Webjam Raises $1.9 Million in Latest Round of Funding

Investment underlines new Branded Services offering from Webjam.

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Webjam is built around the democratic premise that anyone should be able to build and manage their own social networks, regardless of whether they are an individual, corporation or charitable cause

London, UK (PRWEB) July 10, 2008

Webjam today announced it has secured a further $1.9 million (£1 million / Euro 1.2 million) in funding led by initial investor I-Source. Webjam allows individuals and organisations to build fully customisable, purpose-driven social networks, with the flexibility to control what is shared with whom. Webjam represents the next generation social publishing platform that extends 'sharing' to all aspects of social networks by allowing users to replicate any part of webjams created by others. The A-round extension will be used to accelerate Webjam's developments in the B2B2C market which enables businesses and organisations to create custom online communities through its new Branded Services offering.

Webjam's new paid-for service allows organisations to build branded online communities and furthermore empowers individuals in those communities to automatically replicate their own branded splinter social publishing platforms. Currently in pilot mode, Webjam's Branded Services offering has already been used to great effect by a number of organisations including Yamaha Music Education, the Centre for Policy Studies, ZoneMag and the Digital Hub Development Agency. The full Branded Services programme will be available to all in September 2008 in a Software as a Service (SaaS) fee-paying version.

The £1 million reinvestment demonstrates I-Source's confidence in Webjam's strategy. Eric Harle, Managing Partner of I-Source commented: "With the single aim to back the hottest technology start-ups with the biggest potential for growth in Europe, Webjam remains a key investment for I-Source". "By December we anticipate that Webjam will have secured stable revenue streams around fees, premiums and advertising as web 2.0 services become established in the minds of businesses and organisations as an essential part of reaching and interacting with their customer base."

Yann Motte, co-founder and CEO of Webjam added: "With I-Source support, we will continue to execute our vision to enable communities with a purpose". "Webjam is built around the democratic premise that anyone should be able to build and manage their own social networks, regardless of whether they are an individual, corporation or charitable cause". "As such we differentiate ourselves with features like our unique replication facility which provides the tools for organisations who want to engage and empower their communities to spread the word."

Webjam Branded Services is the solution of choice for organisations with large communities of users or customers, such as printed media, retailers, interest groups, sport and education organisations, think tanks and charities which want to easily connect online and share content in a controlled and safe environment.

About Webjam:
Webjam provides individuals and organisations with a free or subscription-based platform to create customisable, purpose-driven social networks, with the flexibility to control what is shared with whom. Webjam Branded Services allow larger organisations to build branded online communities in a Software as a Service (SaaS) mode.

Founded in 2006 by a British, a Spanish and a French entrepreneur in London, UK, Webjam differentiates itself by bundling powerful community features with an easy drag-and-drop interface, a rich catalogue of modules and styles and a unique feature to replicate contents, applications and lay-outs. Available to everyone regardless of technical skills, Webjam allows anyone to share their creations and learn from others.

A finalist in the Red Herring 100 Europe 2008, Webjam has been compared to Ning by CNET, offering "Apple-like simplicity for website building", and touted as an alternative to Facebook by BBC News Online.

For additional information: http://www.webjam.com .

About I-Source:
I-Source is an early stage venture capital firm, focusing on Information and Communication Technologies (Software, SaaS, Multimedia and Telecom). We invest at first and following rounds in early stage technological companies. Our funds are managed by a stable and senior team with a strong background in the industry, in finance and in entrepreneurship. This allows us to actively support each portfolio company and bring significant added value. With 175 M€ under management, I-Source has invested in 60+ companies since its inception in 1999.

For additional information: http://www.isourcegestion.fr

Contact Information:
Nick Vangelis
Skywrite    
+44 20 7608 4680

Sonia Kalfon
Webjam Ltd
+44 20 3170 8741

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