Live Game Management Platform ChilliConnect Secures $450k+ Seed Funding

Live Game Management platform ChilliConnect is excited to announce the completion of a Seed funding round of over $450,000 raised from TechStart Ventures, Ascension Ventures and existing angel investors.

The technology company was founded in 2016 as a spin out from a successful game development studio. Its flagship product, the ChilliConnect platform, is a SaaS (software as a service) tool kit that provides game developers and publishers with a single solution to a range of Live Game Management services including analytics, game backend services and live operations. This “all in one” game development and publishing service has already attracted a range of notable global clients.

Following this Seed investment round, ChilliConnect plans significant growth across the business. Dedicated sales and marketing capability has been added and the company is now seeking to double the size of its current development team. ChilliConnect’s ambition to democratise Live Game Management for all game developers regardless of shape, size and financial resource is now one step closer to reality.

CEO and Co-founder Paul Farley said “We are delighted to close this Seed round. Not only will this investment allow us to accelerate the development of the ChilliConnect platform, developing innovative live operations and game backend features, but we can now market the platform to an even larger range of potential customers. Having access to the knowledge and networks of both TechStart Ventures and Ascension Ventures is a massive benefit. We’re looking forward to working with these top drawer early-stage funds.”

Mike Herron, CTO and Co-founder added “We’ve already demonstrated we can deliver a world class service with a small team, now we have the opportunity to maximise our positioning and become one of only a handful of key players in this space. In addition to developers and publishers we fill a large hole in the technology stack of distribution platforms, engine providers and other complementary technology companies. We’re looking forward to realising this potential in the months ahead.”

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PRESS
For more information contact Paul Farley, CEO paul.farley@chilliconnect.com or 07824 614105.
Press pack available here: www.chilliconnect.com/press
Website: www.chilliconnect.com
Twitter: @Chilli_Connect

ABOUT ASCENSION VENTURES
Ascension Ventures backs exceptional entrepreneurs with big visions – providing capital, our network, and expert mentors to grow scalable technology businesses. We support UK businesses from Seed to Series A, and since 2013, Ascension has invested in over 75 UK based early-stage companies. Current funds include the ASCEND SEIS (Seed), CENTAUR EIS (Seed+), UK-India EIS (Seed+), and its Fair By Design social impact fund, working to eradicate the UK’s Poverty Premium.

ABOUT TECHSTART VENTURES LLP
Techstart Ventures LLP is a seed stage venture capital investor for the most ambitious entrepreneurial founding teams in Scotland and Northern Ireland. We seek to be trusted peers who help founders realise their vision through experienced and timely support. With our capital and backing, founders can focus on customer development, validating their business model and growing sales. Techstart manages the Scottish Growth Scheme – Techstart Ventures Equity Finance LP Fund which has been part financed by support from the European Structural Funds 2014-2020 European Regional Development Fund Programme in Scotland.

Tick. Investment – done.

Tick epitomises what we love to invest in at Ascension – an online video platform with an enormous market opportunity, but also genuinely trying to change content creation and consumption behaviours online, for the better. Its platform enables people with knowledge, skills and talent to create video content that delivers positive messaging and skills building for the masses.

We have been extremely impressed with what Franz, Jess and Cedric have built to date and cannot wait to see how Tick will enhance human potential at a huge scale through online video.

Read the full article here (Seedcamp)

Estate Agency Comparison Site GetAgent Raises £2.2 Million from Latest Investment Round

Estate agent comparison website GetAgent has closed a new funding round and has raised £2.2 million from several investors including the backer of Spotahome.com, TV channel Channel 4 and the founder of a leading photo printing platform.

Read the full article here (The Negotiator)

Vochlea Music Launches Crowdfunding Campaign for “Dubler Studio Kit”

Vochlea Music, a U.K. startup and alumni of Abbey Road Red, the music tech incubator from Abbey Road Studios, is launching a crowdfunding campaign today for “Dubler Studio Kit,” a new device and app that turns your voice into a MIDI controller for synths, drum machines, DAWs and other music gear.

Read the full article here (TechCrunch)

Groundbreaking Augmented Reality Fashion Show Streamed To Global Audience

In a world of technology providing new experiences that elevate the goings-on in our physical world, adding a layer of ‘virtuality’ is bringing a new spin to fashion week. Leading this charge is London College of Fashion’s Innovation Agency, FIA, who partnered with augmented reality pioneers HoloMe to present selected collections of London College of Fashion MA graduates.

Read the full article here (Forbes)

Cooperative Innovations Closes £500K Seed Funding, Launches VR Animation Tech ‘Ikabod’

British virtual reality (VR) developer Cooperative Innovations – the team behind Raiders of Erda – has announced the closure of a seed funding round, securing the company £500K of investment. Alongside, the funding, the studio has released a proprietary VR animation technology, Ikabod. The investment came from a number of sources, including angel investor Craig Fletcher, Ascension Ventures and Trend Investment Group.

Read the full article here (VR Focus)

Leading British Reuse Marketplace, Globechain, Featured as a Startup to Watch in 2019 by Forbes

Waste is increasingly expensive and companies are looking for infallible CSR wins – Globechain gives them both. Beyond this, the circular economy is valued at around $5.2 trillion by 2030 per Accenture, which means Globechain is hitting just at the right time economically (especially for the UK).

Read the full article here (Forbes)

From Unicorn To Phoenix, What Makes This Entrepreneur Tick The Second Time Around?

Tick co-founder, Jess Butcher, talks to Forbes about co-founding Blippar (the AR pioneers that recently went into administration), motherhood and family life, dabbling in a portfolio of mentoring, angel investing, non-exec-ing, and public speaking, and now co-founding a new social video platform, Tick.

Read the full article here (Forbes)

eCommerce Returns Solution, ZigZag Global, Receives Multi-Million GBP Growth Funding

Circularity Capital, a specialist private equity firm supporting growth stage European SMEs in the circular economy, has led a multi-million growth funding round in ZigZag Global, a software solution for retailers to optimally manage the return, repacking and resale of products. The investment will further accelerate the rollout of the solution to international blue chip retailers.

Read the full article here (Private Equity Wire)

Payday Poverty And Financial Fitbits: How Wagestream Is Eradicating Post-Christmas Number Crunching

Wagestream, the financial wellbeing fintech startup, has revealed that Christmas debt cripples 50 percent of the British population. This coincided with research from the Joseph Rowntree Foundation (JRF) which identified that the number of working Brits in poverty is outpacing employment.

In conversation with Peter Briffett, CEO and co-founder at Wagestream, he explained that the platform they are offering does so much more for financial wellness than those fintech firms who offer budget plans and spend trackers.

Read the full article here (Forbes)

Albert Acquired by Santander

Santander Group has today announced the acquisition of Albert, the invoicing and expenses app for freelancers and micro-businesses, as part of its mission to support the UK’s 5.7 million small business owners. Albert has developed a loyal following amongst freelancers and micro enterprises, providing smart invoicing and expense tools that reduce the time their self- employed customers spend on financial admin.

Read the full article here (Santander)

Ascension Ventures Announces 14 New Investors

Active tech investors and leading entrepreneurs invest in Ascension, joining as Venture Partners to expand deal-flow and support portfolio companies

  • Ascension announces 14 new investors, who will join the firm as Venture Partners to identify, back and scale UK tech businesses
  • New Venture Partners are active investors and include prolific tech entrepreneur Vin Murria, Telefonica’s accelerator, Wayra UK, and the Founders of Expedia, Multiplay and CSC Media
  • This solidifies experience and credentials across multiple tech sectors like Digital Media and Fintech, as well as providing access to New York and Silicon Valley for its portfolio businesses

LONDON, ENGLAND – 28 November 2018 – Ascension Ventures, the London-based investment firm, today announced a funding round, which will see the addition of 14 new Venture Partners. The group strengthens Ascension’s core belief in entrepreneurs investing in entrepreneurs, bringing in active UK and US investors with a number of them already successfully-exited entrepreneurs. Ascension’s bolstered experience in early stage investments and deep sector knowledge will increase deal-flow and support portfolio companies as they develop and scale in the UK and beyond.

Since 2013, Ascension has invested in more than 75 early stage tech companies across the UK, including VidsyMoteefeWagestreamA Million Ads and Hazy, which have gone on to raise multimillion pound rounds since Ascension invested in their initial seed rounds. The firm continues to attract exceptional entrepreneurs seeking early stage investment (ranging between £250K-£1.5m) and private capital, angels and other early stage VCs seeking co-invest partners. Ascension raises annual SEIS & EIS Funds, in addition to bidding for larger institutional funds. In the last year, Ascension also launched a series of initiatives including the Fair by Design Fund, a new £10m Fund tackling poverty in the UK, and the Unicorn Ascension Fund, the first UK/India cross-border EIS scale-up fund.

Serial entrepreneur, Vin Murria OBE, who set up Advanced Computer Software in 2008 and sold the business for £765 million in 2015 commented, “I’ve been very impressed with the Ascension Team and their track record of investments in UK tech start-ups. I’m delighted to be joining as a Venture Partner and look forward to building Ascension’s brand as the best place for early stage investing.”

Gary Stewart, Managing Director of Wayra UK, said, “Ascension has always been a committed and consistent partner of Wayra. Indeed, they’ve invested in 16 of our start-ups, are investors in residence in our London hub and are our principal partner in the Fair By Design programme. That being said, we expect that the best is still yet to come.”

Erik Blachford commented, “Over the past few years, I’ve noticed a proliferation of strong UK tech businesses. I felt that working with Ascension was a great opportunity to access the UK’s best early stage tech deal-flow, and I look forward to supporting these portfolio companies as they scale up and enter the US market.” Erik was CEO of Expedia when it sold to IAC and currently lives in San Francisco, where he is a Venture Partner at TCV, an active angel investor, and a Board Director at Zillow Group, Peloton, SiteMinder, TourRadar, Varsity Tutors, Liftopia, Busbud, and the Cutting Ball Theater.

Aleks Habdank commented, “I have been working in the Media industry for over 20 years now, including senior roles at Liberty Global, Virgin Media, YouView, Modern Times Group and, most recently, Talk Talk. I have seen the proliferation of digital as the key distribution driver for content, and believe the future lies in pure digital content consumption. As Ascension invests in the digital media end of technology, it was the logical place for me to invest in and join as a Venture Partner so that I can support the early stage innovators it is investing in.”

Exited entrepreneur and angel investor, Craig Fletcher, said, “I have been investing in Ascension’s SEIS & EIS Funds for a number of years now and have been heavily involved with supporting the portfolio companies as they have scaled. Therefore, it made sense to invest in Ascension and join as a Venture Partner in order to continue helping grow both Ascension’s position in the ecosystem as well as the portfolio companies it invests in, particularly in the mobile gaming and eSports sector.”

CEO of Ascension Ventures, Jean de Fougerolles, commented, “I’m delighted we’ve pulled together such a strong group of Venture Partners, all with deep operational experience in scaling and exiting tech businesses. Early stage investing requires specialist sector knowledge, not only to pick the right companies, but also to provide the necessary support to guide them through the early years. My vision has always been to build Ascension as the top seed VC brand in the UK, a place where seasoned tech operators can back the next generation of entrepreneurs and innovative business models. The addition of these new Venture Partners brings Ascension closer to this objective.”

Along with the 14 new Venture Partners, Kip Meek will be joining as Ascension’s new Chairman. Kip is the Founder of the Communications Chambers and Director of the Wireless Infrastructure Group; he was previously a Senior Advisor to EE and BT, Chairman of the Radiocentre, a Board member of Ofcom and the Founder of Spectrum Strategy Consultants.

The other Venture Partners included in today’s announcement are Pharus Advisors, Emma Blackburn, Antonin de Fougerolles, Jami Jenkins, Ian McClelland, Sam Miller, Remy Minute, Diane Stewart and Barney Worfolk-Smith.

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Ascension Ventures backs exceptional entrepreneurs with big visions by providing capital, access to its network, and expert mentors to grow scalable businesses. Our focus is on supporting UK businesses from Seed to Series A. Venture capital in tech and digital media is constantly evolving and requires a specialist approach and extensive sector insight to identify and progress innovative enterprises. Since 2013, we have invested in over 75 early stage tech companies. We have a rigorous investment evaluation process and are highly selective in putting forward opportunities for investment from our funds.

To schedule interviews, request supporting content, or for all other inquiries, please contact:

Alicia Burke

Marketing Manager, Ascension Ventures

alicia@ascensionventures.com

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