Private equity firms Softbank UK Ventures and Kennet Capital have teamed up to invest $9m (E10.1m) in software company Volantis Systems.
Volantis provides solutions for delivering device-aware web applications. Its core software is an application server based internet platform which manages the presentation and behaviour of web applications across dozens of different devices including PCs, mobile phones and PDAs as well as interactive television.
The cash will be used to expand the organisation, develop product enhancements and grow sales and distribution channels.
Terry Davies, Volantis' chief executive said that the funding will drive a new phase of global expansion for the firm. “Our investors' experience, strategic advice, and international contacts are invaluable in our growth. Our product will allow customers to provide a differentiating advantage through offering content and functionality via alternative web-enabled devices as a means of supporting, servicing and selling to new and existing consumers,” he said.
UK-based Volantis was set up last year. Its key strategic partners are BEA, ATG and IBM. Kennet Capital, the early-stage private equity arm of Broadview, provided Volantis with its $3m first round of financing in July last year.