Member Article

Financial backing for explosive ‘anti-social’ network

A burgeoning new platform offering users complete anonymity and hailed internationally as the real life, ‘anti-social’ network has secured a rolling programme of investment worth in excess of half a million pounds through Jenson Seed EIS Fund 2, a joint venture between professional services firm Jenson Solutions and fund manager Foresight Group, which helps support high growth companies in their early stages.

A recent survey proved that a third of women lie at least once a month on traditional social networks regarding their lifestyle. In a growing backlash against this online one-upmanship, the revolutionary and female-dominated Pencourage.com has seen users take to its premise of anonymous, no holds barred truth-telling in droves.

Lauded by lifestyle press such as Cosmopolitan and the Huffington Post, the site’s popularity is explained by sound psychological principles, which prove that the modern pressure of online sharing can paradoxically leave people feeling more isolated.

According to Jenson Solutions’ Managing Director Paul Jenkinson: “We are excited to announce the new investment by Jenson Seed EIS Fund 2. Pencourage is aiming to become a leading provider within the global social network space; a site not affected by social trends or whims, with content of real value measured in both sentiment and monetary terms – we look forward to working with their team on this innovative venture.”

Pencourage is a social network based on journal entries that promise the user absolute anonymity. It allows the writer to share their innermost thoughts and feelings, secure in the knowledge that no user details will ever be published, unless they specifically want them to be. Every day, the writer can upload 200 words to tell their true story in a shared online journal. They can also pin relevant websites to each journal entry, store pictures appropriate to their stories, view video they may have taken and upload music.

According to Pencourage Founder Peter Clayton: “We’re delighted to be working with Jensons – Pencourage has gained thousands of dedicated users and wide, international media coverage in a very short space of time. The business has already rebuffed unsolicited takeover approaches from significant media owners in the UK and venture capital companies in the US but we feel that Jenson is an ideal partner for us, as they recognise the value of our unique and disruptive plans.”

The Pencourage team consists of: Peter Clayton, (Founder and CEO), Peter has worked at the highest level within multinational advertising agencies, including Leo Burnet in London, Singapore and Australia; Simon Nicholson (Sales director), has a background in international sales and worked for global businesses including Samsung and provides sales expertise and experience with the US territory; Danton Supple (Director), is a music producer and he has worked with some of the world’s most famous bands including Coldplay.

This was posted in Bdaily's Members' News section by David Pacini .