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Southport video production company raises £500k to expand into new sectors
Posted by Billy Wood on 22 Nov 2016
4040 Media, the Southport-based animated video production company, has raised £500k in equity and debt funding, as it looks to grow into new sectors.
The startup, which specialises in animated video explainers for corporate clients, has raised the funding from the angel syndicate Redstone Venture Managers and the Angel CoFund.
Founded in 2009 by Chief Executive Officer Matt Byrom, the business has produced animated explainer videos for the likes of Seagate, Oracle and Deloitte, having created over 1,500 videos in the last five years for a host of different clients across 40 countries.
Commenting on the firm’s growth, Byrom, said: “It’s an exciting time for us. We’ve grown the business as the popularity of explainer videos has exploded.
"We’re now at a point in our growth where we can solidify our position as one of the leaders in our market and expand out our product offering to service our existing customers and new customers further."
4040 Media will use the funding to invest in its marketing and sales efforts, and to develop new products and services, including its content discovery platform publi.sh.
The backing marks the first investment for Redstone Venture Managers and Richard Young from the group commented: “It has been a privilege to be able to invest in 4040 Media, which is an emerging star of the North West tech scene, and to work with Matt Byrom, who is a talented and dedicated entrepreneur.
"Angel Co Fund have helped us deliver this transaction and we look forward to working on many more investments with them."