Web sites can talk to PC and PDA calendars
A rapidly growing digital marketing service that helps increase e-commerce conversion rates and website traffic, by providing personalised, permission-based communications with PCs and PDAs, has received $US 1.7 million in third-round venture capital funding from a syndicate including Interregnum, NatWest IT Fund (now managed by Royal Bank Ventures) and Cambridge Research and Innovation Ltd.
The service, InfuzerTM, developed by on board info, enables web site visitors to record instantly useful dates such as events, deadlines, and special offer periods directly into electronic calendars. From within the calendar, Infuzer provides 1 click access to conducting transactions e.g. purchasing tickets and related items. To improve conversion rates further, it allows the web site to send reminders and ongoing messages to customers informing them of special offers, date changes and supporting information.
"For example when booking a holiday on the web a customers' travel itinerary will be automatically placed into a users' electronic calendar containing links for 1 click purchase of related services such as hotel accommodation and car rental. The travel company will then be able to send reminders and special offers for related services direct to the calendar as well as being able to alert travellers to changes in travel details." Said Ray Eitel-Porter, CEO, on board info.
This third-round capital funding will be used to pursue enterprise and corporate customers with the Infuzer digital marketing service that can increase e-commerce conversion rates and loyalty, build return traffic and increase event attendance.
Eitel-Porter said, "Between five and ten percent of visitors to web pages on our customers' sites use Infuzer to record events in their calendars. This ultimately will see an increase in the number of people attending their events, or purchasing their services and reduce marketing costs. Wharton Business School has commented that conversion rates of between five and ten percent are remarkable in the current climate, where usual conversion rates are between two and five percent*." (*Peter Fader, Professor of Marketing at Wharton Business School)
Adrian Merryman, Chief Investment Officer, Interregnum, continued "The strength of on board info rests not only in its unique direct communications and marketing solutions, but also in its ability to convert web site visitors into event delegates, e-surfers into e-shoppers and traffic into sponsorship revenue opportunities. We are delighted to have been working with an excellent management team at OBI since 1999 in assisting them to develop and implement an aggressive marketing-led business strategy."
The Infuzer technology is rapidly being adopted by a growing list of high profile customers, including:
Note to editors:
Ray Eitel-Porter founded on board info in 1996, bringing a range of software for the hand held mobile computers to market. In late 2000, Infuzer, on board info's primary product was launched.
This is the third round of funding on board info has entered into. The two previous rounds raised a combined $5m from the NatWest IT Fund, Interregnum and Cambridge Research and Innovation Ltd. Following the acquisition of NatWest last year, the NatWest IT Fund is now managed by Royal Bank Ventures, part of the private equity arm of The Royal Bank of Scotland.
About on board info
on board info specialises in enabling web site and email marketers to communicate with their customers via PC and PDA based electronic calendars. The company's core product is Infuzer, a 1 click service that enables users to download date related information - events, deadlines, special offer periods - from web sites and emails, directly into their electronic calendars. For website and email operators, this creates a personalised, permission-based infrastructure to drive e-commerce transactions, build traffic and create sponsorship revenue opportunities.
on board info was founded in 1996 by Ray Eitel-Porter, where he spearheaded the company from its head office in London, UK. Since 1996 the company has expanded and established a US presence in 2000 in New York. The company is funded by venture capital from a consortium including Nat West IT Fund (now managed by Royal Bank Ventures), Cambridge Research and Innovation Ltd. (www.cril.co.uk) and Interregnum (www.interregnum.com), the pioneering IT advisory and investment firm, working with high potential IT entrepreneurs to develop, resource and implement value building strategies and to 'transform technology into wealth'.
Further information about Infuzer can be found at http://www.infuzer.com
About Interregnum plc
Interregnum plc is an IT investment and advisory firm. It works with high potential IT entrepreneurs to develop, resource and implement aggressive, marketing-led, value-building strategies and to 'transform technology into wealth'. It currently has a portfolio of over 30 IT and IT-related investments with holdings principally in hardware, software, services and internet infrastructure businesses. Interregnum was established in 1992 and floated on AIM in March 2000. It is currently raising a £75 million venture capital fund. For further information: www.interregnum.com
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