Programme: Enterprise Capital Funds
Scottish-based software company OneDrum wanted to find solutions to reflect the modern, mobile and more collaborative ways of working.
OneDrum secured funding from Amadeus and Angels Seed Fund (an ECF), several business angels, the UK Technology Strategy Board and Scottish Enterprise , to develop a desktop application which allows simultaneous, multi-author document creation and editing in Microsoft Office. In recognition of this technology, OneDrum was acquired by Yammer Inc in April 2012 and subsequently, Yammer was in turn acquired by Microsoft for $1.2bn in June 2012.
Total ECF investment in OneDrum was £525k