REG - Sure Ventures PLC - Cameramatics Funding Round

Sure VenturesAnnouncement

30/12/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211230:nRSd9887Wa&default-theme=true

RNS Number : 9887W  Sure Ventures PLC  30 December 2021

Sure Ventures plc ('Sure Ventures' or 'the Company')

 

CameraMatics Funding Completed

 

 

Sure Ventures plc, a London listed venture capital fund which invests in early
stage software companies in the rapidly growing technology areas of Augmented
reality ('AR'), Virtual reality ('VR'),  Internet of Things ('IoT') and
Artificial Intelligence (AI), is pleased to announce a Series B funding round
for portfolio company Cameramatics (Mysafedrive ltd). Sure Ventures PLC owns
exposure to Cameramatics via a 25.9% stake in Sure Valley Ventures (ICAV).

CameraMatics has successfully raised a total of €3.9 million in additional
growth funding from existing investors Sure Valley Ventures, Puma and
Enterprise Ireland after achieving 90% increase in valuation since January
2021.

The proceeds of the funding round will be used to expand CameraMatics' sales
and marketing teams, help fund its global expansion and scale in line with the
strong levels of growth that the company is experiencing.

CameraMatics has grown steadily since launching in Ireland in 2016 and its
customer connections, which include some of the sector's leading and largest
fleet operators, have increased significantly since the funding round in
January 2021. The company's solutions are currently operating live in tens of
thousands of vehicles globally.

CameraMatics states that it has seen a 167% growth in recurring revenue in the
last 12 months and expects opportunities in its current pipeline to further
accelerate its growth after a year which saw them win founder of the year,
emerging company of the year and most recently shortlisted for the European
future Unicorn award coming up in 2022.

 

Gareth Burchell, Director of Sure Ventures PLC Commented:

"Cameramatics is continuing to experience high levels of growth and that
growth requires extra funding. Sure Ventures PLC would like to congratulate
the Board of Cameramatics on their progress. The international presence they
have established, the increasing size and calibre of the customers they are
winning and the recurring revenue model they have built are testament to
commitment, drive and ambition of the founders".

 

For further information, please visit www.sureventuresplc.com or contact:

Gareth Burchell

Sure Ventures plc

+44 (0) 20 7186 9918

Notes to Editors

Sure Ventures plc listed on the London Stock Exchange in January 2018 giving
retail investors access to an asset class that is usually dominated by private
venture capital funds. Sure Ventures is focusing on companies in the UK,
Republic of Ireland and other European countries, making seed and series A
investments in companies with first rate management teams, products which
benefit from market validation with target revenue run rates of at least
£400,000 over the next 12 months. Website: https://www.sureventuresplc.com/

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFESFAUEFSEIE