Internet of Things software and services company Intamac growth funding increased to £14.5m
Intamac set for growth as connected devices are expected to double by 2020
Intamac Systems, the UK headquartered ‘Internet of Things’ company, which delivers software and services that enable manufacturers and service providers to connect products securely to the internet so that they can be monitored and controlled via apps, has raised a further £2m in growth capital. The funding round, led by YFM’s Chandos fund and British Smaller Companies VCTs and also supported by a number of existing institutional investors including Seraphim and 350 Investment Partners, increases total investment in the business to £14.5m.
Global growth in the demand for connected devices across product categories including heating, lighting, air conditioning and security is expected to double sales from 12.4 billion in May 2014 to 26 billion products by 2020.
Intamac’s Enso platform, software and services are used by many blue chip companies including, Scottish Power in the UK, Securitas across Europe and Belgium’s Belgacom. It recently signed a three year contract with Sprue Aegis plc, one of Europe’s leading suppliers of home safety products (including smoke and carbon monoxide alarms) sold under the FireAngel brand.
Mark Lee, Intamac Commercial Director said “Intamac has been delivering secure, reliable connected solutions for over 10 years; our technology is tried and tested and we have unrivalled experience in helping manufacturers and service providers to connect their products. As you would expect in a market that is predicted to see very fast growth it seems like there is another new startup almost every week, what we offer though is market leading innovation coupled with proven and stable technology.”
Commenting, David Perez, Intamac Chief Executive said: “Our IoT technology is enabling large manufacturers with trusted consumer brands to connect their products securely and efficiently to the internet making these ‘smarter’ and more desirable for consumers. It also gives manufacturers real time insight into how their products are performing, through telemetry, remote diagnostics and estate management. Customers like having the power to control their home devices. This additional funding allows us to rapidly scale our business and meet the demand we are now experiencing.”
David Bell, Director at YFM Equity Partners, who led the deal said: “We are delighted to support David and the Intamac team who have recently seen a rapid growth in sales prospects for their innovative Enso platform. The Internet of Things concept is being embraced by consumers with a wide range of new products coming to market, including cameras, heating controls, fire alarms and even fridge’s and washing machines.”
Notes to Editors:
Intamac Systems is a market leader in Connected Home and Internet of Things solutions. As a B2B solution provider Intamac helps its partners to connect ‘things’ to the Internet so that they can be monitored, controlled and accessed remotely.
Founded in 2001 and based in the UK, Intamac was the first company in the world to exploit cloud computing technology to support the deployment of value added services for the Connected Home. Today partners around the world rely on Intamac’s ‘carrier class’ cloud services platform to support mass market deployments across multiple service verticals including innovative security, video surveillance, automation, energy management and tele-care solutions. For more information see www.intamac.com
Sean Meagher, Intamac Systems, +44 870 111 7234, firstname.lastname@example.org
For more information see www.intamac.com
About YFM Equity Partners
YFM Equity Partners (www.yfmep.com) has a 30 year business history of investing in and transforming fast-growing small UK companies. We invest up to £10 million of equity in established UK businesses across all sectors. Through our regional office network, we are dedicated to working alongside management teams to create transformational growth and success.
Recent YFM Equity Partners investments include, Intelligent Office and Mangar International. Its portfolio also includes: cyber security firm, Deep Secure, kitchen manufacturer and retailer, Harvey Jones, outdoor equipment and clothing retailer Go Outdoor and specialist engineer Seven Technologies.
YFM Equity Partners invests through its subsidiary YFM Private Equity Limited which is registered in England and Wales, Co No: 2174994. Registered Office: Saint Martin’s House, 210-212 Chapeltown Road, Leeds LS7 4HZ. YFM Private Equity Limited is authorised and regulated by the Financial Conduct Authority, FRN: 122120 and is ultimately owned by YFM Equity Partners LLP.