Duedil Completes Series A Funding and Announces $5m in New Investment
11 Apr, 2013, 11:32 ET
LONDON, April 11, 2013 /PRNewswire/ --
-New funding will drive next phase of growth and international expansion for online business information platform-
Duedil, the next generation business information service, today announced it has completed its Series A funding round, led by Notion Capital and Oak Investment Partners. Over the last month Duedil has raised a combined $5m in funding. The latest investment includes new financing from all existing investors, with Spotify investor, Shakil Khan, also participating with a personal investment in the company. This combined funding will allow the company to expand into new territories and deepen its product offering by tapping into additional data sets. Duedil's new investors join Passion Capital and a group of prominent angel investors as shareholders.
Since its launch in April 2011, Duedil's business information service has been rapidly adopted by businesses of all sizes including 75 of the FTSE 100. The service provides complete and instant insight into every private company in the UK and Ireland, enabling businesses to manage risk and identify new opportunities.
Damian Kimmelman, CEO of Duedil, said: "This new investment will enable us to extend the reach of our service into new regions and accelerate our hiring, especially in engineering and data science. We will also be expanding our product's scope and insight by opening up and linking new and powerful data sets."
"We're very excited to be investing in Duedil," said Chris Tottman, Partner at Notion Capital. "The Internet is a true transparency enabler and Duedil is a great example of this. The service answers a huge demand in the market for up to date and immediate business information and empowers its users to make more informed decisions."
Patricia Kemp, of Oak Investment Partners said: "Duedil is at the forefront of business information delivery and discovery. We're delighted to help them expand into new territories and provide an increasingly invaluable tool to small businesses, who are truly the backbone of the economy, often making up 50+ percent of GDP."
Launched in April 2011, Duedil has quickly become the largest source of free private company information in the UK and Ireland. Duedil was founded by entrepreneur Damian Kimmelman in order to increase trust and transparency in business by harnessing the power of company information. Duedil is headquartered in London, UK, and is backed by Notion Capital, Oak Investment Partners, Passion Capital, Federico Pirzio-Biroli, Jonty Hurwitz, Sherry Coutu, Tom Hulme, Denis Raeburn, Mark Sainsbury and Shakil Khan. http://www.duedil.com/
About Notion Capital
Notion is a venture capital firm focused on high potential businesses in the Cloud Computing and Software-as-a-Service (SaaS) markets. The Notion team has unique expertise and experience in the Cloud Computing market having founded, built and exited two highly successful businesses in the space - Star and MessageLabs. Companies within Notion's portfolio include Brightpearl, eSellerPro, Shutl, The Currency Cloud and Tradeshift. For more information go to: http://www.notioncapital.com/
About Oak Investment Partners:
Oak Investment Partners is a multi-stage venture capital firm and a lead investor in the next generation of enduring growth companies. Since 1978, the firm has invested $9 billion in nearly 500 companies around the world, earning the trust of entrepreneurs with a senior team that delivers steady guidance, deep domain expertise and a consistent investment philosophy. The firm's five major growth sectors of focus are information technology, Internet and consumer, payment services, healthcare services and clean energy. For more information, visit http://www.oakvc.com/
Damian Kimmelman Bio
Damian Kimmelman is the founder and CEO of Duedil. Prior to launching Duedil, Damian set up two other businesses, a peer-to-peer Chinese gaming platform and a leading London-based digital agency whose clients included the BBC, Virgin and General Motors.
Damian Kimmelman LinkedIn http://www.linkedin.com/in/damiankimmelman
Damian Kimmelman Twitter https://twitter.com/duediler
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