KnowledgeMill gets investment funding
YFM Equity Partners (through its managed fund Seraphim Capital) and MMC Ventures have co-invested on a £1.5m growth capital investment into KnowledgeMill, a company that has developed a cloud-based email management software platform – probably best known in the legal market for its deal with Lewis Silkin (see December 2011 Legal Technology Insider). Peter Norman, former board director at Sophos plc, will join KnowledgeMill’s board as Executive Chairman.
KnowledgeMill, which is London-based, was founded by content management experts Hisham Anis, James Allchin and Marcus Lambert in 2009 to address the problem of filing, archiving and document management of email and attachments. Knowledge Mill’s clients include legal and other professional services firms, construction and leisure companies. Their business partners include EMC, Oracle, Microsoft, Fujitsu and Union Solutions. www.knowledgemill.com
Recent surveys have suggested that 50% of business users now spend more than 10 hours a week processing emails. Intelligently assigning a ‘context’ to each email, KnowledgeMill enables automated filing of emails, relating to specific work streams and projects, and collaborative working, allowing all relevant people to view the email. Emails and related documents are only stored once which saves significant email infrastructure and storage costs. Current customers have indicated time savings in the region of 45 minutes per user per day and over 50% savings in infrastructure and email back-up time. It is fully integrated with Microsoft Outlook and through its cloud-based platform is also easily integrated with customer relationship software such as Salesforce.com and NetSuite.
KnowledgeMill CEO Hisham Anis, says: “Email management is a huge headache for businesses. Our solution enables companies to save considerable time and money on IT infrastructure and staff and improve productivity levels. We are excited to partner with YFM Equity Partners and MMC Ventures as we expand our team and invest in marketing our products to a wider number of potential clients”.
Mark Boggett, Investment Director at YFM Equity Partners and Managing Director of Seraphim Capital added: “We’re delighted to be investing in KnowledgeMill. Their disruptively priced product offers the potential to democratise email management. We have introduced Peter Norman as Executive Chairman who brings a wealth of experience in growing software businesses. We look forward to working with the team and their partners as they transform the business into a market leading provider of email and content management solutions.”
YFM Equity Partners / Seraphim team included: James Bruegger and Mark Boggett Investment Directors and Iain Darroch, Investment Manager. MMC Ventures team included Jon Coker, Investment Director and Simon Menashy, Investment Associate. Advisors to Investors were MBM Commercial LLP. Advisors to management were: Orrick, Hetherington and Sutcliffe LLP and Gatehouse Capital.