Bridges invests £2m in cloud.IQ
Investee plans to target start-ups and entrepreneurs
Bridges Ventures, the private equity firm headed by Sir Ronald Cohen, has injected £2m into cloud.IQ, a marketing technology company headquartered in east London.
The investment has been channeled through Bridges’ sustainable growth fund, which provides essential funding for ambitious businesses located in Britain’s most economically deprived areas.
Hackney-based cloud.IQ, founded in 2005, already boasts a cluster of major clients, and Bridges’ funding will enable the investee to target a new audience of entrepreneurs and start-up businesses.
Eric Van Der Kleij, chief executive of Tech City Investment Organisation, told the London Evening Standard: “Bridges’ investment in cloud.IQ will help the company make marketing technology available to start-ups and entrepreneurs like themselves.”