Isn't it a nice day today ? Glowria announces this morning a 4 million euro round of financing by SPEF Venture, the private equity arm of French banking federation, Natexis Banques Populaires.
Bernard Nabet & Arnaud Filhol from SPEF will be joining our historic investor (Mousse Partners) and a number of Business Angels as our equity partners; their investment brings the total money raised by the company to over 8,5m€ so far. What for? I'll let you have a look at Mihai's blog where he describes some of our plans in marketing, video-on-demand, and recruitement.
He also describes how the company has developped recently: we have extensively developped our partnerships with our "suppliers" (the studios) and with our "distribution networks" (major ISPs and portals); our portfolio of products and clients are now profitable; the VOD platform is ready, etc.
If you were wondering what I had been up to in the past few months, aside form writing on this blog, now you know...
The road ahead is huge: Mihai mentions that glowria has the ambition to become the leader in this space on continental Europe. Indeed, lot of work ahead.
Enough said, the press release is here.
On a final note, don't you like French Entrepreneurs lately ?
- LBA announced a Business-Angel round a couple of weeks ago of 2,5m€
- Boonty (leading games distributor, and our partner at GlowriaGames) announced 8m€ last thursday
- Photoways (online picture printing service) announced 24m€ on Friday
- grosbill.com was sold to Auchan the other day
- and I hear a couple of other guys will be announcing shortly, before the summer break.
It's indeed a great time to start a new company, to develop your dreams and aspirations. I'm sure the VCs that read this blog will agree with me as well. In the meantime, here at RISC Partners, we have a couple of projects we're working on, and I'll be posting job descriptions shortly.
Nota: the press is already carrying the story: for instance NetEconomie.com ;)
