Formicary Collaboration Group Secures GBP1million Investment

London - 24 April 2012

Global expansion and further collaborative innovation planned

Formicary Collaboration Group (FCG), a provider of team-based collaboration solutions, has secured an injection of growth capital worth just over GBP1 million. The funding, which has come from a group of private angel investors, will be used to drive business development initiatives both in the UK and international markets, and fuel further innovation of FCG products.

FCG's collaboration software leverages existing knowledge and communication assets to enable users to consume and share information and ideas through enterprise 2.0 and social applications - accessible on any device for today's increasingly mobile workforce. By integrating the wealth of content within business workflow systems with social collaboration technology, FCG solutions power dynamic discussions that can have a direct impact on business performance and profits.

Current clients include Aviva and The Royal Bank of Scotland.

The company was created as a separate business entity in 2011 after trading for 10 years as part of Formicary Limited, a software and system integration provider.

Heiner Boehmer, one of the investors involved in the funding, comments: "FCG is already a credible player in the collaboration space thanks to its heritage in providing innovative solutions to an impressive list of blue chip clients. This combined with the proven experience of its management team means that FCG is well placed to provide a solution for the corporate collaboration challenge faced by organisations today."

Joseph Do, CEO, adds: "This investment shows the faith investors have in FCG's products and our ability to deliver real benefits to a growing market. FCG will use the funding to expand the business development team, particularly in the US where we are seeing strong demand and are looking to increase our presence."

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