– With the support of our investor, we can now build an organization that can handle international expansion, said Martin Levy, CEO Voogly.
Första Entreprenörsfonden invests in growth companies in which the value growth has the potential to be > 10 within a period of five years.
– The founders of Shootitlive has set a new standard for online photo journalism and we are impressed by how quickly Shootitlive managed to expand in the Nordic region, says Pelle Snårelid, Partner, Första Entreprenörsfonden.
The money will be used for international expansion of the Shootitlive service, which helps newspapers to live publish photos and video clips. Currently Voogly has customers in Sweden, Finland, Norway and Denmark such as Aftonbladet, Iltalehti, Verdens Gang, and Ekstra Bladet.
Voogly is now recruiting staff to accelerate the development of Shootitlive with new features and to reach new customer groups.
– We are looking for developers who want to change the way newspapers are working with photo and video, said Martin Levy
Shootitlive helps newspapers to live publish professional photos and video clips. The service is intended for websites, where on-the-field photographers publish photos and video clips of current events live as they unfold, from any location with 3G coverage. Shoot It Live / Voogly AB was founded 2008 and is today used by Scandinavia’s largest newspapers in their online publications.
Första Entreprenörsfonden (First Entrepreneur Fund) generates high returns through a unique approach in which we evaluate, develop, and invest in successful entrepreneurs. Since the fund was established in 2005, we have evaluated more than 500 companies and invested in 14 entrepreneurial companies in three annual funds in 2007, 2009 and 2010. Each investment has a sharp focus on the entrepreneur combined with the business opportunity at hand. Första Entreprenörsfonden firmly believes that a strong entrepreneur, working in a well-functioning team, is a recipe for a successful business
For more information, contact:
Martin Levy, Founder and CEO Shootitlive / Voogly AB, +4673-150 00 22
Pelle Snårelid, Partner, Första Entreprenörsfonden, +4670-990 40 25