Favorit raises seed funding from angel investor
Thames Valley Enterprise Hub start-up company Favorit has announced the closing of its seed funding investment round, with investment provided by David Richmond, serial entrepreneur and angel investor. The investment will allow Favorit to launch its Blogging aggregation platform business, and to accelerate the time-to-market of its first product.
Favorit founder and CEO Nick Halstead said, “I am really excited to have David on board. This round of funding will let us accelerate our product launch and grow the business more rapidly. David brings a wealth of business and investment experience with his seed funding and this will clearly be valuable as Favorit grows.”
As part of the funding round David has joined the Board of Favorit. He said, “The blogopshere currently stands at more than 75 million blogs, and deriving value from this wealth of comment and information is going to require different ways of leveraging the community to produce new experiences for end users. Nick has approached the challenge in a unique and innovative way, and I am very pleased to be joining Favorit to help him drive the business forward.”
Favorit was started by Nick Halstead in mid-2007, spun out of a project to see how forum systems could be improved by the latest advances in web technologies. This project created a range of core technologies upon which Nick has built Favorit.
Favorit’s key functionality creates a single platform that aggregates blogs and centralizes the commenting functionality, vastly simplifying the ability to view and comment, without having to access multiple sites. By analyzing attention data, relevant content for the blog reader can be identified easily and republished, allowing communities of like-minded readers to quickly access targeted and meaningful content, without having to trawl the web.
For more information contact
Thames Valley Enterprise Hub
0118 935 7318
www.thamesvalleyhub.co.uk
Publish Date: 22nd April 2008
