K-Incubator secures dot.com funds
K-Incubator, KPMG's business incubation service, has secured expansion capital for internet technology company Shareout.com.
The deal is one of the first for K-Incubator, which launched in February this year.
Shareout develops internet software that adds a visual presence at the top of a Web page allowing tailored information and advertisements to be delivered to users as they surf.
K-Incubator was the principal adviser in assisting Shareout with its plans.
The funding was provided by Leeds-based investment company Abstract Securities, which specialises in providing seed capital and management advice.
Mark Thompson, Shareout’s chief executive, said: ‘This funding will help us to move closer towards our goal to perfect the art of internet communication through the development of innovative technology.’
Shareout’s technology aims to allow companies to profile users and identify individuals’ access speed which can then be used to deliver customised information and high bandwidth content such as video and sound.
KPMG’s Clive Hyman, head of K-Incubator, said: ‘Their focus on controlled expansion and the ability to deliver returns to its investors early in the company’s development and help drive the business forward.’
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