The UK’s 4040 Media, which makes software for explainer videos in marketing, has announced a £510,000 equity and debt funding round.
The equity funding comes in at £310,000 from Redstone Venture Managers and Angel CoFund with the remaining as debt. The money will be used to further its own marketing efforts and develop new products and services.
4040 Media, based in Southport, allows marketers to create explainer videos through its products Wyzowl and publi.sh. It counts Seagate, Oracle, and Deloitte among its clients.
“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,” said Matt Byrom, CEO and founder of the company.
Redstone Venture Managers, one of the investors, is a new fund and 4040 Media marks its first investment.
“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,” said Redstone’s Richard Youn. “Angel Co Fund have helped us deliver this transaction and we look forward to working on many more investments with them”.