17 Oct 2016
YFM Equity Partners invests £2.5m into mobile device software provider, Biz2Mobile
YFM Equity Partners (“YFM”), the specialist private equity fund manager has invested £2.5m into Biz2Mobile (“B2M”), a leading provider of software for rugged and industrial enterprise mobile devices.
The investment was made by the British Smaller Companies Venture Capital Trusts and leads total funding of £3.6m alongside existing investors.
The funding will be used to accelerate the growth of B2M’s industry-first analytics tool, Elemez, which enables firms to remotely monitor and measure their mission-critical mobile devices. The investment will support Elemez both in the UK and with its global partners.
UK-based B2M recognised the increasing importance that enterprise mobile devices play in the operations of organisations around the world. Elemez enables businesses to actively monitor device performance in the field, using predictive analytics to avoid costly downtime and improve productivity. The company has already agreed partnerships with leading manufacturers including Zebra Technologies and Panasonic Computer Products Europe.
Charlie Robinson, Investment Director at YFM, commented: “B2M has a longstanding track record in developing solutions for the mobile device market and we are particularly excited to be able to support the business as it moves into a new growth phase. Elemez is an innovative product providing increasingly important information to manufacturers and end users alike. We are looking forward to working with Julie and her team to deliver on the opportunity they have created for B2M.”
Julie Purves, Founder and CEO of B2M, added: “YFM’s support will be instrumental in driving our future growth as we look to further develop our offering and customer base. Elemez’ analytics are key to improving productivity for enterprises where mobile solutions are business critical. YFM’s investment will enable us to recruit additional talent to meet the increasing demand from device manufacturers, managed service providers and enterprise customers.”