Handy Elephant becomes first UK investee for Silicon Valley seed fund
Cambridge social analytics firm could receive £250,000
The Citrix Startup Accelerator, a seed fund based in Silicon Valley, has selected its first-ever UK investee – Cambridge-based social analytics start-up Handy Elephant.
Under the terms of the arrangement, Handy Elephant will receive mentoring, leadership and funding from the Accelerator, which was set up in December 2010 with a brief to invest in the world’s most promising young software firms.
The precise amount of funding Handy Elephant has received has yet to be disclosed – however the Citrix website claims each of its investees will receive investment of up to $400,000 (£250,000).
Handy Elephant was selected after impressing the Citrix judges with its proprietary technology, designed to help salespeople and recruiters target potential clients more effectively by analysing their use of phone, e-mail and social networks.
Michael Harries, senior director, Citrix Startup Accelerator, said: “When we launched the Startup Accelerator Programme last year, we wanted to choose seed investments that would be at the forefront of industry trends.
“Handy Elephant is ahead of the curve with social collaboration, providing users with a simple, automated way to manage personal and professional networks. By providing key resources, our aim is to help Handy Elephant achieve the rapid market and customer validation that will enable it to transform into a successful business.”
Benjamin Wirtz, founder of Handy Elephant, added that his company’s solution “makes it simple for professionals to manage their personal and professional networks from any channel and at any time. This resonates well with the Citrix mantra of enabling users to work ‘whatever, whenever, wherever’, making it a natural next step for us to participate in the Citrix StartUp Accelerator to consolidate our momentum.”