quality, less effort, and clearer traceability. Easily deployed and sized to minimise the cost of ownership, the eggPlant tools fit the demands of agile software and mobile app development. The London-headquartered business supports over 300 customers in over 30 countries, with operations in North America and Asia. In January 2014 it opened a new office in San Francisco to enable it to enhance its support of many of its key Silicon Valley and West Coast customers, including BMW, Citrix, Google, NBC Universal and Varian Medical Systems.

Key Management George Mackintosh – Chief Executive Officer and Co-Founder Website www.testplant.com

e: [email protected] w: bvca.co.uk BVCA 95 Vickers Energy Group

Backed by Vickers Energy Group designs, installs and maintains energy management systems which regulate Enterprise Ventures, temperature in large commercial premises, typically PHD Equity Partners with open areas such as warehouses and factories. Its ‘smart technology products’ come complete with self-learning predictive programming, ultra-accurate temperature sensors and other energy-saving features and can reduce customers’ energy costs by more than 40%. The company’s clients include Stagecoach, Royal Mail and Boots. Based in Trafford Park, Manchester, Vickers has a dedicated team of over 35 people. Its key product, the ‘Vickers Energy Management System’, has been developed in-house as an intelligent, self-learning system which monitors temperature at various points within the building and controls the heating system to reduce fuel usage. It is the only energy management company to have ever won the Queen’s Award for Environmental Achievement for proven reductions in CO2 emissions. The company plans to double its turnover – from £4m to £8m – in the next three to five years. It has recently won orders in Europe and trials of the products are underway in the USA.

Key Management David Hilton – Group Managing Director Website www.vickers-energy.co.uk

96 BVCA e: [email protected] w: bvca.co.uk Warwick Audio

Backed by Warwick Audio is a UK-based technology company specialising in the development of flat and flexible Finance Wales, loudspeaker (FFL) solutions for original equipment FSE Investor Network, manufacturers. The technology is applicable to Mercia Fund audio applications in multiple fields and is designed Management, for customers developing and manufacturing audio Midven, products for public or personal listening. Warwick’s Minerva Business Angel, technology enables its customers to create products Porton Capital that go way beyond perceived limitations, and their patented technology offers a reliable audio platform whilst facilitating innovative design. The technology was developed by Dr Duncan Billson and Professor David Hutchins following successful research at the University of Warwick, School of Engineering. Warwick Audio Technologies was a spin- out company from the University and was first founded in 2001. The company’s specialist technical engineering and development operation is in South Wales, with a second site in Coventry close to the University of Warwick, where research on the technology continues.

Key Management Duncan Billson – Director and Co-Founder Website www.warwickaudiotech.com

e: [email protected] w: bvca.co.uk BVCA 97 WheelRight

Backed by WheelRight develops and sells advanced remote tyre monitoring equipment, which accurately measures the Calculus Capital pressure within a vehicle’s tyres when the vehicle is driven over a sensor plate. This system, which is effective regardless of vehicle or tyre type, provides fleet operators and motorists with immediate, accurate tyre pressure information delivered by SMS, visual display or directly into a fleet management system. In addition to tyre pressures, the sensor is capable of weighing a vehicle in motion and analysing load distribution. WheelRight was founded in 2004 by John Catling and Michael Taylor and is based in Oxford. The business is based at the Begbrooke Science Park and employs 10 highly qualified engineers. Its technology is used by the commercial vehicle, bus and wider automotive sectors. Current clients in the UK include the bus company Thamesdown and Stagecoach.

Key Management John Catling – Chief Executive Officer and Co-Founder Website www.wheelright.co.uk

98 BVCA e: [email protected] w: bvca.co.uk XMOS

Backed by XMOS is an innovative fabless semiconductor company with its headquarters and development Amadeus Capital activities in Bristol, UK and additional development Partners, facilities in Chennai, India. DFJ Esprit, Foundation Capital, At the heart of its business is the xCORE architecture, a unique technology that delivers a range of flexible, Huawei Technologies, easy-to-use multicore microcontrollers and which Robert Bosch allows engineers to create the exact hardware system Venture Capital, that they need for their application all-in software, Xilinx Technology delivering the next wave in high-performance, real-time, Ventures programmable system-on-chip solutions. XMOS was founded in 2006 as a spin-out from Bristol University. It plans to expand its operations into China with the addition of a new support centre in Shenzhen and is opening a new sales office in Japan. A major increase in field applications engineering support will also see the opening of a sales and support office in Germany plus further expansion in resources across North America.

Key Management Nigel Toon – Chief Executive Officer Website www.xmos.com

e: [email protected] w: bvca.co.uk BVCA 99

Life Sciences life sciences

Life Sciences Ai2

Backed by Ai2 is a UK-based biotechnology company that specialises in novel anti-infective peptide technology SPARK Impact, which combines potent efficacy with excellent safety. MTI Ventures Ai2 is developing this technology for a variety of applications in healthcare and personal care areas. These potential applications for Ai2’s antimicrobial peptide technology include medical devices, advanced wound care, oral care and personal care products among others. The company was founded in 2005 as a spin-out company from the University of Manchester to develop and commercially exploit the anti-infective peptide technology identified by founder Dr Curtis Dobson. Ai2 has focussed on developing the technology in the area of medical devices, in particular ophthalmics. With a licence deal signed for application of Ai2 peptide technology in this area Ai2 is now expanding its focus to other medical device applications and to areas outside the medical device sector including oral care, personal care and advanced wound care.

Key Management Jim McNairney – Chief Executive Officer Website www.a-i-2.com

e: [email protected] w: bvca.co.uk BVCA 103 Aridhia

Backed by Aridhia is an Edinburgh-based health and biomedical

informatics company. Albion Ventures, Scottish Equity Partners Founded in 2008 by successful entrepreneur Dr David Sibbald OBE and Professor Andrew Morris, Dean and Professor of Medicine at the University of Dundee, Aridhia has built a sector-leading, differentiated informatics platform with cutting-edge analytical tools to support health care and research. Aridhia uses big data analytics to understand the relationship between healthcare events and serves two main customer needs: the effective management of chronic diseases today and the shift to stratified medicine in the future, where a patient’s molecular profile is used to tailor preventative measures or treatments based on the likelihood of response to treatment. It has established an international client base and its network of strategic partners includes Pivotal, a leading provider of application and data infrastructure software; and global life sciences company, Life Technologies, with whom Aridhia is collaborating to support the Stratified Medicine Scotland Innovation Centre.

Key Management David Sibbald – Chief Executive Officer and Co-Founder Website www.aridhia.com

104 BVCA e: [email protected] w: bvca.co.uk Atopix

Backed by Oxford-based Atopix is a privately held, clinical-stage, biopharmaceutical company. MPM Capital, Atopix is developing a novel class of anti-allergic SV Life Sciences, medicines to treat a broad range of disease indications Wellington Partners including asthma, allergic rhinitis and atopic dermatitis. The company’s drug programmes target the CRTH2 receptor which plays a pivotal role in the initiation and maintenance of allergic conditions. The company has a pipeline of small molecule drugs, the most advanced of which is in Phase IIb clinical trials, and has demonstrated efficacy in both asthma and allergic rhinoconjunctivitis. One-year safety studies have also been completed showing the molecule to have an excellent safety profile. Atopix owns the rights to develop and commercialise CRTH2 antagonists in all territories except Russia/CIS, where a sister company, Oxagen Limited, has retained the rights.

Key Management Timothy Edwards – Chairman Website www.atopix.com

e: [email protected] w: bvca.co.uk BVCA 105 Autifony Therapeutics

Backed by Autifony Therapeutics aims to develop new drugs to Imperial Innovations, treat hearing disorders using pioneering science. Pfizer Venture Hearing disorders affect a significant proportion of the Investments, population, and while devices such as hearing aids and SV Life Sciences cochlear implants can ease the problems for some, many people continue to suffer. As well as causing social isolation and distress, hearing loss also brings with it a considerable economic cost to society, with increased risk of unemployment, the need for carer support, and other costs. By targeting specific ion channels which regulate neuronal activity within the auditory system, Autifony’s new drugs will help to improve hearing and reduce symptoms associated with hearing loss, such as tinnitus. Autifony was formed in 2011 as a spin-out from GlaxoSmithKline by Charles Large and Giuseppe Alvaro, previously directors in GSK’s Neuroscience Centre of Excellence for Drug Discovery.

Key Management Charles H. Large – Chief Executive Officer and Co-Founder Website www.autifony.com

106 BVCA e: [email protected] w: bvca.co.uk Bicycle Therapeutics

Backed by Bicycle Therapeutics is a Cambridge-based biotech

company developing highly constrained bicyclic Astellas Venture peptides (‘bicycles’) as a novel class of therapeutic. Management, ‘Bicycles’ have the affinity and specificity associated Atlas Venture, with antibodies, but are much smaller in size and Novartis Venture Funds, can be chemically synthesised. They have been SR One, shown to address targets not easily tractable with SV Life Sciences small molecules (eg protein–protein interactions).The company is exploring applications in a number of areas where these advantageous features have the potential to show significant benefit, namely oncology. Bicycle Therapeutics is seeking to realise the full potential of Bicycle technology by developing an internal pipeline, as well as allowing partners access to the technology platform through selected R&D collaborations. The company was founded in 2009 as a spin-out of the Medical Research Council Laboratory of Molecular Biology in Cambridge, based on work of the founders Professor Sir Gregory Winter and Professor Christian Heinis. Sir Gregory is a highly successful serial entrepreneur having founded Cambridge Antibody (sold to AZ for £1.1 billion) and Domantis (sold to GSK for £450 million).

Key Management Rolf Gunther – Chief Executive Officer Website www.bicycletherapeutics.com

e: [email protected] w: bvca.co.uk BVCA 107 Fusion Antibodies

Backed by Fusion Antibodies is a biotechnology discovery

company in the therapeutics antibodies market, Clarendon Fund developing antibodies that preferentially target Managers, cancerous cells using dual therapy and angiogenesis Crescent Capital, mechanisms of attack. Invest NI, Fusion’s DNA sequencing technology can assist in the QUBIS development of novel biological molecules that may be used as innovative drugs for human diseases including cancer, coeliac disease, chronic fungal infections and immunological indications. The company offers expertise that can help to accelerate the development of human drugs from programmes carried out by researchers in international pharmaceutical organisations and university labs. Fusion is now focusing its resources on its humanisation service and is strengthening its relationships with existing and potential research organisations such as Isca Diagnostics, a University of Exeter spin-out business that is developing diagnostic tests, and Switzerland’s Calypso Biotech, a drug research company which develops drugs for inflammatory bowel conditions. The business is a spin-out from Queen’s University, Belfast, and currently employs ten people in its labs at Springbank Industrial Estate, near Lisburn.

Key Management Paul Kerr – Managing Director Website www.fusionantibodies.com

108 BVCA e: [email protected] w: bvca.co.uk Karus Therapeutics

Backed by Karus Therapeutics is a leader in the development of

innovative medicines that have breakthrough potential Esperante Ventures, in treating inflammatory disease and cancer. IP Group, New Leaf Venture Karus operates an outsourced business model: Partners, retaining drug design, experimental chemistry and in vitro biology research in-house, whilst outsourcing a Novo Ventures, significant proportion of its R&D activities to a network SV Life Sciences of internationally-recognised CROs (contract research organisations). This approach has allowed Karus to remain capital efficient and flexible whilst advancing multiple R&D programmes through key value inflection points. The company is focused on the development of two clinic-tracked programmes, potent and selective inhibitors of PI3K and HDAC, with a primary focus on the treatment of inflammatory disease. Karus is also exploring the potential of these PI3K and HDAC inhibitors as new classes of targeted cancer therapies. Oxford-based Karus Therapeutics is a spin-out from the University of Southampton and led by a strong management team with considerable experience of building, developing and partnering therapeutic assets in Europe and North America.

Key Management Simon Kerry – Chief Executive Officer Website www.karustherapeutics.com

e: [email protected] w: bvca.co.uk BVCA 109 Molplex

Backed by Molplex is a pharmaceutical company which uses SPARK Impact highly automated decision-making systems to identify new treatments for infection, cancer and other serious diseases. Combining research into chemistry prediction software with cloud computing, integrated with assay-ready chemical supply from screening collections and biochemical screening services, it aims to eliminate the high set-up costs and increase the rate of success in drug discovery projects. Its pipeline of small-molecule therapeutics is driven by a proprietary platform for drug optimisation, Optiplex, a highly scalable system combined with the latest in laboratory automation, delivering safer and more effective drugs. Macclesfield-based Molplex was founded in 2010 by David Leahy, a veteran of over 25 years in drug discovery and development, and Vladimir Sykora, an expert in drug discovery software.

Key Management David Leahy – Chief Executive Officer and Co-Founder Website www.molplex.com

110 BVCA e: [email protected] w: bvca.co.uk Orla Protein Technologies

Backed by Based in Newcastle’s International Centre for Life,

Protein Technologies has successfully patented, NEL Fund Managers developed and commercialised new protein-based biosurface engineering concepts that are used in a range of scientific and laboratory-based research applications. The Orla technology is based on groundbreaking research undertaken by Professor Jeremy Lakey of Newcastle University, co-founder and Scientific Director of the company. Orla’s biosurface technologies are applied to three main areas: protein design and manufacture for biosurface use; animal-free growth surfaces for mammalian cell culture; and protein kits for analytical biochips. For example, scientists working in stem cell research, as well as other cell cultures, use Orla protein products as microscopic surfaces on which the cells are grown and maintained. Orla also has a joint-venture company, OJ Bio, in partnership with Japan Radio, developing mobile diagnostic technology.

Key Management Dr Dale Athey – Chief Executive Officer Website www.orlaproteins.com

e: [email protected] w: bvca.co.uk BVCA 111 112 BVCA e: [email protected] w: bvca.co.uk Materials

e: [email protected] w: bvca.co.uk BVCA 113 Materials materials Carbon Air

Backed by Carbon Air is a University of Salford spin-out company

developing a range of new noise-proofing, audio Enterprise Ventures and air spring technologies to the automotive, HGV, architectural and rail markets. The company’s expertise lies in its capacity to characterise the behaviour of a range of materials with unusual properties, particularly in their ability make small spaces behave like larger ones. Based at the Salford Innovation Forum, the business works with activated carbon, a substance commonly found in water and air purifiers but that also possesses unique acoustic and sound suppressing properties which Carbon Air is looking to harness. These same qualities also mean it can be used to produce lighter and more efficient spring technology for use in the transportation industry.

Key Management John Coakley – Managing Director Website wwww.carbonair.eu

e: [email protected] w: bvca.co.uk BVCA 115 Carlton Manufacturing

Backed by Carlton Manufacturing is a South Yorkshire- based developer and manufacturer of sustainable Enterprise Ventures, construction materials, such as cement and mortar Finance Yorkshire mix. Carlton Manufacturing was founded in 2011 by entrepreneur Max Smith together with his brother Guy and Chris Blaxall. Its products are made using primarily recycled or reclaimed materials in their construction, and seeks to reduce the use of any virgin natural resource where possible, finding eco-friendly replacements without affecting the functionality of the products. Since a £1.2 million funding package in 2012, Carlton moved to larger premises in Rotherham and radically changed its manufacturing process with the purchase of Europe’s newest, state-of-the-art, automated bagging and palletising equipment. Production times have been slashed by 99%. The first pallet of ready mixed concrete took just seven minutes to produce, compared to ten hours previously. Carlton’s sales have been growing at a rate of 25% per month, and the company increased its headcount from a standing start to more than 20 over 12 months (as of September 2013).

Key Management Max Smith – Managing Director and Founder Website www.carltonmanufacturing.co.uk

116 BVCA e: [email protected] w: bvca.co.uk Deep Casing Tools

Backed by Aberdeen-based Deep Casing Tools designs and manufactures advanced casing and completion tools CCM Partners, for the oil and gas and geothermal industries. Energy Ventures, Scottish Equity Partners The company reduces the cost and risk of well construction through its innovative technology, designed to land casing and completions at target depth reliably and with significant cost savings compared to conventional methods. Deep Casing Tools’ reaming and unique drill through technology provides significant time and cost savings when compared to conventional methods. With the new ability to ream while running in, the casing can be run sooner while the hole is in best condition, eliminating wiper trips and open hole exposure time.

Key Management Lance Davies – Chief Executive Officer Website www.deepcasingtools.com

e: [email protected] w: bvca.co.uk BVCA 117 FDM Digital Solutions

Backed by FDM Digital Solutions is a Burnley-based company which is pioneering the use of 3D printing to produce Enterprise Ventures, made-to-measure insoles for the NHS. Rosebud Fund Using the system being developed by FDM Digital, hospitals will be able to scan a patient’s foot shape and email it to the company, which will then print and deliver insoles to the exact specification within as little as 48 hours. The process will replace the traditional hand-made techniques and could revolutionise the way the NHS buys orthotics and other products. In addition to its work in the medical sector, FDM Digital manufactures components for the aerospace, engineering, automotive and motor sports industries. It has already won grants totalling almost £1 million from the Technology Strategy Board and Engineering and Physical Science Research Council (EPSRC) to help them develop the supply chain. The company was established in 2011 by James Saunders, who has a background in operations management within the advanced materials sector, and Graeme Bond, who has over 10 years’ experience of 3D print techniques.

Key Management James Saunders – Director and Co-Founder Website www.fdmdigitalsolutions.co.uk

118 BVCA e: [email protected] w: bvca.co.uk Metalysis

Backed by Metalysis is transforming the way metals, rare earth metals and alloys will be produced in the future. BHP Billiton, Chord Capital, Metalysis has developed a way to produce high value metal powders directly from metal oxides in a single DFJ Esprit, step using electrolysis. The process dramatically Environmental reduces the costs of production opening up new Technologies Fund, markets for advanced manufacturing including 3D Seven Spires metal printing. Investments The Metalysis process works by introducing metal oxides into a molten salt bath where it is electrolysed to form metal powders. This also has numerous environmental advantages over traditional methods which involve toxic materials. The company is initially focusing on the production of tantalum, which is used in consumer electronics and aerospace applications, and titanium powders, as its lower cost could increase adoption by the automotive, petro-chemical and construction industries. Founded in 2002 as a spin-out from Cambridge University, Metalysis has been based in Rotherham since 2004.

Key Management Dion Vaughan – Chief Executive Officer Website www.metalysis.com

e: [email protected] w: bvca.co.uk BVCA 119 Pyreos

Backed by Pyreos is a developer of passive infrared sensors based at the Scottish Microelectronics Centre in Robert Bosch Venture Edinburgh. Capital, Scottish Investment Pyreos’ core technology, infrared sensors based Bank, on thin films of pyroelectric lead zirconate titanante (PZT) material, was initially developed at the German Seraphim Capital, engineering giant Siemens. Siemens Technology Accelerator The company has focused largely on industrial markets for applications such as gas sensing, but the company sees a huge and growing opportunity in more consumer-oriented uses like gesture and proximity control sensors in smart phones and tablets, while medical applications in breath analysis are also possible. It has developed a dual-function gesture and proximity sensor which consume only microwatts of power, meaning that they are several orders of magnitude more energy efficient than competing technologies and thus suitable for consumer handsets. Headquartered in Edinburgh and a spin-out of Siemens STA in 2007, Pyreos supplies IR sensor components and solutions to a global customer base. With 90% export sales, the company has sales offices in the USA and China, whilst expanding its sales channels in Brazil, India and Asia.

Key Management Rob Baxter – Chief Executive Officer Website www.pyreos.com

120 BVCA e: [email protected] w: bvca.co.uk Media media

Media The Business of Fashion

Backed by The Business of Fashion has gained a global following as an essential daily resource for fashion creatives, Advancit Capital, executives and entrepreneurs in over 200 countries. Index Ventures, Founded in 2007 by Imran Amed, a fashion business LVMH Moët Hennessy- adviser, writer and digital entrepreneur, The Business of Louis Vuitton, Fashion began as a project of passion, aiming to fill the Novel TMT Ventures, void for an informed, analytical and opinionated point of Samos Investments view on the fashion business. Today the website has grown to leverage a network of savvy writers and fashion insiders in style capitals around the world, delivering fashion business intelligence on emerging designers, disruptive technologies and global brands that are making their mark on the industry at a time of unprecedented change.

Key Management Imran Amed – Chief Executive Officer and Founder Website www.businessoffashion.com

e: [email protected] w: bvca.co.uk BVCA 123 Lineup

Backed by Lineup is a multi-channel advertising and media software business. Spun-out from the IT department NVM Private Equity at Metro International in 2010, London-based Lineup delivers collaborative advertising sales tools designed specifically for multichannel media companies, created and implemented by industry experts in print, digital and broadcast. Lineup’s software has been created and implemented by a team drawn from a variety of international advertising backgrounds, representative of the print, digital and broadcast channels that are now supported. Lineup’s products, including AdPoint and AdMount, are web-based, which means they can be hosted, cloud- based, or locally installed. It now has installations in 33 countries and supports more than 2500 users in 21 languages. Since 2002 its web-based systems have generated more than £10 billion for over 1000 titles, sites and stations globally. Its clients include Metro International, News UK, Telegraaf Media Groep, Time Out London, Time Out New York, Archant, Village Voice Media Holdings, and Abu Dhabi Media Company.

Key Management Michael Mendoza – Chief Executive Officer Website www.lineup.com

124 BVCA e: [email protected] w: bvca.co.uk Mind Candy

Backed by Mind Candy is a global entertainment company that creates extraordinary brands with online games at Accel Partners, their heart. Index Ventures, The company is best known as the creator of the SPARK Ventures global franchise, Moshi Monsters, the online world of adoptable pet monsters for boys and girls aged 6-12. Launched in 2008 it now has 80 million registered users online and a successful product range including bestselling toys, the number one selling kids magazine in the UK, video games, books, music, films, cartoons and more. Based in Shoreditch, the company was founded in 2004 by Michael Acton Smith OBE, co-founder of online gift retailer firebox.com. Mind Candy’s first effort was an alternate reality game called Perplex City. Critically acclaimed but with a niche audience, it was the launch of Moshi Monsters which established the company as one of the leading names in the UK digital space.

Key Management Michael Acton Smith – Co-Founder Website www.mindcandy.com

e: [email protected] w: bvca.co.uk BVCA 125 Rockabox

Backed by Rockabox’s technology helps brands engage consumers through online video content. Their Fourteen17, market-defining Shutters™ video ad format delivers Frog Capital, substantially better engagement and content Notion Capital monetisation, whilst improving the consumer viewing experience. Founded in 2008 by technology entrepreneur James Booth and TV executive Torie Chilcott, Rockabox is one of a new breed of companies that understands the rapidly evolving media landscape, where online video is exploding and the boundaries between TV, online and mobile are becoming increasingly blurred. Rockabox’s cloud-based technology suite includes intuitive, self-service tools for constructing, analysing, planning and tracking campaigns and ecommerce activity across an online distribution network with over 400 million monthly unique visitors.

Key Management James Booth – Group Chief Executive Officer and Co-Founder Website www.rockabox.com

126 BVCA e: [email protected] w: bvca.co.uk Skimlinks

Backed by Skimlinks launched in December 2008 with the aim of

helping publishers monetise their content seamlessly 500 Startups, and easily. By aggregating and automating the process Bertelsmann Digital of creating affiliate links, Skimlinks is transforming Media Investments, affiliate marketing into a ubiquitous and mainstream Greycroft Partners, revenue model for a wide diversity of publishers. NESTA, The London-based business was founded in 2006, Sussex Place Ventures, initially as Skimbits, a social decision-making business. The Accelerator Group, In order to earn more money from the site the team Venrex Investment turned to affiliate marketing but found it was more Management time-efficient to develop a technology to automate the process to give more time to grow the business. The software was so successful it launched in 2008 as Skimlinks, and it now generates 1.5 billion page impressions every month and aggregates more than 17,000 merchants across 20 networks internationally.

Key Management Alicia Navarro – Chief Executive Officer and Co-Founder Website www.skimlinks.com

e: [email protected] w: bvca.co.uk BVCA 127 Unruly

Backed by Unruly is a video technology company that works with

top brands and their agencies to predict the emotional Amadeus Capital impact of their videos and get them watched, tracked Partners, and shared across paid, owned and earned media. It Business Growth Fund, uses its proprietary technology to turn target audiences Van den Ende & into engaged viewers, and engaged viewers into Deitmers customers and advocates. Brands use their social analytics dashboard to benchmark their content, outsmart the competition and demonstrate superior return on investment. With an engaged audience of 978 million consumers, across the full range of mobile, tablet and second screen devices, Unruly has delivered, tracked and audited 2.8 billion video views across 2500+ social video campaigns for over 400 brands including Coca-Cola, T-Mobile, Volkswagen, Microsoft, Warner Brothers and adidas. The company has worked with 60% of Interbrand’s Top 100 Best Global Brands and its mission is to deliver the best social video advertising campaigns on the planet. Founded in 2006 by Scott Button, Matthew Cooke and Sarah Wood, Unruly has 11 offices and employs over 125 people around the world.

Key Management Scott Button – Chief Executive Officer and Co-Founder Website www.unrulymedia.com

128 BVCA e: [email protected] w: bvca.co.uk Medical medical

Medical ADC Biotechnology

Backed by ADC Biotechnology is developing new technology to

speed, simplify and significantly lower the costs of the Finance Wales conjugation process to produce new antibody drug conjugate (ADC)-based anti-cancer drugs. With surging numbers of ‘second generation’ drugs in development (currently around 200), tumour- selective ADCs are building a significant position in the oncology field, the fastest growing sector in healthcare. ADC Biotechnology’s technology aims to become a new paradigm in the way ADCs are developed and manufactured, increasing accessibility for patients by helping to contain ADC production complexity and cost. ADC Bio’s patented Lock-Release technology results in fast, simple and robust conjugation processes, with the potential to eliminate several process steps whilst enhancing product quality. Based in St Asaph, North Wales, the company was formed in September 2010 as a spin-out from pharma purification technologies company Reaxa.

Key Management Charlie Johnson – Chief Executive Officer Website www.adcbio.com

e: [email protected] w: bvca.co.uk BVCA 131 Atlas

Backed by Atlas is an innovative UK-based diagnostics company providing in vitro point-of-care (POC) testing. Its focus BB Biotech, is on diseases such as sexually transmitted infections Consort Medical, (STIs), neonatal sepsis and hospital-acquired infections, Johnson & Johnson particularly MRSA, where rapid diagnosis is essential Development Corporation, for effective treatment and control. LSP, Bath-based Atlas has developed the ultra-rapid ‘io’ Novartis Venture Funds, diagnostic platform, a multi-assay system that uses YFM Equity Partners disposable cartridges in conjunction with a small, low- cost instrument. This makes it particularly suitable for a wide range of POC settings, including doctors’ offices, community clinics and specialist primary care clinics. By moving diagnostics to POC, Atlas’ platform can reduce the time between obtaining a patient sample to treatment from up to ten days to under 30 minutes. Early and rapid diagnosis of disease in the POC environment ensures the best treatment options are available and POC diagnostics are increasingly recognised as an essential component of more effective primary care. The company was founded in 2005 as a spin-out from the University of Bath and the US-based diagnostics business, Osmetech.

Key Management John Clarkson – Chief Executive Officer Website www.atlasgenetics.com

132 BVCA e: [email protected] w: bvca.co.uk Bioxydyn

Backed by Bioxydyn is an imaging CRO (contract research organisation), delivering high-quality imaging biomarker MTI Partners, readouts, services and customer support to enhance SPARK Impact clinical trials. It has developed technology used in conjunction with an MRI scan to produce better quality images, particularly of the lungs. With millions of people worldwide affected by chronic lung conditions such as chronic obstructive pulmonary disease (COPD) and asthma, better imaging can mean earlier, more accurate diagnosis and improved patient monitoring. Bioxydyn has developed rigorous processes and analysis tools to be used with standard MRI equipment, enabling straightforward access to any imaging facility and patient population. Its approach provides unique and high-value readouts, enabling richer information and shorter trial duration and reducing overall costs. Established in 2010, the Manchester Science Parks- based company is a spin-out from the University of Manchester and of UMIP’s proof-of-principle (PoP) programme.

Key Management Geoff Parker – Chief Executive Officer and Founder Website www. bioxydyn.com

e: [email protected] w: bvca.co.uk BVCA 133 Breaking Free Group

Backed by Breaking Free Group is a pioneering digital healthcare provider with offices in Birmingham and Manchester. Midven Created by a team of clinical psychologists and substance misuse experts, its flagship product, Breaking Free Online, is an internet-based treatment programme currently focused on problem drinking and drug use. The programme has been proven to reduce substance dependency, improve mood, reduce anxiety and improve quality of life in a range of treatment settings. Breaking Free Online has already been commissioned by over 60 local authorities and NHS Trusts and received expressions of interest from a number of overseas markets. A new ‘Health and Justice’ product has also recently been developed specifically for use in prisons. This has been commissioned by NHS England for the Gateways project, an important Ministry of Justice initiative in ten prisons in North West England that is aiming to reduce reoffending rates. It is believed to be the first digital healthcare intervention worldwide within the prison environment.

Key Management Dr Jonathan Ward – Chief Executive Officer and Founder Website www.breakingfreegroup.com

134 BVCA e: [email protected] w: bvca.co.uk Cellnovo

Backed by Cellnovo is a medical device company developing a

wireless touch-screen insulin micro-pump system for Advent Venture Partners, type 1 diabetics. Auriga Partners, Omnes Capital, By combining mobile technologies with advanced medical systems Cellnovo has developed a new, Edmond de Rothschild connected approach to treating diabetes that aims to Investment Partners, reduce the burden of diabetes management while also Forbion Capital Partners, simplifying the achievement of diabetic control. HealthCare Ventures, The Cellnovo system has three core parts. The first is NBGI Private Equity, a highly-accurate, slim and discreet insulin pump that NESTA also features an integrated activity monitor to track and record exercise. The pump connects wirelessly to an app-based touch-screen handset, which is the second part, and the brain of the system. The handset features an integral blood glucose monitor and a mobile data connection to the third part of the system: a comprehensive and secure web-based clinical management tool. The handset automatically records insulin dose, exercise and blood glucose while also capturing diet information. All this is achieved in real time, and is immediately delivered to the clinic over a secure mobile web connection. Established in 2002, the company is based in Swansea.

Key Management Eric Beard – Executive Chairman Website www.cellnovo.com

e: [email protected] w: bvca.co.uk BVCA 135 Creo Medical

Backed by Creo Medical is a medical devices company that

specialises in microwave and radio frequency Finance Wales technology for precise tissue resection and coagulation. It has developed that CRoMa system, which promises safe, precise and cost-effective treatment of pre- cancerous lesions in the bowel. The first version to be launched aids the fight against bowel cancer, facilitating the endoscopic removal of early stage lesions from the bowel where current treatment options are limited. The Creo technology is an ideal complement to the expanding bowel cancer screening programme targeting earlier diagnosis. The company operates from its headquarters in Chepstow, South Wales where an R&D and controlled manufacturing area have been installed. State-of- the-art microwave test and measurement equipment enables novel development work to be undertaken. Creo also enjoys interaction with key departments at several leading universities that accommodate microbiological testing, study of the chemical species associated with non-thermal plasma, microwave modelling and clinical studies.

Key Management Craig Gulliford – Chief Executive Officer Website www.creomedical.com

136 BVCA e: [email protected] w: bvca.co.uk Diurnal

Backed by Diurnal is an innovative pharmaceutical company

that creates high-value hormone therapeutics using Finance Wales, proprietary formulations and novel physiological Fusion IP, treatment regimes of approved drugs. Sarum Partners, Based in Cardiff, Diurnal addresses the major unmet Viking Fund clinical and patient needs for hormone replacement treatments by creating more effective products for life-long treatment for the chronic conditions: adrenal insufficiency, rheumatoid arthritis, hypogonadism, and hypothyroidism. Diurnal’s approach in utilising only drugs that have been approved and its well established safety and efficacy profile enables it to judiciously focus on optimising therapeutic performance, principally by altering the drug delivery modality and treatment regimes. This approach also enables Diurnal to significantly de-risk the development programme and avoid the need for the substantial and costly commitment to pre-clinical development prior to proof-of-concept evaluation.

Key Management Martin Whitaker – Chief Executive Officer Website www.diurnal.co.uk

e: [email protected] w: bvca.co.uk BVCA 137 Endomagnetics

Backed by Endomagnetics is developing a portfolio of medical

device products based on a patented ability to detect New Wave Ventures, magnetic materials in the human body with exceptional Sarum Capital, sensitivity. Sussex Place Ventures, The company’s SentiMag and Sienna+ device system UCL Business was developed to increase access to the standard of care in breast cancer staging by providing an alternative approach to locating sentinel lymph nodes. Endomagnetics is also developing a pipeline of associated devices that improve the standard of breast cancer management along with extending the reach of SLNB (sentinel lymph node biopsy) for other cancers. In 2012, the company was awarded funding by the Medical Research Council (MRC) and the Technology Strategy Board to explore the clinical feasibility of using the SentiMag system in the treatment of melanoma. The company’s core technology was originally developed at University College London and the University of Houston. It is based in Cambridge, and started sales in the European market in 2012. In February 2013, Endomagnetics announced it was signing a strategic distribution agreement with Sysmex Europe to provide sales and support for the SentiMag system across the EMEA region.

Key Management Dr Eric Mayes – Chief Executive Officer Website www.endomagnetics.com

138 BVCA e: [email protected] w: bvca.co.uk GlySure

Backed by GlySure is a developer of in-hospital continuous blood

glucose monitoring (CBGM) systems. Amadeus Capital Partners, Glucose levels can change unpredictably, and safe Delta Partners, implementation of tight glycaemic control (TGC) Morningside requires rapid sampling of blood glucose levels to ensure the patient stays in the target range. Hospitals lack the resources to perform glucose measurements with the frequency required, resulting in a high level of customer demand, including over a dozen published calls for CBGM by key opinion leaders in critical care journals. GlySure’s team of scientists and engineers has developed a CBGM system using a proprietary optical fluorescence sensor to meet the US$2 billion-plus worldwide demand for implementation of TGC in the hospital Intensive Care Unit (ICU). The company has demonstrated highly accurate sensors that meet market requirements through clinical testing on over 140 ICU patients. GlySure was founded in 2006, is based in Abingdon, and has 30 employees.

Key Management Christopher Jones – Chief Executive Officer Website www.glysure.com

e: [email protected] w: bvca.co.uk BVCA 139 HeartSine Technologies

Backed by HeartSine Technologies is a Belfast-based pioneer ACT Ventures, of defibrillator technology, providing technologically advanced, easy-to-use, affordable defibrillators for Enterprise Equity, home and public access markets. Invest Northern Ireland The business, a spin-out from the University of Ulster, is active in over 70 countries worldwide in a wide range of environments, including commercial aircraft, military and shipping facilities, manufacturing plants, corporate and government offices, schools and sports clubs. Its flagship product, the samaritan® public access defibrillator (PAD), is a world leader, designed for use by rescuers of all skill levels. In July 2014 Enterprise, Trade and Investment Minister Arlene Foster opened HeartSine’s new offices in Belfast and announced plans to create 40 new jobs.

Key Management Declan O’Mahoney – Chief Executive Officer Website www.heartsine.com

140 BVCA e: [email protected] w: bvca.co.uk Intelesens

Backed by Intelesens develops and manufactures a range of Clarendon Fund wireless healthcare solutions including its own products Managers, and also for other original equipment manufacturers. The company business model includes design, design Enterprise Equity and manufacture and licensing. The company’s range of products provide monitoring solutions that offer improved quality of care to patients, access to affordable care by those currently unmonitored and cost savings to healthcare providers. Its lead product is the award-winning ‘zensor’, a device for patients whose health requires monitoring outside of the hospital environment. This includes patients with chronic conditions, cardiac illness or patients recovering from hospital procedures. Wireless sensors and networks were estimated to have reduced annual healthcare costs in the US by US$25 billion in 2012. Founded in 2001 as an Ulster University spin-out, Intelesens maintains a collaborative relationship with world-class research teams in the Nanotechnology and Integrated BioEngineering Centre (NIBEC) based at the university.

Key Management Michael Caulfield – Chief Executive Officer Website www.intelesens.com

e: [email protected] w: bvca.co.uk BVCA 141 Medical Equipment Solutions

Backed by Medical Equipment Solutions (MESL) is a provider of niche high-technology equipment-based healthcare The Summit Group services. Working in partnership with the NHS, independent sector and healthcare professionals, innovative solutions are provided which ensure clinicians have access to the latest technology, deliver significant value for money and improved patient- focused services. A network of radiosurgery, radiotherapy and niche diagnostic imaging centres – developed, delivered and operated by MESL – is being built across the UK. The company works in partnership with the healthcare industry ensuring its service is demand-led, is complimentary and provides opportunities. It provides all necessary capital, ensures total risk transfer and undertakes treatment at or below tariff. MESL is based in Surrey and was founded in 2004 by Chief Executive Officer Lynne Brooks.

Key Management Lynne Brooks – Chief Executive Officer Website www.m-e-s.co.uk

142 BVCA e: [email protected] w: bvca.co.uk Micrima

Backed by Micrima is Bristol-based company developing a safe, low-cost system to improve the detection of breast Angel CoFund, cancer. NESTA, University of Bath, Micrima’s patented techniques will enable breast screening to become safer, more convenient, more Wyvern Fund, accessible and more economically viable in an YFM Private Equity increased number of countries, and locations within those countries. The system will allow women of all ages to be screened for breast cancer in GP surgeries, or alternative High Street locations. Micrima’s MARIA technique uses an innovative radar system developed from land mine detection by a team at Bristol University led by Professor Ian Craddock, Professor of Electrical and Electronic Engineering, and Professor Alan Preece, Emeritus Professor of Medical Physics. The project is founded on Professor Ralph Benjamin’s pioneering work on microwave focusing. Micrima was spun out in 2006 from the University of Bristol.

Key Management Roy Johnson – Executive Chairman and Founder Website www.micrima.com

e: [email protected] w: bvca.co.uk BVCA 143

Mirada Medical

Backed by Mirada Medical is a leading international brand in

medical imaging. It develops advanced software Albion Ventures applications, which help healthcare professionals use medical images more effectively and efficiently to improve cancer care. Mirada’s products are used across diagnostic radiology, molecular imaging, radiation oncology, medical oncology, tumor boards and elsewhere. They specialise in simplifying technically complex image quantification allowing clinicians to confidently diagnose disease, assess response to treatment and plan radiation therapy or surgical intervention. Its high-value clinical software applications are used in prestigious cancer centres and hospitals worldwide. Originally spun out of the University of Oxford, the team of dedicated engineers and world-renowned scientists is based in the Oxford Centre for Innovation with a US office in Denver

Key Management Hugh Bettesworth – Chief Executive Officer Website www.mirada-medical.com

144 BVCA e: [email protected] w: bvca.co.uk Monica Healthcare

Backed by Monica Healthcare has successfully developed an

innovative wearable wireless foetal-maternal monitoring Catapult Ventures, system used in labour and delivery rooms to non- East Midlands Business invasively monitor and wirelessly transmit data to existing Angels, standard monitors. New Hill Management The patented technology is based on the acquisition

of electrophysiological signals that can be passively detected by electrodes positioned on the maternal abdomen. From these signals a number of parameters including foetal position, foetal heart rate, maternal heart rate, uterine activity, gross foetal movements and parameters describing Foetal ECG morphology can be extracted, in real time, and over an extended period of time. Monica Healthcare was formed in May 2005, the culmination of 15 years of research at the School of Electrical and Electronic Engineering and the School of Human Development at Nottingham University. It is based in BioCity in Nottingham.

Key Management Dr Carl Barratt – Chief Executive Officer Website www.monicahealthcare.com

e: [email protected] w: bvca.co.uk BVCA 145 Neoss

Backed by Neoss is a global medical device company that designs, manufactures and supplies innovative dental Delta Partners, implant solutions. Medtronic, Its objective is to advance the science of dental implant MMC Ventures, treatment and build a significant and profitable dental Souter Investments implant company recognised for leading innovation, customer focus and ethical principles. The Neoss system is the most efficient dental implant system on the market. It combines market-leading functionality for the patient with the lowest level of complexity available for the surgeon. In essence, the system does more things, more simply and more economically than the current market leaders. Neoss was founded in 2000 by leading dental academic, Professor Neil Meredith, and Fredrik Engman, a dental implant technologist. It is now established in the UK, German, Italian, Scandinavian, Australian and US markets.

Key Management Michael J Dormer – Chief Executive Officer Website www.neoss.com

146 BVCA e: [email protected] w: bvca.co.uk PathXL

Backed by PathXL is a global pioneer in the use of web-based solutions for digital pathology, and provides innovative Par Equity, software for use in drug discovery research, clinical Crescent Capital, sectors, biomarker analysis and education. E-Synergy, Digital pathology is a technology which replaces QUBIS traditional microscopy and glass slides with digital images and computer technology. PathXL has developed a comprehensive platform that is robust, open, and affordable. This platform, PathXL™ Manager, combined with purpose-built application software, underpins a wide range of applications including education and training in pathology, digital slide archiving, cloud-based digital pathology, biobanking, biomarker discovery and multiplex data management and analysis, and web-based image analysis for tissue analysis. The platform provides a cost reduction in the storage of samples, hugely increases the speed at which pathologists can review slides and also facilitates a real-time, cross-border collaboration between pathologists. PathXL, formerly known as i-Path, was formed in 2005 by Dr Peter Hamilton and Dr Jim Diamond as a spin- out from Queen’s University Belfast.

Key Management Des Speed – Chief Executive Officer Website www.pathxl.com

e: [email protected] w: bvca.co.uk BVCA 147 Phasefocus

Backed by Phasefocus is bringing to market a range of products and services based on its proprietary Phasefocus Virtual Braveheart Investment Lens, a disruptive technology that is revolutionising the Group, performance of imaging instrumentation and bringing Fusion IP, new user value to a wide range of analytical applications, Ombu Group, from stain-free cell imaging and quantitative electron South Yorkshire phase microscopy to ophthalmic lens metrology and Investment Fund (SYIF), beyond. Viking Fund, By eliminating the need for conventional focusing White Rose Technology devices, the Virtual Lens enables new applications and Seedcorn Fund (WRTSF) novel analytical capabilities in markets as diverse as life sciences and semiconductor process control, and in multiple wavelength regimes – visible light, X-ray, electron, and more. The Phasefocus Virtual Lens enables the observation and analysis of materials, processes and products in new ways and with unprecedented clarity and accuracy. The company, a spin-out from the University of Sheffield, commenced operations in 2007.

Key Management Ian Pykett – Chief Executive Officer Website www.phasefocus.com

148 BVCA e: [email protected] w: bvca.co.uk Sight and Sound Technology

Backed by Sight and Sound Technology is the UK’s leading

provider of hardware and software to the blind, Catapult Ventures visually impaired and those with learning and reading difficulties. It works in unison with private individuals, charitable organisations, educational establishments and commercial enterprises to help users fully realise their potential. Its product solutions have been specifically designed to improve quality of life at work, at study or in the home. Sight and Sound Technology is a nationwide company with its head office in Northampton. It works in conjunction with its customers and suppliers to ensure that their experiences are factored into new products that the company develops in combination with its partners, the leading companies in this industry.

Key Management Glenn Tookey – Chief Executive Officer Website www.sightandsound.co.uk

e: [email protected] w: bvca.co.uk BVCA 149 150 BVCA e: [email protected] w: bvca.co.uk Telecoms

e: [email protected] w: bvca.co.uk BVCA 151 telecoms

Telecoms Activ

Backed by Newcastle-based Activ is a business technology provider. NEL Fund Managers Initially focused on mobile communications, since 2011 Activ has widened the range of services it provides to include fixed-line calls and lines, broadband, hardware provision and IT infrastructure supply, installation and maintenance. It places great emphasis on bespoke solutions for its customers and approaches each of its clients with a unique offering. Being independent means it is not tied into any one network or provider so is able to advise on the entire market and not just on a narrow selection of products and packages from a partner network. Activ was founded by Ian Gillespie and Michael Fitzpatrick, both of whom have extensive experience of the telecommunications industry. Gillespie has been in the business since 1985, and Fitzpatrick has spent nine years in the sector.

Key Management Ian Gillespie – Director Website www.helloactiv.co.uk

e: [email protected] w: bvca.co.uk BVCA 153 Aria Networks

Backed by Aria Networks is an innovative UK-based company

that provides network profitability solutions to fixed-line, Capital for Enterprise, mobile and cloud service providers through its capacity Seraphim Capital management software, which unifies design, build and operational planning processes. Aria Networks’ solutions apply to anyone rolling out 3G/4G mobile, broadband, and business data services with future- proof support for any service, any technology and any vendor. Uniquely, Aria Networks’ software ensures planning focuses on service providers’ business objectives by analysing market growth and economic constraints along with detailed network capacity models and traffic profiles. With this insight, Aria simplifies and accelerates strategic design tasks, supports just-in-time capacity build plans, and ensures operation of a resilient, service-ready network. Aria’s products allow communication service providers to accurately answer questions about their network that previously would have taken months to estimate. The agility and precision their products bring to the network planning and service design process not only delivers operational efficiencies but also significantly improves estimating and spending CAPEX

Key Management Tony Fallows – Chief Executive Officer Website www.aria-networks.com

154 BVCA e: [email protected] w: bvca.co.uk Bullitt Group

Backed by Reading-based Bullitt Group provides complete go-to

market solutions for global brands looking to extend Business Growth Fund into mobile or audio products. As the worldwide licensee of Caterpillar for mobile devices and accessories and the licensed manufacturer of JCB mobile devices, Bullitt owns a commanding position in a rapidly expanding ‘rugged’ device category and is quickly emerging as a market leader in the design and manufacture of high quality, high durability mobile phones for both the consumer and industrial sectors. The global market for mobile phones is large with 1.8 billion handsets sold in 2011. The rugged segment is estimated at between US$700 million and US$1 billion with c.20 million handsets sold per annum (Source: Strategy Analytics, IDC, GFK). Bullitt was founded in 2009 by David Floyd, Colin Batt (both previously held senior positions in Motorola) and Richard Wharton, an experienced sales and marketing executive with a background in media and consumer electronics. Operating globally and employing 30 people, Bullitt has offices in Reading, as well as Shenzhen in China, and the US.

Key Management David Floyd – Co-Chief Executive Officer and Co-Founder Colin Batt – Co-Chief Executive Officer and Co-Founder Website www.bullitt-group.com

e: [email protected] w: bvca.co.uk BVCA 155 Cambridge Broadband Networks (CBNL)

Backed by CBNL pioneered the development and global

deployment of next generation microwave transmission Accel Partners, equipment through its VectaStar product. Adara Venture Partners, Amadeus Capital Its innovative next generation wireless backhaul Partners, technolgy is used by telecoms network providers across the globe, meeting the need to improve network Samsung Ventures, capacity and spectral efficiency under ever increasing TVM Capital mobile data growth demands. Services include network RF planning and mobile network design, project management, site preparation, system integration, network management and a range of customer training and support services. With its capacity, range, service mix, and spectral efficiency, VectaStar is technically and commercially proven in more than 30 countries. The company continues to expand into new geographical markets and is seeing great potential in China, Malaysia and South Africa in particular.

Key Management Lionel Chmilewsky – Chief Executive Officer Website www.cbnl.com

156 BVCA e: [email protected] w: bvca.co.uk Dynmark

Backed by Dynmark is a cloud-based mobile messaging and

intelligence platform that allows businesses to target YFM Equity Partners their messaging campaigns with the use of bulk SMS technology to increase customer engagement. Dynmark has developed the world’s first mobile intelligence cloud platform for analysing and tracking mobile interactions, powered by what Dynmark calls the ‘Intelligent Brain’. The Brain uses big data analytics to calculate behavioural and factual information about a mobile device. The Cheltenham-based business processes up to seven million mobile transactions per day and sends two-way communications to over 155 countries for its 7000 customers including some of the world’s largest brands, such as Sainsbury’s, Shell, British Airways, Virgin, Citibank, The Carphone Warehouse, Estee Lauder, and Boots. Dynmark’s goal is to change the way enterprise approaches interactions with mobile, ensuring that the right consumers are contacted at the right time with the right content, providing far higher levels of return on investment.

Key Management Paul Putman – Chief Executive Officer Website www.dynmark.com

e: [email protected] w: bvca.co.uk BVCA 157 ip.access

Backed by Headquartered in Cambridge, ip.access is a specialist

in deploying small cell solutions, providing more than Amadeus Capital 100 customers around the world with the capability to Partners, accelerate the introduction of small cell solutions into Cisco, their networks irrespective of purpose, technology or Frog Capital, deployment model. Intel Capital, In 2013, the company became the first provider to Qualcomm, pass the milestone of one million installed small cell Rothschild & access points and also announced that it had been Cie Gestion, awarded more than 40 small cell contracts in the Scottish Equity Partners, previous year alone. TE Connectivity The company’s success is built upon its ability to provide its service provider customers with a range of small cell solutions across all technologies (2G, 3G, and 4G) alongside an end-to-end deployment philosophy that integrates the small cell access points with converged access gateways and comprehensive network management and performance tools. The methodology and solution capability provided by ip.access enables its customers to better manage the economic challenges of delivering against ever more demanding coverage and capacity requirements. This, along with the ease of integration to higher order management solutions and the robust and elegant macro network interaction, reduces the time from installation to commercial service.

Key Management Simon Brown – Chief Executive Officer Website www.ipaccess.com

158 BVCA e: [email protected] w: bvca.co.uk Neul

Backed by Neul aims to unify the fragmented world of machine-

to-machine (M2M) communications with the world’s Cambridge Angels, first white space radio system and a new, open M2M DFJ Esprit, communications standard. IQ Capital, Neul is transforming wireless data communications Mitsui & Co. Global by helping to slash the cost of the spectrum access, Investment and enabling the very low cost base stations and the terminals needed to set up wide area wireless networks. This will enable Neul’s customers to build networks and applications that offer completely new kinds of devices, services and business models. Neul’s vision is to bring about a revolution in the way devices and applications communicate. From the predicted 50 billion connected machine-to-machine (M2M) devices, through smart metering to local broadband delivery, transportation and beyond, Neul is helping to create ‘the internet of everything’. Neul was formed in Cambridge, UK in 2010 by a group of entrepreneurs with an impressive track record. The core management team was responsible for building Europe’s most successful fabless semiconductor company, CSR.

Key Management Stan Boland – Chief Executive Officer Website www.neul.com

e: [email protected] w: bvca.co.uk BVCA 159 NewVoiceMedia

Backed by NewVoiceMedia is a leading provider of true cloud Bessemer Venture contact and call centre solutions, enabling businesses Partners, to deliver a personal and unique customer experience quickly and securely. Eden Ventures, Highland Capital NewVoiceMedia’s cloud service, ContactWorld, Partners, is instantly deployable and provides unique and MMC Ventures, patented routing capabilities designed to enhance the Notion Capital, customer experience. Headquartered in Basingstoke, the company is growing by more than 200% a Technology Crossover Ventures year and now serves more than 8000 agents in 30 countries, including Parcelforce, PhotoBox, QlikTech and SHL. ContactWorld provides users with a suite of integrated call centre technologies, and uses the cloud to provide complex data-driven routing of calls so they are delivered to the correct agents. It provides users with the technology and information to resolve more enquiries first time, resulting in a more rewarding interaction between agents and customers. The ContactWorld platform provides a market-leading 99.999% service availability, and processes hundreds of millions of calls, for thousands of agents working across the globe. It has customers in 30 countries on five continents, with offices in London, San Francisco, New York, Paris, Brussels and Sydney.

Key Management Jonathan Gale – Chief Executive Officer Website www.newvoicemedia.com

160 BVCA e: [email protected] w: bvca.co.uk Nomad Digital

Backed by Nomad Digital is the leading global provider of wireless solutions to the transportation sector. By improving Amadeus Capital the connectivity of trains and buses, the company Partners, helps passengers benefit from more reliable internet, Northstar Ventures, media entertainment and real-time passenger travel Oakfield Capital Partners, information on the move. Transportation companies SEB Venture Capital, also benefit from improved vehicle safety, efficiency, T-Venture and vehicle monitoring and maintenance, with add-on services like CCTV, passenger counting and engine management solutions. Founded in 2002 and based in Newcastle, Nomad was the first company to provide continuous high speed Internet connectivity in tunnels and the first to stream high quality live video to and from moving trains. Nomad is now the world’s largest provider of on-board IP connectivity to the rail industry, and with contracts across Europe, North America, the Middle East and Asia, it deploys solutions on more than 8000 vehicles, over 50,000 km of track and serving over one billion passengers.

Key Management Andrew Taylor – Group Chief Executive Officer Website www.nomadrail.com

e: [email protected] w: bvca.co.uk BVCA 161 Path Intelligence

Backed by Path Intelligence provides data-driven insights on visitor and customer behaviour to mall owners, Frog Capital, retailers, transportation hubs and venue operators based on its patented mobile device detection O’Reilly AlphaTech technology. Ventures The company delivers a new category of insight into consumer behaviour in physical environments. Headquartered in Portsmouth, Path Intelligence was founded by Sharon Biggar and Toby Oliver in 2004 with the aim of creating web analytics for the real world. That is, to provide the data on consumer behaviour for bricks and mortar retail environments that retailers have come to expect in online environments. Measuring billions of individual movements in hundreds of locations each year, Path Intelligence enables its global clients to actively manage their high-value real estate with confidence, improving both the customer experience and return on investment.

Key Management Matthew J Parker – Chief Executive Officer and Co-Founder Website www.pathintelligence.com

162 BVCA e: [email protected] w: bvca.co.uk PowerOasis

Backed by PowerOasis provides power management and energy

efficiency solutions for wireless operators, capturing the MTI Ventures, last billion subscribers in the emerging markets where Oxford Capital Partners, there is no grid supply or an unreliable grid. YFM Equity Partners The solutions reduce cell tower site energy costs, increase site availability and provide network-wide control and management reporting. The PowerOasis platform enables operators to take thousands of sites on and off grid in response to grid tariffs, making smart grid energy arbitrage a reality. The solution cuts energy costs and significantly reduces the CO2 footprint of the wireless operators. The platform also provides extended power back-up and disaster management reporting, ensuring continued cell site operation in disaster scenarios. PowerOasis is headquartered in Swindon with a core R&D team of 40 engineers.

Key Management John O’Donohue – Chief Executive Officer Website www.poweroasis.com

e: [email protected] w: bvca.co.uk BVCA 163 Index by company name

Company Page

4energy 9

A ACAL Energy 10 Activ 153 Acturis 55 Acunu 83 ADC Biotechnology 131 Ai2 103 AlertMe 84 AlexandAlexa 21 Amplience 22 Anesco 11 Aria Networks 154 Aridhia 104 Arvia Technology 12 Astley Clarke 23 Atlas 132 Atopix Therapeutics 105 Autifony Therapeutics 106 Aveillant 85

B Bicycle Therapeutics 107 Bioxydyn 133 Borro 56 Bravo Inns 24 Breaking Free Group 134 Breathing Buildings 13 Bullitt Group 155 The Business of Fashion 123

164 BVCA e: [email protected] w: bvca.co.uk Company Page

C Calastone 57 The Cambridge Satchel Company 25 CamSemi 86 Carbon Air 115 Carlton Manufacturing 116 CBNL 156 Cellnovo 135 Conversocial 58 Covalent Software 59 Creo Medical 136 CrowdControlHQ 26 The Currency Cloud 60 Cyberhawk 87

D Deliveroo 27 Deep Casing Tools 117 DisplayLink 88 Diurnal 137 DueDil 61 Dynmark 157

E eCommera 62 EDITD 63 Endomagnetics 138 Exosect 14

F farfetch 28 FDM Digital Solutions 118 Funding Circle 64 Fusion Antibodies 108

G Geckoboard 65 GlySure 139 GoCardless 66

e: [email protected] w: bvca.co.uk BVCA 165 Company Page

H Hailo 29 HeartSine Technologies 140 HouseTrip 30

I i-nexus 89 Intamac Systems 90 Intelesens 141 Interactive Investor 67 Invenias 68 ip.access 158

K Karus Therapeutics 109

L Lineup 124 Lyst 31

M Masabi 32 Medical Equipment Solutions 142 MedicAnimal 33 Metalysis 119 Metrasens 91 Micrima 143 miiCard 92 Mimecast 93 Mind Candy 124 Mirada Medical 144 Molplex 110 Monica Healthcare 145 MOO 34 MyOptique Group 35

N Neoss 146 Neul 159 NewVoiceMedia 160

166 BVCA e: [email protected] w: bvca.co.uk Company Page

Nomad Digital 161 notonthehighstreet.com 36 Nutmeg 69

O onefinestay 37 OpenGamma 70 Orla Protein Technologies 111 Oxford Photovoltaics 15

P PassivSystems 16 Path Intelligence 162 PathXL 147 PhaseFocus 148 PhotoBox 38 PowerOasis 163 Pyreos 120

Q Qriously 39 Qubit 71

R Rated People 40 RepKnight 72 ResponseTap 73 Rockabox 126

S Seatwave 41 Secret Escapes 42 Secretsales 43 Seedcamp 74 SenseLogix 75 Sight and Sound Technology 149 Skimlinks 127 Skyscanner 38 Small World FS 76 Smarter Grid Solutions 17 Somo 44

e: [email protected] w: bvca.co.uk BVCA 167 Company Page

Songkick 45 SportPursuit 46 SwiftKey 94

T TestPlant 95 Top10.com 47 Transferwise 77 Tyres on the Drive 41

U Unruly 128

V Vickers Energy Group 96 Vita Liberata 48

W Warwick Audio 97 Wear Inns 49 WheelRight 98 Wonga 78 Wool and the Gang 50 WorldRemit 79 WorldStores 51

X XMOS 99

Y Yplan 52

Z Zopa 80

168 BVCA e: [email protected] w: bvca.co.uk Index by investor

123Venture Secretsales – Digital & Consumer 43 350 Investment Partners 4energy – Cleantech 9 ACAL Energy – Cleantech 10 CamSemi – Information Technology 86 Intamac Sy stems – Information Technology 90 500 Startups Geckoboard – Finance & Business Support 65 Skimlinks – Media 127

A A-Grade Investments YPlan – Digital & Consumer 52 Accel Partners Calastone – Finance & Business Support 57 CBNL – Telecoms 156 Funding Circle – Finance & Business Support 64 GoCardless – Finance & Business Support 66 Hailo – Digital & Consumer 29 Housetrip – Digital & Consumer 30 Lyst – Digital & Consumer 31 Mind Candy – Media 124 OpenGamma – Finance & Business Support 70 Qriously – Digital & Consumer 39 Seatwave – Digital & Consumer 41 Swiftkey – Information Technology 94 Top10.com – Digital & Consumer 47 Wonga – Finance & Business Support 78 WorldRemit – Finance & Business Support 79 The Accelerator Group MOO – Digital & Consumer 34 Skimlinks – Media 127 Songkick – Digital & Consumer 45

ACT Venture Capital HeartSine Technologies – Medical 140 Seedcamp – Finance & Business Support 74

e: [email protected] w: bvca.co.uk BVCA 169 Acton Capital Partners MyOptique Group – Digital & Consumer 35 Adara Venture Partners CBNL – Telecoms 156 Advent Venture Partners Cellnovo – Medical 135 farfetch – Digital & Consumer 28 Worldstores – Digital & Consumer 51 Advancit Capital The Business of Fashion - Media 123 Albion Ventures Aridhia – Life Sciences 104 Bravo Inns – Digital & Consumer 24 Mirada Medical – Medical 144 Amadeus Capital Partners CBNL – Telecoms 156 GlySure – Medical 139 ip.access – Telecoms 158 Nomad Digital - Telecoms 161 Unruly – Media 128 XMOS – Information Technology 9 Amalfi Partners Qriously – Digital & Consumer 39 Angel CoFund Micrima – Medical 143 Anthemis Group The Currency Cloud – Finance & Business Support 60 Armada Investment Nutmeg – Finance & Business Support 69 Astellas Venture Management Bicycle Therapeutics – Life Sciences 107 Atlas Venture Bicycle Therapeutics – Life Sciences 107 The Currency Cloud – Finance & Business Support 60 DisplayLink – Information Technology 88 EDITD – Finance & Business Support 63 MOO – Digital & Consumer 34 Seatwave – Digital & Consumer 41 Secret Escapes – Digital & Consumer 42 Atomico Ventures Hailo – Digital & Consumer 29 Augmentum Capital borro – Finance & Business Support 56 Interactive Investor – Finance & Business Support 67 Zopa – Finance & Business Support 80

170 BVCA e: [email protected] w: bvca.co.uk Auriga Partners Cellnovo – Medical 135 Aviation Investment Fund Company Aveillant – Information Technology 85

B Balderton Capital DisplayLink – Information Technology 88 GoCardless – Finance & Business Support 66 Housetrip – Digital & Consumer 30 Lyst - Digital & Consumer 31 MedicAnimal – Digital & Consumer 33 Nutmeg – Finance & Business Support 69 Qubit – Finance & Business Support 61 Seedcamp – Finance & Business Support 74 Top10.com – Digital & Consumer 47 Wonga – Finance & Business Support 78 WorldStores – Digital & Consumer 51 Zopa – Finance & Business Support 80 BB Biotech Atlas – Medical 132 Beringea MyOptique Group - Digital & Consumer 35 ResponseTap – Finance & Business Support 73 SenseLogix – Finance & Business Support 75 Berti Investments Breathing Buildings – Cleantech 13 Bertelsmann Digital Media Investments Skimlinks – Media 127 Bessemer Venture Partners NewVoiceMedia – Telecoms 160 Zopa – Finance & Business Support 80 BHP Billiton Metalysis – Materials 119 Braveheart Investment Group Phasefocus – Medical 148 British Gas 4energy – Cleantech 9 AlertMe – Information Technology 84 Broadlake Capital Vita Liberata - Digital & Consumer 48 Bury Fitzwilliam-Lay & Partners i-nexus – Information Technology 89 Business Growth Fund Bullitt Group - Telecoms 155

e: [email protected] w: bvca.co.uk BVCA 171 Unruly – Media 128 Wear Inns – Digital & Consumer 49

C C5 Partners Metrasens – Information Technology 91 Calculus Capital WheelRight – Information Technology 98 Cambridge Angels Neul – Telecoms 159 Cambridge Consultants Aveillant – Information Technology 85 Canaan Partners borro – Finance & Business Support 56 onefinestay – Digital & Consumer 37 Capital for Enterprise Aria Networks – Telecoms 154 i-nexus – Information Technology 89 Catapult Ventures 4energy – Cleantech 9 Intamac Systems – Information Technology 90 Monica Healthcare – Medical 145 Sight and Sound Technology – Medical 149 CCM Partners Deep Casing Tools – Materials 117 Chord Capital Metalysis – Materials 119 Chrysalix SET AlertMe – Information Technology 84 Cipio Partners DisplayLink – Information Technology 88 MyOptique Group – Digital & Consumer 35 Cisco ip.access – Telecoms 158 Clarendon Fund Managers Fusion Antibodies – Life Sciences 108 Intelesens – Medical 141 Condé Nast International Farfetch – Digital & Consumer 28 Connect Ventures Secretsales – Digital & Consumer 43 Consort Medical Atlas – Medical 132

172 BVCA e: [email protected] w: bvca.co.uk Crescent Capital Fusion Antibodies – Life Sciences 108 PathXL – Medical 147 CT Investment Partners SenseLogix – Finance & Business Support 75

D DAG Capital DisplayLink – Information Technology 88 Dawn Capital eCommera – Finance & Business Support 62 Mimecast – Information Technology 93 Wonga – Finance & Business Support 78 Delta Partners GlySure – Medical 139 Neoss – Medical 146 DFJ Esprit Aveillant – Information Technology 85 CamSemi – Information Technology 86 Conversocial – Finance & Business Support 58 DisplayLink – Information Technology 88 Lyst – Digital & Consumer 31 Metalysis – Materials 119 Neul – Telecoms 159 SportPursuit – Digital & Consumer 46 XMOS – Information Technology 99 DN Capital Geckoboard – Finance & Business Support 65 Doughty Hanson & Co Secretsales – Digital & Consumer 43 Seedcamp – Finance & Business Support 74

E East Midlands Business Angels Monica Healthcare – Medical 145 Eden Ventures Acunu – Information Technology 83 Astley Clarke – Digital & Consumer 23 borro – Finance & Business Support 56 NewVoiceMedia – Telecoms 160 ResponseTap – Finance & Business Support 73 Edmond de Rothchild Investment Partners Cellnovo – Medical 135 Enterprise Equity HeartSine Technologies – Medical 140 Intelesens– Medical 141

e: [email protected] w: bvca.co.uk BVCA 173 Enterprise Ventures ACAL Energy – Cleantech 10 Carbon Air – Materials 115 Carlton Manufacturing – Materials 116 Deep Casing Tools – Materials 117 FDM Digital Solutions – Materials 118 Tyres on the Drive – Digital & Consumer 41 Vickers Energy Group – Information Technology 96 Entrepreneurs Fund Exosect – Cleantech 14 Environmental Technologies Fund 4energy – Cleantech 9 Metalysis – Materials 119 ePlanet eCommera – Finance & Business Support 62 ESB Novusmodus Aveillant – Information Technology 85 Esperante Ventures Karus Therapeutics – Life Sciences 109 E-Synergy PathXL – Medical 147 Euclid Opportunities OpenGamma – Finance & Business Support 70 e.ventures farfetch – Digital & Consumer 28

F FF&P Private Equity Small World FS – Finance & Business Support 76 Fidelity Growth Partners Europe notonthehighstreet.com – Digital & Consumer 36 Seatwave – Digital & Consumer 41 Finance Birmingham CrowdControlHQ - Digital & Consumer 26 Finance Wales ADC Biotechnology – Medical 131 Creo Medical – Medical 136 Diurnal – Medical 137 Warwick Audio – Information Technology 97 Finance Yorkshire Carlton Manufacturing – Materials 116 Firstmark Capital OpenGamma – Finance & Business Support 70

174 BVCA e: [email protected] w: bvca.co.uk Fontinalis Partners Masabi - Digital & Consumer 32 Forbion Capital Partners Cellnovo – Medical 135 Forward Partners Top10.com – Digital & Consumer 47 Foundation Capital XMOS – Information Technology 99 Founder Collective Top10.com – Digital & Consumer 47 Fourteen17 Rockabox – Media 126 Frog Capital eCommera – Finance & Business Support 62 EDITD – Finance & Business Support 63 ip.access – Telecoms 158 Path Intelligence – Telecoms 162 Rated People – Digital & Consumer 40 Rockabox – Media 126 FSE Investor Network Warwick Audio – Information Technology 97 Fusion IP Diurnal – Medical 137 Phasefocus – Medical 148

G General Catalyst Partners YPlan – Digital & Consumer 52 Good Energies AlertMe – Information Technology 84 Greenspring Associates PhotoBox – Digital & Consumer 38 Greycroft Partners Skimlinks – Media 127 Greylock Partners notonthehighstreet.com – Digital & Consumer 36 Wonga – Finance & Business Support 78

H HarbourVest Partners PhotoBox – Digital & Consumer 38 HealthCare Ventures Cellnovo – Medical 135

e: [email protected] w: bvca.co.uk BVCA 175 Herald Investment Management Limited i-nexus – Information Technology 89 Highland Capital Partners MyOptique Group – Digital & Consumer 35 NewVoiceMedia – Telecoms 160 PhotoBox – Digital & Consumer 38 High Line Venture Partners EDITD – Finance & Business Support 63 Hoxton Ventures Deliveroo – Digital & Consumer 27 HV Holtzbrinck Ventures Seatwave – Digital & Consumer 41 Hygea VCT Exosect – Cleantech 14 Huawei Technologies XMOS 99

I I2BF Global Ventures ACAL Energy – Cleantech 10 IA Ventures TransferWise – Finance & Business Support 77 Icap OpenGamma – Finance & Business Support 70 Idealab Top10.com – Digital & Consumer 47 Imperial Innovations Acunu – Information Technology 83 Autifony Therapeutics – Information Technology 106 Index Ventures AlertMe – Information Technology 84 Astley Clarke – Digital & Consumer 23 The Business of Fashion – Media 123 The Cambridge Satchel Company – Digital & Consumer 25 Deliveroo - Digital & Consumer 27 EDITD – Finance & Business Support 63 farfetch – Digital & Consumer 28 Funding Circle – Finance & Business Support 64 Geckoboard – Finance & Business Support 65 Housetrip – Digital & Consumer 30 Mimecast – Information Technology 93 Mind Candy – Media 124 MOO – Digital & Consumer 34 MyOptique Group – Digital & Consumer 35

176 BVCA e: [email protected] w: bvca.co.uk notonthehighstreet.com – Digital & Consumer 36 onefinestay – Digital & Consumer 37 PhotoBox – Digital & Consumer 38 Secret Escapes – Digital & Consumer 42 Seedcamp – Finance & Business Support 74 Songkick – Digital & Consumer 45 SwiftKey – Information Technology 94 TransferWise – Finance & Business Support 77 Wool and the Gang – Digital & Consumer 50 Intel Capital ip.access – Telecoms 158 Insight Venture Partners Mimecast – Information Technology 93 PhotoBox – Digital & Consumer 38 Invest NI Fusion Antibodies – Life Sciences 108 HeartSine Technologies – Medical 140 RepKnight – Finance & Business Support 72 IP Group Karus Therapeutics – Life Sciences 109 IQ Capital miiCard – Information Technology 92 Neul – Telecoms 159 Iris Capital MedicAnimal – Digital & Consumer 33

J Johnson & Johnson Development Corporation Atlas – Medical 132

K Kima Ventures Astley Clarke – Digital & Consumer 23 TransferWise – Finance & Business Support 77 Korys MyOptique Group 35

L Low Carbon Innovation Fund (part of the Adapt Low Carbon Group) Breathing Buildings – Cleantech 13 LSG Holdings Secretsales – Digital & Consumer 43 LSP Atlas – Medical 132

e: [email protected] w: bvca.co.uk BVCA 177 LVMH Moët Hennessy-Louis Vuitton The Business of Fashion – Media 123

M M8 Capital Masabi – Digital & Consumer 32 MPM Capital Atopix Therapeutics – Life Sciences 105 Mangrove Capital Partners Seatwave – Digital & Consumer 41 Medtronic Neoss – Medical 146 Mercia Fund Management Warwick Audio – Information Technology 97 Meridian Venture Partners i-nexus – Information Technology 89 Meritech Capital Partners Wonga – Finance & Business Support 78 Midven Breaking Free Group – Medical 134 CrowdControlHQ – Digital & Consumer 26 i-nexus – Information Technology 89 Warwick Audio – Information Technology 97 Minerva Business Angel Network Warwick Audio – Information Technology 97 Mitsui & Co. Global Investment Neul – Telecoms 159 MMC Ventures AlexandAlexa – Digital & Consumer 21 Breathing Buildings – Cleantech 13 Exosect – Cleantech 14 Interactive Investor – Finance & Business Support 67 Invenias – Finance & Business Support 68 Masabi – Digital & Consumer 32 Neoss – Medical 146 NewVoiceMedia – Telecoms 160 Small World FS – Finance & Business Support 76 Somo – Digital & Consumer 44 Tyres on the Drive – Digital & Consumer 41 Wool and the Gang – Digital & Consumer 50 Morningside GlySure – Medical 139 MTI Ventures Ai2 – Life Sciences 103 Arvia Technology – Cleantech 12

178 BVCA e: [email protected] w: bvca.co.uk Bioxydyn – Medical 133 Oxford Photovoltaics – Cleantech 15 PowerOasis – Telecoms 163

N NBGI Private Equity Cellnovo – Medical 135 NEL Fund Managers Activ – Telecoms 153 Orla Protein Technologies – Life Sciences 111 NES Partners CamSemi – Information Technology 86 NESTA Cellnovo – Medical 135 Micrima – Medical 143 Seedcamp – Finance & Business Support 74 Skimlinks – Media 127 New Hill Management Monica Healthcare – Medical 145 New Leaf Venture Partners Karus Therapeutics – Life Sciences 109 New Wave Ventures Endomagnetics – Medical 138 miiCard – Information Technology 92 Northstar Ventures ACAL Energy – Cleantech 10 Amplience – Digital & Consumer 22 Nomad Digital – Telecoms 161 SenseLogix – Finance & Business Support 75 Notion Capital The Currency Cloud – Finance & Business Support 60 DueDil – Finance & Business Support 61 NewVoiceMedia – Telecoms 160 Rockabox – Media 126 Novartis Venture Funds Atlas – Medical 132 Bicycle Therapeutics – Life Sciences 107 Novel TMT Ventures The Business of Fashion – Media 123 Novo Ventures Karus Therapeutics – Life Sciences 109 NVM Private Equity Lineup – Media 124 Wear Inns – Digital & Consumer 49

e: [email protected] w: bvca.co.uk BVCA 179 O Oakfield Capital Partners Nomad Digital – Telecoms 161 Oak Investment Partners DueDil – Finance & Business Support 61 Wonga – Finance & Business Support 78 Octopus Investments Amplience – Digital & Consumer 22 Calastone – Finance & Business Support 57 Conversocial – Finance & Business Support 58 Intamac Systems – Information Technology 90 Metrasens – Information Technology 91 Secret Escapes – Digital & Consumer 42 SwiftKey – Information Technology 94 YPlan – Digital & Consumer 52 Ombu Group Phasefocus – Medical 148 Omnes Capital (previously Crédit Agricole Private Equity) Cellnovo – Medical 135 O’Reilly AlphaTech Ventures Path Intelligence – Medical 162 Oxford Capital Partners Exosect – Cleantech 14 PowerOasis – Telecoms 163 Oxford Technology Management Acunu – Information Technology 83

P Par Equity miiCard – Information Technology 92 PathXL – Medical 147 Parkwalk Advisors ACAL Energy – Cleantech 10 Arvia Technology – Cleantech 12 Oxford Photovoltaics – Cleantech 15 Partech Ventures Secretsales – Digital & Consumer 43 Passion Capital DueDil – Finance & Business Support 61 GoCardless – Finance & Business Support 66 Pentech Ventures Acunu – Information Technology 83

180 BVCA e: [email protected] w: bvca.co.uk Nutmeg – Finance & Business Support 69 Secretsales – Digital & Consumer 43 Pfizer Venture Investments Autifony Therapeutics – Information Technology 106 PHD Capital Vickers Energy Group – Information Technology 96 Porton Capital ACAL Energy – Cleantech 10 Warwick Audio – Information Technology 97 PROfounders Capital onefinestay – Digital & Consumer 37

Q Qualcomm Ip.access – Telecom 158 QUBIS Fusion Antibodies – Life Sciences 108 PathXL – Medical 147 Quilvest Ventures PhotoBox – Digital & Consumer 38

R Reed Elsevier Ventures Seedcamp – Finance & Business Support 74 Ribbit Capital borro – Finance & Business Support 56 Funding Circle – Finance & Business Support 64 Robert Bosch Venture Capital Pyreos – Materials 120 WheelRight – Information Technology 99 Rosebud Fund FDM Digital Solutions – Materials 118 Rothschild & Cie Gestion Ip.access – Telecoms 158 Runa Capital Zopa – Finance & Business Support 80

S Samos Investments The Business of Fashion – Media 123 Samsung Ventures CBNL – Telecoms 156

e: [email protected] w: bvca.co.uk BVCA 181 Sarum Partners Diurnal – Medical 137 Endomagnetics – Medical 138 Scottish Enterprise Cyberhawk – Information Technology 87 miiCard – Information Technology 92 Pyreos – Materials 120 Smarter Grid Solutions – Cleantech 17 SEB Venture Capital Nomad Digital – Telecoms 161 Seedcamp TransferWise – Finance & Business Support 77 Scottish Equity Partners Anesco – Cleantech 11 Aridhia – Life Sciences 104 CamSemi – Information Technology 86 Cyberhawk – Information Technology 87 Deep Casing Tools – Materials 117 Ip.access – Telecoms 158 Smarter Grid Solutions – Cleantech 17 Skyscanner – Digital & Consumer 38 Sequoia Capital Skyscanner – Digital & Consumer 38 Songkick – Digital & Consumer 45 SofTech VC Songkick – Digital & Consumer 45 Seraphim Capital Aria Networks – Telecoms 154 Intamac Systems – Information Technology 90 Pyreos – Materials 120 TestPlant – Information Technology 95 Seven Spires Investments Metalysis – Materials 119 Serena Capital Worldstores – Digital & Consumer 51 Siemens Technology Accelerator Pyreos – Materials 120 Silicon Valley Bank Amplience 22 MyOptique Group 35 SLOW Ventures Fund YPlan – Digital & Consumer 52 Souter Investments Neoss – Medical 146

182 BVCA e: [email protected] w: bvca.co.uk South Yorkshire Investment Fund Phasefocus – Medical 148 Spark Capital Qriously – Digital & Consumer 39 SPARK Impact/Ventures Ai2 – Life Sciences 103 Bioxydyn – Medical 133 Mind Candy – Media 124 Molplex – Life Sciences 110 SR One Bicycle Therapeutics – Life Sciences 107 The Summit Group Medical Equipment Solutions – Medical 142 Summit Partners Acturis – Finance & Business Support 55 Sussex Place Ventures Endomagnetics – Medical 138 Skimlinks – Media 127 Sustainable Technology Investors Limited Arvia Technology – Cleantech 12 SV Life Sciences Atopix Therapeutics – Life Sciences 105 Autifony Therapeutics – Information Technology 106 Bicycle Therapeutics – Life Sciences 107 Karus Therapeutics – Life Sciences 109

T TE Connectivity Ip.access – Telecoms 158 Technology Crossover Ventures NewVoiceMedia – Telecoms 160 Tiger Global Management AlexandAlexa – Digital & Consumer 21 T-Venture Nomad Digital – Telecoms 161 TVM Capital CBNL – Telecoms 156

U UCL Business Endomagnetics – Medical 138

e: [email protected] w: bvca.co.uk BVCA 183 Unicorn Asset Management Interactive Investor – Finance & Business Support 67 Union Square Ventures Funding Circle – Finance & Business Support 64 Hailo – Digital & Consumer 29 University of Bath Micrima – Medical 143 University of Strathclyde Smarter Grid Solutions – Cleantech 17

V Valar Ventures TransferWise – Finance & Business Support 77 Van den Ende & Deitmers Unruly – Media 128 VantagePoint Capital Partners AlertMe – Information Technology 84 Venrex Investment Management Astley Clarke – Digital & Consumer 23 Skimlinks – Media 127 Viking Fund Diurnal – Medical 137 Phasefocus – Medical 148 Vitruvian Partners Deliveroo – Digital & Consumer 28

W Wellington Partners Atopix Therapeutics – Life Sciences 105 Hailo – Digital & Consumer 29 Wool and the Gang – Digital & Consumer 50 YPlan – Digital & Consumer 52 Zopa – Finance & Business Support 80 West Coast Capital eCommera – Finance & Business Support 62 Western Technology Investment Rated People – Digital & Consumer 40 Westminster Growth Capital Qubit – Finance & Business Support 71 WHEB Partners Exosect – Cleantech 14 PassivSystems – Cleantech 16

184 BVCA e: [email protected] w: bvca.co.uk White Rose Technology Seedcorn Fund Phasefocus - Medical 148 WPP eCommera – Finance & Business Support 62 World Gold Council Oxford Photovoltaics – Cleantech 15 Wyvern Fund Micrima – Medical 143

X XAnge Private Equity The Currency Cloud – Finance & Business Support 60 Xilinx Technology Ventures XMOS 99

Y Y Combinator GoCardless – Finance & Business Support 66 YFM Equity Partners Atlas – Medical 132 Covalent Software – Finance & Business Support 59 Dynmark – Medical 157 Intamac Systems – Information Technology 90 Micrima – Medical 143 PowerOasis – Telecoms 163

Z Zouk Anesco – Cleantech 11

e: [email protected] w: bvca.co.uk BVCA 185 Index by parliamentary constituency

A Aberdeen North Deep Casing Tools 117

B Basingstoke NewVoiceMedia 160

Battersea SportPursuit 46

Belfast East HeartSine Technologies 140 Intelesens 141 PathXL 147

Belfast West Fusion Antibodies 108 RepKnight 72

Bermondsey and Old Southwark AlexandAlexa 21 Masabi 32 OpenGamma 70 Small World FS 76 SwiftKey 94

Bethnal Green and Bow Unruly 128

Birmingham, Ladywood CrowdControlHQ 26

Brent Central MedicAnimal 33

Bristol West Micrima 143 XMOS 99

186 BVCA e: [email protected] w: bvca.co.uk Burnley FDM Digital Solutions 118

C Cambridge Breathing Buildings 13 CamSemi 86 CBNL 156 DisplayLink 88

Cardiff North Diurnal 137

Cheltenham Dynmark 157

Chippenham Aria Networks 154

Cities of London and Westminster AlertMe 84 Astley Clarke 23 Autifony Therapeutics 106 Borro 56 The Business of Fashion 123 Calastone 57 The Currency Cloud 60 eCommera 62 farfetch 28 Funding Circle 64 Hailo 29 Mimecast 93 MyOptique Group 35 PhotoBox 38 Qubit 71 Rated People 40 Rockabox 126 Seatwave 41 TestPlant 95 Top10.com 47 Wonga 78 Zopa 80

City of Chester SenseLogix 75

Coventry South i-nexus 89 Warwick Audio 97

e: [email protected] w: bvca.co.uk BVCA 187 E Easington Wear Inns 49

Edinburgh East Skyscanner 38

Edinburgh North and Leith Aridhia 104 miiCard 92

Edinburgh South Pyreos 120

G Glasgow Central Interactive Investor 67 Metaforic 80 Smarter Grid Solutions 17

H Hackney North and Stoke Newington Wool and the Gang 50

Hackney South and Shoreditch Amplience 22 Geckoboard 65 Lyst 31 MOO 34 Skimlinks 127 Songkick 45

Halton ACAL Energy 10

Hammersmith Lineup 124 WorldRemit 79

Harrogate and Knaresborough Neoss 146

Holborn and St Pancras Acturis 55 DueDil 61 HouseTrip 30

188 BVCA e: [email protected] w: bvca.co.uk I Islington South and Finsbury Acunu 83 Conversocial 58 Deliveroo 27 EDITD 63 GoCardless 66 Mind Candy 124 onefinestay 37 Qriously 39 Secret Escapes 42 Seedcamp 74 Somo 44 Transferwise 77 Yplan 52

K Kensington Secretsales 43

L Livingston Cyberhawk 87

M Maccelsfield Molplex 110

Manchester Central Ai2 103 Bioxydyn 133 Breaking Free Group 134

Monmouth Creo Medical 136

N Newbury Anesco 11 PassivSystems 16

Newcastle Upon Tyne Central Orla Protein Technologies 111

Newcastle Upon Tyne East Nomad Digital 161

e: [email protected] w: bvca.co.uk BVCA 189 North Tyneside Activ 153

Northampton North Sight and Sound Technology 149

Nottingham East Monica Healthcare 145

O Oxford East Mirada Medical 144 Oxford West and Abingdon GlySure 139 Oxford Photovoltaics 15 WheelRight 98

Portsmouth North Path Intelligence 162

R Reading East Bullitt Group - Telecoms 155 Invenias 68

Richmond Park notonthehighstreet.com 36

Runnymede and Weybridge Medical Equipment Solutions 142

Rushcliffe 4energy 9

S Salford and Eccles Carbon Air 115 ResponseTap 73

Sheffield Central PhaseFocus 148

South Antrim Vita Liberata 48

South Cambridgeshire Bicycle Therapeutics 107 The Cambridge Satchel Company 25 ip.access 158

South East Cambridgeshire Aveillant 85

190 BVCA e: [email protected] w: bvca.co.uk Endomagnetics 138 Neul 159

South Northamptonshire Intamac Systems 90

South West Wiltshire Atlas 132

Stretford and Urmston Vickers Energy Group 96

Swansea East Cellnovo 135

T Taunton Deane Covalent Software 59

Twickenham WorldStores 51

V Vale of Clwyd ADC Biotechnology 131

Vauxhall Nutmeg 69

W Wantage Atopix Therapeutics 105 Karus Therapeutics 109 PowerOasis 163

Warrington North Tyres on the Drive 41

Warrington South Bravo Inns 24

Weaver Vale Arvia Technology 12

Wentworth and Dearne Carlton Manufacturing 116 Metalysis 119

West Worcestershire Metrasens 91

Winchester Exosect 14

e: [email protected] w: bvca.co.uk BVCA 191 www.bvca.co.uk